Federal Reserve Chairman Ben Bernanke, in a speech on foreclosures and housing finance, said he expects a broad federal banking and housing agency investigation into alleged improper foreclosures to conclude next month. And he lauded the Chicago Federal Reserve for its analysis of foreclosure problems at the community level.
Inside these posts: Ben Bernanke
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Bernanke: Fed ready to give more help
Fed Chairman Ben Bernanke. (AP)
Federal Reserve Chairman Ben S. Bernanke on Friday laid out a case for the central bank to take further action to bolster growth, citing the risks of prolonged high unemployment and a U.S. economy slipping into a deflationary spiral.
In a much-anticipated speech in Boston, Bernanke did not spell out details of how and when the Fed would take action. But the first option that he mentioned was a program of buying additional assets, namely government bonds, in an effort to drive down long-term interest rates and stimulate economic growth.
The central bank is widely expected to announce such a program, known as quantitative easing, at its next policymakers’ meeting on Nov. 2 and 3. Get the full story »
Bullard: As goes centrist Bernanke, so goes Fed
St. Louis Federal Reserve Bank President James Bullard said Friday he sees risks to further unconventional monetary easing by the U.S. central bank.
“There are risks to the balance sheet expansion policy, and you’ve got to balance those risks,” Bullard told CNBC. Get the full story »
Fed must do its part for economy, Bernanke says
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. economic recovery remains disappointingly slow with unemployment too high.
The Fed has a role to play in returning the economy health, he told teachers at a town-hall event.
“We certainly have in the near term and the medium term…some very difficult challenges,” he said. Get the full story »
Bernanke: Policy has not delivered robust recovery
Federal Reserve Chairman Ben Bernanke acknowledged the economics profession has a lot to answer for after the financial crisis of 2007-2009, including why economists have been unable so far to engineer a healthy recovery. Get the full story »
Fed firm on monetary policy, but ready to act
The Federal Reserve said Tuesday it stood ready to provide additional support to bolster a modest economic recovery, suggesting it may be preparing to do more to keep unemployment from rising and prices from falling. Get the full story »
Bernanke: Fed will act if economy falters
Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
Economy slows, 2Q GDP revised to 1.6%
U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed on Friday. Gross domestic product expanded at a 1.6 percent annual rate, the Commerce Department said, instead of the 2.4 percent pace it had estimated last month. Get the full story »
Bernanke’s portfolio is doing OK, disclosure shows
Last year Ben Bernanke was able to make up for the losses suffered in 2008 thanks, in part, to the stock market recovery he helped bring about.
The U.S. Federal Reserve chairman’s wealth rose last year, according to financial disclosure forms released Friday by the central bank. As of the end of 2009, Bernanke’s asset holdings were $1.2 million to $2.5 million, the same as in 2007. That compares with $850,000 to $1.9 million in 2008, when stocks were walloped by the worst financial crisis since the 1929 Wall Street Crash. Get the full story »
