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NEWS ABOUT: Ben Bernanke

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Bloomberg News Caught Snooping on Bankers

May have also tapped data from Bernanke and Geithner

(Newser) - Bloomberg LP operates both a multi-platform media organization, Bloomberg News, and a computer system, Bloomberg Terminal, that bankers and traders use to monitor market data. The problem: Bloomberg News reporters can see how and when any customer has been using a terminal, and now it turns out they have been... More »

Bernanke Taking Big Gamble on Policy

Lower dollar stimulates economy but risks trade wars: Allan Sloan

(Newser) - Ben Bernanke's push to keep interest rates low might be stimulating the US economy, but it's also raising the risk of currency wars, writes Allan Sloan at Fortune . "Cutting interest rates faster and more deeply than most other central banks has weakened the dollar against the currencies... More »

Fitch Threatens Downgrade If Debt Deal Is Too Weak

Meanwhile, Pat Toomey introduces backup bill

(Newser) - The US credit rating is once again in danger thanks to a debt ceiling showdown. Fitch today announced that it may downgrade the US even if lawmakers manage to strike a deal, CNN Money reports. Fitch already has a negative outlook on the US' AAA rating, and said that would... More »

Fed Announces $45B-a-Month Bond Buy

Plans to hold interest rates down until jobless rate hits 6.5%

(Newser) - The Federal Reserve dropped a bombshell today, announcing that it would spend $45 billion a month on bond purchases to keep interest rates low, and that it would keep its short-term rates near zero as long as it takes to get unemployment below 6.5%. It will also keep up... More »

Bernanke to Step Down: Report

Fed chair won't return for another term, even if President Obama is reelected

(Newser) - Ben Bernanke doesn't intend to return for another stint atop the Federal Reserve after his term expires in January 2014, close friends of the chairman tell Andrew Ross Sorkin of the New York Times . Mitt Romney has already said he would appoint someone else if he gets the chance,... More »

Fed Opts for More Stimulus

Federal Reserve will buy more bonds to try to boost economy

(Newser) - The in-limbo markets finally got their answer: The Federal Reserve said today it will indeed try to juice the economy with an aggressive new round of bond-buying. The difference this time, explains the Wall Street Journal , is that it's not buying a set amount—this is "an open-ended... More »

On Deck for the Fed: QE3, GOP Backlash

Markets soar on widely expected new round of stimulus

(Newser) - Markets have soared in the expectation that the Fed will announce fresh steps to boost the US economy at the conclusion of its two-day meeting tomorrow—making it all the more likely that a stimulus will be forthcoming. Fed Chairman Ben Bernanke is widely expected to announce a third round... More »

Bernanke: Fed Will Act to Boost Jobs

Chairman didn't list specific policies, but left little doubt he intended to

(Newser) - Ben Bernanke left little doubt today that the Fed would soon resort to yet more attempts to inject money into the economy. In a speech at Jackson Hole, Bernanke said unemployment was still "a grave concern" because it inflicts both "enormous suffering" on the people and "structural... More »

Fed Signals It's Ready to Act Soon on Economy

Minutes of meeting show members worried about recovery

(AP) - Federal Reserve officials spoke with increased urgency at their last meeting about the need to provide more help for a weak US economy. In fact, many felt further support would be needed "fairly soon" unless things improved significantly. The minutes of the July 31-Aug. 1 meeting don't say... More »

Fed: No New Stimulus —for Now

Ben Bernanke and crew see the economy slowing but will stand pat

(Newser) - Wall Street has been waiting anxiously for a few days now to see what the Fed was going to do about the economy, and the answer arrived this afternoon: Nothing. For now. The Fed sees evidence that the economy has actually decelerated in recent months, reports MarketWatch , but it's... More »

Bernanke Predicts 7% Unemployment in 2014

Dour Fed gives no clue as to quantitative easing plans

(Newser) - Ben Bernanke sounded a dour note in his testimony before Congress today, predicting slow growth and stubbornly high unemployment, with no hint that the Fed intended to do anything about it. "The US economy has continued to recover, but economic activity appears to have decelerated somewhat," he said,... More »

Weak Jobs Report Puts Pressure on Bernanke

Fed now more likely to take action

(Newser) - Yesterday's tepid jobs report firms up evidence that the recovery is backsliding and increases the odds that the Federal Reserve will try to give it a jolt, reports the Wall Street Journal . The most likely move by Ben Bernanke would be to buy bonds—or quantitative easing, in econo-speak—... More »

Fed Will Help If Economy Craters: Bernanke

But it's unclear what action it would take

(AP) - The Federal Reserve is prepared to take further steps to lift the economy if it weakens, Ben Bernanke said today—but he didn't signal any imminent action in testimony before a congressional panel. Bernanke said the European debt crisis poses significant risks to US financial markets. He noted that... More »

Krugman vs. Bernanke: Who's Reckless?

Robert Samuelson outlines the feud between the bearded economists

(Newser) - Call it the "battle of the beards," suggests Robert Samuelson of the Washington Post : Paul Krugman vs. Ben Bernanke. Both are prominent economists, both have facial hair aplenty, and each has called the other "reckless." Krugman has been lambasting the Fed for not doing enough to... More »

We Need a Weaker Dollar

Paul Krugman argues that we need more inflation, not less

(Newser) - Ben Bernanke has become a popular punching bag for the right lately, with people like Ron Paul and Rick Perry trying "to bully the Fed into doing exactly the wrong thing," writes Paul Krugman in the New York Times . "The right wants the Fed to obsess over... More »

Bernanke: Fed Will Do More to Boost Economy

Stock market soars

(Newser) - The Federal Reserve isn't ready to take its foot off the gas pedal. In a speech this morning in Arlington, Virginia, Ben Bernanke said that while the Fed was encouraged by the downward trend in unemployment numbers, it believes that the economy needs “continued accommodative policies” to keep... More »

Ron Paul to Bernanke: Do You Shop for Groceries?

Candidate returns to Washington to spar with Fed chief

(Newser) - Ron Paul may have a presidential race to run, but he's never too busy to return to DC to do a little Fed bashing. Paul grilled Ben Bernanke today, declaring in his opening statement that "what we are witnessing today is the end stages of a grand experiment,... More »

Bernanke: Full Recovery Years Away

Fed says inflation on target, but unemployment high, growth sluggish

(Newser) - Don't get too excited about that pending economic rebound . The Federal Reserve's announcement it will keep interest rates super-low into 2014 is a key sign that the US economy is years away from truly recovering, reports the New York Times . Yes, the economy has picked up "moderately,... More »

2006 Transcripts Show Fed Was Clueless on Housing

Geithner, Bernanke, others missed signs of the pending collapse

(Newser) - The Fed released transcripts from meetings in 2006 today that reveal just how badly its top officials blew it on the looming housing crisis, the New York Times reports. The industry was showing signs of distress, but the Fed's attitude boiled down to, eh, no big deal. The officials... More »

Fed Sees High Unemployment All Next Year

Forecast sees it at 8.6% at end of 2012

(Newser) - If President Obama were hoping for a quick election-year turnaround in the jobless rate, the Federal Reserve burst his bubble today. The Fed projected unemployment will be at 8.6% at the end of 2012, not much better than the 9.1% registered in September of this year, reports the... More »

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