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NEWS ABOUT: Ben Bernanke

Bernanke Ready to Spend More to Prop Up Economy

Don't worry about inflation, he adds

(Newser) - Federal Reserve Chairman Ben Bernanke is such a fan of the decision to buy $600 billion in Treasury securities to prop up the economy that the Fed is prepared to spend even more. Added economic stimulus might still be needed because the current recovery is weak, Bernanke warned in an... More »

Republicans Can't Wait for Debt 'Blood Bath'

One of our parties just doesn't care about 'making American governable'

(Newser) - Alan Simpson must be a serious moderate Republican—after all, President Obama appointed him to co-chair his debt commission. Well here’s what this moderate said Friday: “I can’t wait for the blood bath in April. … We’ve got guys who will not approve the debt limit... More »

Fed Fires Back at China, Germany

Soaring unemployment an 'unacceptable outcome,' says Ben Bernanke

(Newser) - Ben Bernanke offered a full-throated defense of the Fed’s recent actions in a speech in Frankfurt today, saying the $600 billion quantitative easing plan was essential to reducing joblessness. “On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed... More »

Palin to Bernanke: Cease and Desist!

Alaskan slams 'quantitative easing' policy

(Newser) - Chinese and German finance chiefs enraged by Fed chief Ben Bernanke's plans to inject $600 billion into the economy by buying Treasury bonds have found a somewhat unlikely ally: Sarah Palin. The Alaskan slammed the "quantitative easing" policy in a speech to a trade group yesterday, using terminology foreign... More »

Bernanke's Rationale Looks Too Rosy

Felix Salmon isn't thrilled with Fed chief's op-ed

(Newser) - The Fed's controversial plan to buy $600 billion worth of Treasuries to stimulate growth has brought the phrase "quantitative easing" out from the obscurity of financial blogs. Will it work? Two columns today on the subject from Ben Bernanke himself in the Washington Post and Felix Salmon at Reuters... More »

Bernanke: Fed Probing Foreclosure Scandal

Will examine debacle's effect on real-estate market

(AP) - Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclose on people's homes, Federal Reserve Chairman Ben Bernanke said today. "We are looking intensively at the firms' policies, procedures, and internal controls," Bernanke said. "We take violations of... More »

Bernanke: Fed Prepared to Take Action

Says inflation, employment both too low

(Newser) - Ben Bernanke signaled today that the Federal Reserve intends to take unconventional steps to further stimulate the economy. Bernanke said that given the low rate of inflation—it’s running below the Fed’s 2% target—and high unemployment rate, “there would appear—all else being equal—to be... More »

Fed: We Could Help Economy...

...But we won't just yet

(Newser) - The Federal Reserve yesterday reassured the public that it was “prepared to provide additional accommodation if needed” to support the recovery, but that it didn’t think it was needed just yet. But merely suggesting the possibility was enough to send markets in the right direction, with interest on... More »

Bernanke: We Must Fix the 'Too Big to Fail' Problem

Fed chair defends financial crisis actions

(Newser) - The government must be ready to close even the biggest banks if they threaten to bring down the financial system, Ben Bernanke said today, in testimony before the Financial Crisis Inquiry Commission. "If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved,"... More »

Bernanke: Fed Still Has Tricks Up Its Sleeves

... but it's not going to use them unless things get even worse

(Newser) - Ben Bernanke admitted that economic growth was “less vigorous than expected,” in his speech at Jackson Hole today, but said the Federal Reserve wasn’t going to act just yet. The Fed Funds Rate is near zero, but Bernanke said the central bank still had some “unconventional... More »

Bernanke, Please Heed Your Own Advice

Your dithering is keeping Americans unemployed

(Newser) - If only Ben Bernanke would listen to himself—or at least the self that blasted Japan's government in the '90s for passively allowing the economy to wither, writes Paul Krugman. Back then, he urged Japan to "abandon its excessive caution" and accused economic officials of using flimsy technical excuses... More »

Fed to Meet as Economy Sputters

Central bank expected to tackle deflation danger

(Newser) - The Federal Reserve meets today to decide what medicine the wheezing American economy needs, and world markets will be keenly watching for the outcome. With no new stimulus spending from Congress likely, the central bank is the only body poised to react to signs that the recovery is running out... More »

Bernanke: Unemployment Will Be High for Years

Financial picture is 'unusually uncertain'

(Newser) - Ben Bernanke isn't exactly spreading good tidings in his semiannual report to Congress. Two of the lowlights, from the New York Times :
  • Unemployment: Expect it to remain high, as in well above 7%, through the end of President Obama's first term. Bernanke said it will take "a significant amount
... More »

Gutless Fed Ignores Deflation

Bernanke should, and does, know better

(Newser) - Back in 2002, academic and then-lowly Fed official Ben Bernanke gave a speech explaining that we needn’t worry about falling into a deflation trap like the one that has long gripped Japan, because the Fed had all the tools to stop it. Well, now Bernanke runs the Fed, and... More »

Bernanke Reveals Plan to Tighten Credit

Federal Reserve will use new tool to boost interest it pays banks

(AP) - Ben Bernanke has begun outlining the Fed's strategy for reeling in stimulus money once the economy has recovered further, telling the House Financial Services Committee today that the Reserve will likely increase the interest rate it pays banks that deposit money with it. That would encourage banks to leave more... More »

Bernanke Gets Second Term

Senate confirms him to remain in his post as Fed chairman

(AP) - Ben Bernanke will keep his job as chairman of the Federal Reserve. The Senate today agreed to let him serve a second term by a vote of 70-30, the closest ever margin for a Fed chief nominee. The vote came amid roiling public anger over the economy and stubbornly high... More »

Geithner: Bernanke Ouster Would Freak Out the Market

But Treasury Secretary isn't worried about reconfirmation

(Newser) - Timothy Geithner is behind Ben Bernanke, and thinks the markets are, too. When Politico asked how the markets would react if the Senate didn’t confirm the Fed chairman for a second term, Geithner replied, “I think the markets would view that as a very troubling thing to the... More »

Bernanke Nom Builds Steam

Geithner, Dodd, Gregg all 'very confident' he'll win second term

(Newser) - Amid gathering clouds over his reconfirmation parade, Ben Bernanke's chances have appeared to turn around, with Tim Geithner joining key banking committee senators Chris Dodd and Judd Gregg in saying he is "very confident" the Fed chair would succeed. A White House aide further confirmed to Politico that President... More »

Boxer, Feingold Oppose Another Bernanke Term

Liberal Democrats join rising tide against Fed chair's reappointment

(Newser) - Two Democratic senators said today they won't vote to reappoint Ben Bernanke as Fed chairman. Barbara Boxer and Russell Feingold added to the groundswell of opposition imperiling a second 4-year term for Bernanke, which requires 60 votes. “Our next Federal Reserve chairman must represent a clean break from the... More »

Support Wanes for New Term for Ben Bernanke

Populist anger is getting to Senate Democrats

(Newser) - Ben Bernanke's confirmation for another term as chair of the Federal Reserve is looking shaky, Jake Tapper reports, as Senate Dems, responding to populist rage against Wall Street, weaken in their support. With a hold on the nomination from three senators, 60 votes will be required to bring it to... More »

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