Skip to: Content
Skip to: Site Navigation
Skip to: Search

October 6, 2008 10:15:54 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

In Turmoil, Bernanke Forged New Persona

Posted May 28, 08 10:50 AM CDT in US,  Business 

(Newser) – Federal Reserve chief Ben Bernanke’s aggressive actions in March to douse the fire consuming financial markets won him fans on Wall Street and elsewhere, but created a cadre of critics who say the “Bernanke Doctrine” fuels inflation and hurts the dollar, the New York Times reports. “It has been a really head-spinning range of unprecedented and bold actions,” said one expert.

Bernanke’s moves, critics say, also put billions of public dollars into questionable investments and forever changed the central bank’s role. Bernanke, too, has changed, analysts say. Becoming "somewhat Buddha-like," his “growing understanding of the hardball ways the system actually works” has taken him out of his former academic self and created a legacy that will “be examined for decades.”

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Fed Weighs Emergency Rate Cut

    Oct 2, 08 9:28 AM CDT
    Fed Weighs Emergency Rate Cut Mounting fears that the credit crisis and continually worsening economic data will push a stagnant US economy into a severe recession has spurred the Federal Reserve to consider cutting interest rates from their current 2%, the Wall Street Journal reports. Even if the House follows the Senate in passing the $700 billion bailout, some action is likely. More »

  • Wrangle Over $700B Bailout Heats Up

    Sep 23, 08 6:58 AM CDT
    Wrangle Over $700B Bailout Heats Up Congress and the Bush administration are edging closer to an agreement on a bailout for financial firms—but several major sticking points remain, the New York Times reports. Progress has been made on oversight for the $700-billion fund, but lawmakers are pushing for taxpayers to get an equity stake in firms they bail out, and the White House wants flexibility. Some are demanding a cap on the pay of top executives whose firms are rescued.
    More »

  • SEC Chair Cox Fiddled as US Markets Burned

    Sep 22, 08 3:22 PM CDT
    SEC Chair Cox Fiddled as US Markets Burned With US markets in upheaval, the head of the watchdog Securities and Exchange Commission was preoccupied with a new technology for corporate filing, Bloomberg reports. Christopher Cox’s inaction has provoked bipartisan criticism: McCain adviser Carly Fiorina said he has been “asleep at the switch,” while Democratic Sen. Chris Dodd has ordered a probe into the drastic drop in SEC enforcement under Cox’s watch. More »

  • Bernanke, Paulson Put Fear of God Into Pols

    Sep 19, 08 4:18 PM CDT
    Bernanke, Paulson Put Fear of God Into Pols Lawmakers were astounded at the possible fallout of the crisis on Wall Street outlined last night by Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson, the New York Times reports. “When you listened to him describe it you gulped,” New York Sen. Charles Schumer said of the meeting between a select group of lawmakers and the two officials.
    More »

  • Late Rally Lands Dow Up 410

    Sep 18, 08 3:25 PM CDT
    Late Rally Lands Dow Up 410 The markets rallied late in today’s rollercoaster session, keying on a $360 billion plan to shore up money markets and reports that the Fed might form a government body to absorb firms’ bad credit bets, the Wall Street Journal reports. The Dow gained 410.03 to close at 11,019.69. The Nasdaq closed up 100.25 at 2,199.10, while the S&P 500 rose 50.01, settling at 1,206.40. More »

Federal Reserve Chairman Ben Bernake speaks during a Federal Reserve Bank of Chicago conference.   (AP Photo/Charles Rex Arbogast)
Federal Reserve Chairman Ben Bernanke watches the Washington Nationals versus Milwaukee Brewers baseball game at Nationals Park in Washington, Monday, May 26, 2008.   (AP Photo/Lawrence Jackson)
Federal Reserve Chairman Ben Bernanke speaks during a Federal Reserve Bank of Chicago conference in Chicago May 15.   (AP Photo/Charles Rex Arbogast)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 2)

Tags

Federal Reserve  • Ben Bernanke  • interest rate cut  • monetary policy  • prime rate


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »