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Stories related to: Ben Bernanke

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  • October 2007

    • Fed Slashes Key Interest Rate Another Quarter-Point

      Wall Street Journal  |  Oct 31, 07 1:42 PM CDT

      Fed Slashes Key Interest Rate Another Quarter-Point

      (Newser) - The Federal Reserve cut its key lending rate today by 25 basis points, to 4.5%. The expected reduction is the second of the federal funds rate in two months. The board asserted, however, that growth and inflation risks are now “roughly balanced,” a signal that further cuts shouldn’t be taken for granted. The discount rate was also cut by a quarter-point, to 5%. More »

      Tags

      Ben Bernanke  • inflation  • mortgage  • interest rate  • interest rate cut  • Fed

    • GDP Grows at 3.9% Clip Despite Housing Crunch

      Associated Press  |  Oct 31, 07 11:27 AM CDT

      GDP Grows at 3.9% Clip Despite Housing Crunch

      (Newser) - The US economy grew at a brisk 3.9% pace in the third quarter despite the credit and housing turmoil buffeting Wall Street, according to Commerce Department figures released today. Overall construction spending was up—with record commercial and government spending offsetting the housing slide—while individuals increased spending 3% and employment held steady. “This is an extremely resilient economy,” one economist said. More »

      Tags

      Federal Reserve  • Ben Bernanke  • consumer spending  • GDP  • economic growth  • Fed funds rate

    • Bernanke: How's He Doing?

      Wall Street Journal  |  Oct 31, 07 11:05 AM CDT

      Bernanke: How's He Doing?

      (Newser) - As the Fed rolls out another anxiously awaited decision on rate cuts, the Wall Street Journal does a play-by-play analysis of Ben Bernanke's handling of the three-month old credit crisis with an eye to what we've learned about the new Fed boss. For starters, he's more open and collaborative than his predecessor. "There's more of the economic seminar room, of exchanging views and thinking out loud," says a former adviser to both men.  More »

      Tags

      Federal Reserve  • credit crisis  • Ben Bernanke  • Alan Greenspan  • Fed

    • Consumer Confidence Falls to Post-Katrina Levels

      Bloomberg  |  Oct 30, 07 1:10 PM CDT

      Consumer Confidence Falls to Post-Katrina Levels

      (Newser) - Consumer confidence plummeted in September to its lowest reading since October 2005, fueling worries that housing’s downturn could affect consumer spending, which makes up two-thirds of the economy. Home prices, meanwhile, suffered their biggest drop in at least 6 years. “There is really no positive news in today's report,” an economist told Bloomberg. More »

      Tags

      Federal Reserve  • Ben Bernanke  • home prices  • consumer confidence

    • Fed Doesn't Want Rate Cut— But Markets Do

      Bloomberg  |  Oct 30, 07 7:09 AM CDT

      Fed Doesn't Want Rate Cut&mdash; But Markets Do

      (Newser) - Ben Bernanke and the rest of the Fed are meeting today to decide whether to cut interest rates again after September's surprise half-point reduction. Bernanke has made it clear that he'd rather not drop rates again. But, as Bloomberg writes, he might not have much of a choice: with home values falling and oil skyrocketing, the markets are desperate for—and counting on—some relief. More »

      Tags

      Federal Reserve  • credit crisis  • Ben Bernanke  • interest rate

    • Wall Street Watching Fed's High Wire Act

      Associated Press  |  Oct 28, 07 6:32 PM CDT

      Wall Street Watching Fed's High Wire Act

      (Newser) - All eyes are on the Fed this week, with Wall Street expecting a quarter-point rate cut when the group meets Tuesday and Wednesday. But the decision is an usually tough one, the AP reports, with the tight rope between controlling inflation and keeping markets fluid more precarious than it has been for a while. Most investors think the Fed is more concerned about the credit crunch, but how long it will feel that way is unclear. More »

      Tags

      Federal Reserve  • subprime mortgages  • Dow Jones Industrial Average  • Ben Bernanke  • inflation  • stocks  • markets  • credit

    • Stocks Slide for a Second Day

      Wall Street Journal  |  Oct 16, 07 3:39 PM CDT

      Stocks Slide for a Second Day

      (Newser) - Stocks slid today for a second consecutive session following an ambiguous speech by Ben Bernanke and record-busting oil prices that topped $88. The Fed chairman offered a so-so assessment of the markets but no clues about rate cuts. The Dow fell 71.86 to 13,912.94, the S&P dropped 10.18 to 1,538.53, and the Nasdaq lost 16.14 to close at 2,763.91. More »

      Tags

      stock market  • oil price  • Ben Bernanke

  • September 2007

    • Bernanke Sees More Housing Pain, ‘Relatively Strong’ System

      MarketWatch  |  Sep 20, 07 2:57 PM CDT

      Bernanke Sees More Housing Pain, &lsquo;Relatively Strong&rsquo; System

      (Newser) - Federal Reserve chairman Ben Bernanke went before Congress today, two days after trimming the benchmark lending rate, and said new foreclosures will come as more subprime mortgages run out clocks on initial interest rates. Markets “do tend to self-correct” in crises, the economic guru said, and the global system is “in a relatively strong” place to overcome the credit crunch. More »

