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Tag Archives: Federal Reserve

Bernanke: Record-low interest rates a must

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 he also sought to tamp ...

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Bullard calls for stronger Fed

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 the U.S. economic recovery now ...

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Fed sees continued high unemployment

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 could take more than five ...

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Bernanke appointed to another term

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 industry rescue in time to ...

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Fed to deal with stimulus funding

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 the year, Fed policymakers are ...

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Bernanke lands more support

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 said Monday. And David Axelrod, ...

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Obama believes Bernanke will win another term

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 believes he is “the best ...

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Bullard: New policy rule needed

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 conditions change, while remaining consistent ...

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