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NEWS ABOUT: Ben Bernanke

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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 »

Bernanke: Recovery 'Is Close to 'Faltering'

He advises Congress not to cut spending

(AP) - Federal Reserve Chairman Ben Bernanke said today that the US economic recovery "is close to faltering" and that the central bank is prepared to take further steps to support it. (That potential action apparently pleased investors: The Dow came off the day's lows, fell a bit, then rebounded... More »

Did GOP Cross Line With Letter to Bernanke?

Some pundits think Republican leaders shouldn't play politics with Fed

(Newser) - The latest political firestorm comes courtesy of the top four Republicans in Congress (Mitch McConnell, John Boehner, Jon Kyl, and Eric Cantor), who wrote a letter to Ben Bernanke urging restraint on the economy. "We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems,... More »

Bernanke Stands Pat, Sends Stocks Tumbling

Dow tumbles below 11K

(Newser) - Ben Bernanke didn’t give any sign that the Fed was about to take fresh action to prop up the economy in his speech at Jackson Hole today, sending stocks tumbling. Bernanke said the Fed “is prepared to employ its tools as appropriate to promote a stronger economic recovery,... More »

Don't Hold Your Breath for New Fed Stimulus

Investors might be barking up the wrong tree

(Newser) - Stocks have been shooting up this week on speculation that Ben Bernanke will announce another round of quantitative easing to prop up the economy in his speech Friday at Jackson Hole. But investors had better hold their horses, Neil Irwin of the Washington Post reports, because “the appetite within... More »

Rick Perry Stands By His Bernanke Comments

He is the 'no apologies' candidate, writes Chris Cillizza

(Newser) - By now, just about everyone in politics has weighed in on Rick Perry's "treason" comments regarding Ben Bernanke . How about Perry himself? "I'm just passionate about the issue and we stand by what we said," the Texas governor said today in Dubuque, Iowa, according to... More »

Perry Made 'Rookie Mistake' With Bernanke Comments

... or is a little 'hyperbole' being overblown by media?

(Newser) - Rick Perry's comments about Ben Bernanke and treason continue to dominate the political chatter. A few takes:
  • John Podhoretz, Commentary : "What Perry did was make a thoughtless blunder, an unforced error; we’re now going to spend a couple of days discussing whether he was summoning violence on
... More »

Perry: Bernanke Printing More Money 'Almost Treasonous'

Bernanke would be 'treated pretty ugly' in Texas, GOP hopeful warns

(Newser) - Federal Reserve chief Ben Bernanke will be no better than Benedict Arnold if he embarks on a third round of tinkering with the money supply between now and the election, Rick Perry told a Republican rally in Iowa yesterday. "If this guy prints more money between now and the... More »

Fed Panel Split Over Bernanke's Low Rates Policy

It's the most a chairman has faced in 19 years

(Newser) - Ben Bernanke's Tuesday announcement that the Fed is prepared to keep short-term interest rates close to zero for at least two more years is facing internal revolt from the Federal Open Market Committee, the 12-member committee of Fed presidents and governors that sets monetary policy, reports the Wall Street ... More »

Bernanke Clarifies Stimulus Talk, Markets Tumble

Fed isn't ready to take action soon

(Newser) - Wall Street semantics: Yesterday, Ben Bernanke appeared before Congress and mentioned the word "stimulus." His remarks were widely interpreted to mean that the Fed was poised to take action to bolster the economy, and the markets rose in response. Today, Bernanke resumed testimony and made clear the Fed... More »

Bernanke: We're Prepared to Dole Out More Stimulus

Says he expects more job creation once 'temporary shocks' pass

(Newser) - The Federal Reserve is ready and willing to pour more money into the economy if it has to, Ben Bernanke told Congress today. “The possibility remains that the recent economic weakness may prove more persistent than expected … implying a need for additional policy support,” Bernanke said. “... More »

'Anonymous' Hackers' Next Target: Ben Bernanke

Group wants Federal Reserve chairman to step down

(Newser) - Anonymous' next target: Ben Bernanke. The hacker collective uploaded a YouTube message over the weekend calling for the Federal Reserve chairman to resign—again. Anonymous first called for Bernanke’s resignation on March 12, Business Insider notes, but he clearly did not heed that request. So Anonymous is launching "... More »

Bernanke, Obama Agree: No Double-Dip

Fed chief, president expect recovery will strengthen

(Newser) - Ben Bernanke isn’t worried about a double-dip recession, despite an economy he acknowledged as unexpectedly troubled this year, reports MarketWatch . “I expect hiring to pick up from last month’s pace as growth strengthens in the second half of the year,” the Fed chairman told a meeting... More »

Bernanke Makes No News, Just Like He Hoped

He easily handles questions in first news conference

(Newser) - Ben Bernanke made a little history today by holding the first-ever news conference to explain Federal Reserve policy, and he should be pretty happy with the result, writes Agustino Fontevecchia at Forbes . After all, he faced "a complacent press that didn’t press him on the hard issues,"... More »

Fed Keeps Rates Low; Bernanke to Face Media

Ben Bernanke will host the Fed's first news conference on policy

(Newser) - No surprises from the Fed today: Rates are staying low, and its $600 billion bond-buying program remains on track to end in June, reports MarketWatch . The Fed sees the economic recovery moving at a "moderate pace" and downplayed the risks of inflation. Far more interesting will be Ben Bernanke'... More »

Foreign Banks Got Majority of Secret Fed Loans

Court forces Fed to release info

(Newser) - When the Federal Reserve opened its “discount window” at the height of the financial crisis, a lot of foreign banks lined up. The 97-year-old program hit an all-time high during October 2008, and during its peak week, 70% of the $110.7 billion doled out went to foreign banks,... More »

Fed Extends Bond Program

Shrugs off good economic news, says employment still in trouble

(AP) - The Federal Reserve unanimously agreed to extend its $600 billion Treasury bond-purchase program today, saying the economy isn't growing fast enough to lower unemployment. The decision came from a new lineup of voting members that includes two officials who have criticized the bond purchases. They have said the purchases could... More »

Inquiry Concludes: Financial Crisis Was Avoidable

Report blames mismanagement, poor regulation, excess risk

(Newser) - Corporate mismanagement, excessive risk-taking by Wall Street, and inadequate government regulation caused the 2008 financial crisis, according to a 576-page report by the Financial Crisis Inquiry Commission, due to be released today. The report blames policies by both the Clinton and Bush administrations, Fed chairmen Alan Greenspan and Ben Bernanke,... More »

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