      Tags

      Congress  • subprime mortgages  • Ben Bernanke  • foreclosure  • Fannie Mae  • Freddie Mac  • interest rate

    • Record Low: Euro hits $1.40

      Bloomberg  |  Sep 20, 07 7:07 AM CDT

      Record Low: Euro hits $1.40

      (Newser) - The dollar dropped to a record low against the euro in early Asian trading on Thursday, breaking the $1.40 barrier for the first time since the establishment of the common currency. The Fed's half-point cut in interest rates led investors to drop the greenback, and chief Ben Bernanke's upcoming testimony before Congress might spell further trouble. More »

      Tags

      Federal Reserve  • Ben Bernanke  • US dollar  • euro  • Asian markets  • currency

    • Stocks Keep Up Rate-Cut Rally

      Bloomberg  |  Sep 19, 07 3:39 PM CDT

      Stocks Keep Up Rate-Cut Rally

      (Newser) - The stock market kept rising one day after the Fed slashed key interest rates, as speculation that the housing slump might ebb compounded the biggest rally in four years. The Dow climbed 76.17 to 13815.56, while the Nasdaq rose 14.82 to close at 2666.48 and the S%P jumped 9.25 to 1529.03. One manager called the Fed’s move “a shot of adrenaline,” Bloomberg reports. More »

      Tags

      stock market  • S&P 500  • Nasdaq  • iPhone  • housing market  • Dow Jones  • Ben Bernanke  • Fannie Mae  • Freddie Mac  • AT and T

    • Expected Fed Rate Cut Could Halt Crisis

      USA Today  |  Sep 17, 07 3:49 AM CDT

      Expected Fed Rate Cut Could Halt Crisis

      (Newser) - What happens next in the volatile world stock markets could depend on Federal Reserve chief Ben Bernanke. The Fed is expected to cut the interest rates banks charge each other for overnight loans, currently 5.25%. It would make loans cheaper, boost consumer spending, revive stock prices and ultimately, prevent an economic slide, notes USA Today . More »

      Tags

      Federal Reserve  • Dow Jones  • Ben Bernanke  • mortgage  • consumer spending  • home equity  • Fed funds rate

    • Greenspan Missed Subprime Crisis Signs

      Bloomberg  |  Sep 13, 07 3:19 PM CDT

      Greenspan Missed Subprime Crisis Signs

      (Newser) - Alan Greenspan didn't see the subprime crunch coming, the former Fed chairman tells CBS' "60 Minutes." Greenspan also gave his successor a pat on the back, saying Ben Bernanke "is doing an excellent job." Some have suggested that Bernanke isn't acting as presciently as his predecessor; not so, says Greenspan—"I'm not certain I would have done anything different." More »

      Tags

      Federal Reserve  • subprime mortgages  • Ben Bernanke  • Alan Greenspan

    • Pending Home Resales Drop to Record Lows

      Bloomberg  |  Sep 5, 07 11:35 AM CDT

      Pending Home Resales Drop to Record Lows

      (Newser) - In yet another sign of the troubled housing market infecting the ailing credit market, the number of home resales plunged to a record low in July. The measure, which tracks the number of Americans signing contracts to buy previously owned homes, dropped 12.2% to 89.9, its lowest level since September 2001. Bloomberg had projected a 2.2% drop. More »

      Tags

      US economy  • housing market  • Ben Bernanke  • home sales

    • Energy, Techs Give Stocks a Jolt

      Bloomberg  |  Sep 4, 07 4:25 PM CDT

      Energy, Techs Give Stocks a Jolt

      (Newser) - Tech and energy stocks led a rally at the end of today's session on Wall Street, as rumors of an interest-rate cut multiplied and traders examined indications that earnings would outpace prices in the two sectors. GM was up 6.1% as the Dow jumped 91.12 to 13448.86, but component Home Depot slowed extra gains by announcing a major buyback. More »

      Tags

      Apple  • stock market  • General Motors  • Ben Bernanke  • stocks  • interest rate

    • Recession Risk Seen in Mortgage Misery

      Reuters  |  Sep 2, 07 1:23 PM CDT

      Recession Risk Seen in Mortgage Misery

      (Newser) - Mortgage woes could spark a serious recession, a prominent economist said yesterday. National Bureau of Economic Research President Martin Feldstein said that interest rates must be slashed heavily and quickly, or declining prices and weakening home equity withdrawal could hobble the economy, Reuters reports. More »

      Tags

      US economy  • Federal Reserve  • subprime mortgages  • recession  • Ben Bernanke  • mortgage  • interest rate  • home equity  • Martin Feldstein

  • August 2007

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