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Tag Archives: Ben Bernanke

Stocks rally after Fed allays stimulus fears

NEW YORK — Stocks broke through record highs in early trading Thursday after Federal Reserve Chairman Ben Bernanke said the central bank is in no hurry to stop supporting the economy. Bernanke said the U.S. economy still needed help because unemployment remains high and inflation is below the Fed’s target. The Fed is currently buying $85 billion a month in bonds ...

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Fed sees moderate increase in regional economic activity

The Fed is reporting modest gains in regional as well as nationwide economic activity. U.S. economic activity has expanded over the last four months, though spending is reported to be flat or up only slightly, the Federal Reserve said in its Beige Book report issued Oct. 10. Manufacturing sectors activity was mixed but, on balance, somewhat improved since the last ...

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Hancock CEO Tapped for Federal Reserve Board

Hancock Holding Company president and CEO Carl J. Chaney has been appointed to the board of directors for the New Orleans office of the Federal Reserve Bank of Atlanta, according to a morning news release. The three-year term is effective January 1. The board of directors will provide economic information from their region to the district bank president and other ...

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Bankers group encouraged by bid to quash debit fees cap

The American Bankers Association says legislation introduced in the Senate last Tuesday gives it hope that banks can avoid a pending cut in the fees they receive from merchants on debit card transactions. The so-called Durbin amendment, named after sponsor Sen. Dick Durbin of Illinois, mandates the Federal Reserve’s Board of Governors put a cap on the fees that can ...

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Fed poised to unveil new program to aid economy

WASHINGTON — The Federal Reserve is poised to adopt a new plan to jolt the economy. It’s a high-stakes gamble that could shape Chairman Ben Bernanke’s legacy. The Fed is all but certain to detail its plan for buying more government bonds when it wraps up its two-day meeting Wednesday. Those purchases should further lower interest rates on mortgages and ...

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