WASHINGTON — Highlights from the Federal Reserve’s survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed’s 12 regional bank districts. ST. LOUIS (This region covers Missouri, Arkansas and Kentucky, and parts of Illinois, Indiana, Tennessee and Mississippi.) Economic conditions were mixed, [...] [...]
WASHINGTON — Federal Reserve chairman Ben Bernanke told Congress today that record-low interest rates are still needed to ensure that the economic recovery will last and to help ease the sting of high unemployment. In his twice-a-year report to the House Financial Services Committee, Bernanke struck a confident tone that the recovery should endure. But [...] [...]
ST. LOUIS, Mo. — In remarks Feb. 18 to the Economic Club of Memphis, St. Louis Fed president James Bullard discussed the historical context and deliberate design of the Federal Reserve System. He called for regulatory reform that strengthens – not weakens – the Fed’s ability to head off future financial crises. Bullard also addressed [...] [...]
WASHINGTON — The Federal Reserve predicts unemployment will stay high over the next two years because recession-scarred Americans are likely to stay cautious making for only a moderate-paced economic recovery. Fed policymakers say it will take “some time” for the economy and the jobs market to get back to normal. And, a minority think it [...] [...]
WASHINGTON — The Senate has confirmed Ben Bernanke for a second term as chairman of the U.S. Federal Reserve. The Senate voted 70-30 on yesterday to reappoint Bernanke amid criticism of his judgment ahead of the US financial crisis and his support for massive Wall Street bailouts. His supporters credited him for engineering a financial [...] [...]
WASHINGTON — Now that the U.S. economy is on the mend, the Federal Reserve this year can focus on how and when to pull back the stimulus money pumped out to fight the financial crisis. With his prospects for another term brightening, Fed chief Ben Bernanke will lead that effort. At their first meeting of [...] [...]
WASHINGTON — Support for Federal Reserve chairman Ben Bernanke’s confirmation for a second four-year term as head of the U.S. central bank mounted today as the White House appeared to stanch opposition that had roiled financial markets. Senate Majority Leader Harry Reid, a Democrat, expects a vote by the end of the week, his spokesman [...] [...]
ELYRIA, Ohio — President Barack Obama believes Federal Reserve chairman Ben Bernanke will win a second term, a spokesman said today, despite Senate concerns over steps the central bank will take to create jobs. Deputy press secretary Bill Burton said Obama has “a great deal of confidence” in the actions Bernanke already has taken and [...] [...]
ST. LOUIS, Mo. — During a speech Oct. 11 at the 51st-annual meeting of the National Association for Business Economics, St. Louis Fed president James Bullard reaffirmed the need for a Taylor-type policy rule for the Federal Reserve’s asset purchase program. Such a rule would help communicate how asset purchases may be adjusted as economic [...] [...]
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