Ben Bernanke

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Bernanke, Please Heed Your Own Advice
Bernanke, Please Heed
Your Own Advice
paul krugman
Aug 13, 2010 1:02 PM CDT

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...

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...

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
...

Gutless Fed Ignores Deflation
 Gutless Fed Ignores Deflation 
Paul Krugman
Jul 12, 2010 11:26 AM CDT

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...

Bernanke Reveals Plan to Tighten Credit

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

(Newser) - 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...

Bernanke Gets Second Term
 Bernanke Gets Second Term 
Jan 28, 2010 3:20 PM CST

Bernanke Gets Second Term

Senate confirms him to remain in his post as Fed chairman

(Newser) - 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...

Geithner: Bernanke Ouster Would Freak Out the Market
Geithner: Bernanke Ouster Would Freak Out the Market
Interview
Jan 25, 2010 12:06 PM CST

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...

Bernanke Nom Builds Steam


 Bernanke Nom 
 Builds Steam 
WH, DODD, GREGG 'VERY CONFIDENT'
Jan 24, 2010 9:05 AM CST

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...

Boxer, Feingold Oppose Another Bernanke Term
Boxer, Feingold Oppose Another Bernanke Term
UPDATED
Jan 22, 2010 4:15 PM CST

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...

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...

Fed Earns Record $45B
 Fed Earns Record $45B 

Jan 12, 2010 1:22 AM CST

Fed Earns Record $45B

Efforts to save economy result in windfall

(Newser) - The Federal Reserve's efforts to keep the economy afloat last year earned it the highest profits in its 96-year history. The Fed—which funds itself and turns its earnings over to the Treasury—made a total of $45 billion last year, dwarfing the profits of many big banks. Interest on...

Ignore Glimmers of Hope, Economy's Still in the Tank
Ignore Glimmers of Hope,
Economy's Still in the Tank
PAUL KRUGMAN
Jan 4, 2010 8:48 AM CST

Ignore Glimmers of Hope, Economy's Still in the Tank

If Obama takes his foot off the gas, it'll be 1937 all over again

(Newser) - Don’t believe the hype, ignore any rising GDP or employment figures, and whatever you do don’t call it a recovery—or we’re going to wind up right back where we started, argues Paul Krugman in the New York Times . There are indeed positive numbers coming, and with...

Bernanke: Interest Rates May Rise

Fed chair leaves door open, but emphasizes reform

(Newser) - Ben Bernanke today left the door open to higher interest rates, saying the increase might be needed to prevent new speculative investment bubbles from forming. But for critics who blame the Fed for feeding that speculative housing boom by holding interest rates too low for too long after the 2001...

10 Lies Wall St. Told Us in '09
 10 Lies Wall St. Told Us in '09 
OPINION
Dec 29, 2009 9:13 AM CST

10 Lies Wall St. Told Us in '09

It's been a bumper year for BS from the big banks, writes Nomi Prins

(Newser) - As Wall Street happily trots off into 2009's sunset, same old bad habits in tow, things aren't looking so hot on Main Street—no matter the crocks the bankers sold us, writes Nomi Prins at AlterNet . Here's some of Wall Street's finest whoppers of the year.
  • The economy has improved.
...

Posse Helped Tiger Woods Sneak Around
Posse Helped Tiger Woods Sneak Around
'you've got to be careful'
Dec 20, 2009 2:56 PM CST

Posse Helped Tiger Woods Sneak Around

Small group of friends cautioned golfer, then circled the wagons

(Newser) - The small group of friends who make up Tiger Woods' inner circle warned the golfer his extramarital shenanigans were going to cause trouble, but he ignored them—and they've stuck with him through the explosive revelations that are threatening to sink his career. "We said, 'You've got to be...

Banking Panel Snipes at Bernanke, But Backs Him

The 16-7 vote reveals unease about Fed chairman

(Newser) - The Senate banking panel endorsed Ben Bernanke’s nomination for a second term atop the Fed, but it was hardly a slam dunk for Time’s new person of the year. The 16-7 vote was a far cry from his original, near-unanimous appointment, with only four of the committee’s...

Fed Keeps Rates Low
 Fed Keeps Rates Low 
Dec 16, 2009 2:10 PM CST

Fed Keeps Rates Low

But central bank sees hope amid slow recovery

(Newser) - The Federal Reserve has decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment. But in a more upbeat assessment, the Fed says the US economy has "continued to...

Time Names Ben Bernanke Person of the Year

Beats out Usain Bolt, Nancy Pelosi, and Stanley McChrystal

(Newser) - Time has named Ben Bernanke its “Person of the Year” for 2009, crediting him with saving the world’s financial system and dubbing him “the most powerful nerd on the planet.” This year was all about the economy, explains Michael Grunwald in his voluminous feature, “and...

Legendary Economist Paul Samuelson Dead at 94

Nobel laureate write classic intro text for 'dismal science'

(Newser) - Paul A. Samuelson, the first American Nobel laureate in economics and a familiar name to generations of college students, died today at his home outside Boston. He was 94. Ben Bernanke praised his former MIT professor as "a titan of economics," and a colleague said of their fellow...

Fed Needs to Create Jobs, Cuz Obama Can't
Fed Needs to Create Jobs, Cuz Obama Can't
PAUL KRUGMAN
Dec 11, 2009 6:09 AM CST

Fed Needs to Create Jobs, Cuz Obama Can't

President's hands are tied by balky GOP, lukewarm liberals

(Newser) - America needs to add a whopping 18 million jobs to its economy over the next five years to get anywhere near full employment, and it's the Federal Reserve that needs to do it, writes Paul Krugman. President Obama's hands are tied by obstructionist Republicans and lukewarm support from his own...

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