News Tag: Ben Bernanke
February 24, 2010
Chairman of the Federal Reserve Ben Bernanke has today said US interest rates will need to stay low in order to keep the economic recovery on track.
In a testimony before Congress, Bernanke said there was a "nascent economic recovery" and said long-term recovery will depend on private sector’s demand for goods and services.
Bernanke, who was recently awarded ...
Federal Reserve chairman pledges low interest rates for long-term
by Kay Murchie
January 29, 2010
Fifty-six-year old Ben Bernanke has won a second term as chairman of US central bank, the Federal Reserve.
The US Senate confirmed the appointment after it voted 77-23 in favour of Bernanke, whose current term ends on Sunday.
At the time of his nomination last August, US President Barack Obama said: “Mr Bernanke had helped prevent a repeat of the Great Depression.”
Last weekend, Mr ...
Bernanke wins second term
by Kay Murchie
December 17, 2009
The Federal Reserve yesterday opted to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected.
The Fed acknowledged that the economy is strengthening and said it will keep rates “exceptionally low” for “an extended period”.
Evidence that a recovery is on track came yesterday after official data revealed that US inflation remains ...
Fed keeps interest rates at record low level
by Kay Murchie
October 9, 2009
US Federal Reserve Chairman Ben Bernanke told a press conference at the Fed's Washington headquarters yesterday that monetary policy will need to be tightened when the economy recovers in order “to prevent the emergence of an inflation problem down the road."
Following the press conference, many analysts said the Fed chairman is suggesting that the US is gradually but steadily exiting from ...
Fed chief comments boost dollar
by Kay Murchie
September 18, 2009
The US economy has received a further boost after the Commerce Department revealed a rise in housing starts for the month of August.
According to the Commerce Department, construction of new US homes rose 1.5% in August to an annual rate of 598,000 properties.
The rise was the fastest since November 2008, giving hope that the world’s largest economy is emerging from recession. ...
US housing starts rise in August
by Kay Murchie
September 16, 2009
The Dow Jones index rose today on the back of positive economic data and followed gains seen over the last week.
In seven out of the last eight days, the Dow Jones has risen. By mid-session in New York, the index gained 0.6% to 9,737.3 points with European shares rising in response.
London’s FTSE 100 index closed at its highest ...
Shares rises on signs of US economic recovery
by Kay Murchie
Fed chairman: Recession is very likely over
by Kay Murchie
September 3, 2009
Minutes from the latest Federal Reserve meeting have revealed that policymakers are optimistic that the US downturn is coming to an end.
However, the minutes did say that the economy is “likely to recover only slowly during the second half of this year and all saw it as still vulnerable to adverse shocks."
Furthermore, policymakers expressed their uncertainty as to how ...
Fed minutes reveal upbeat outlook for US economy
by Kay Murchie
August 25, 2009
The world’s largest economy continues its run of good news after consumer confidence rose in August.
The closely-monitored Consumer Confidence Index from the Conference Board business organisation grew to 54.1 from an upwardly revised 47.4 the previous month.
The latest reading exceeded market expectations but it is still well below the 90 mark - the minimum level associated with a healthy economy. ...
US consumer confidence reading beats expectations
by Kay Murchie
Ben Bernanke nominated for further four-year term
by Kay Murchie
Bernanke expected to be re-nominated for second Fed term
by Kay Murchie
August 24, 2009
Positive economic news and hopes of a global recovery boosted the FTSE 100 again today after the index soared to a ten-month high and smashed through the 4,900 mark.
The gains followed those seen in Asia earlier today, which were spurred on by Federal Reserve chairman Ben Bernanke’s comments last Friday.
Mr Bernanke’s comments came at a speech in the annual central bankers’ ...
FTSE 100 soars to 10-month high
by Kay Murchie
August 21, 2009
Federal Reserve chairman Ben Bernanke said today the prospects for economic recovery “appear good” and sent global stock markets higher.
The Dow Jones index gained 1%, London’s FTSE 100 index climbed 2% to close at 4,850.89. Germany's Dax index rose 2.8%, while France's Cac 40 added 3.1%.
Mr Bernanke’s comments came at a speech in the annual central bankers’ retreat in Jackson Hole, ...
Fed statement boosts stock markets
by Kay Murchie
May 6, 2009
Figures released by ADP Employer Services have revealed that fewer jobs were lost in the private sector in April in the US.
The news was welcomed on the stock markets with the Dow Jones industrial average up by 76.14 points to 8,486.79 in early trading.
Furthermore, the euro rose against the dollar to $1.3355, while the US currency ...
US shares rise as fewer jobs axed in private sector
by Kay Murchie
April 16, 2009
US President Barack Obama suggested earlier this week that the US economy is seeing signs of progress.
However, his optimism may have been quashed after figures show that the number of US citizens losing their homes soared by 44% in March. Furthermore, a survey carried out by Foreclosures.com established that 175,199 homes were repossessed by lenders last month. ...
US housing stats knock back Obama’s hopes of a recovery
by Kay Murchie
April 14, 2009
Barack Obama has suggested that the US economy is seeing signs of progress but has stressed that times are still challenging.
The President, who was delivering his latest economic speech at Georgetown University, said that this year will still be tough for the US economy with rising unemployment and more repossessions.
Last month alone, the economy lost 663,000 ...
US President suggests signs of recovery but retail sales fall
by Kay Murchie
March 6, 2009
Official figures from the US Labor Department revealed today that 651,000 jobs were lost in February in the US, taking the jobless rate 8.1% - the highest level since December 1983.
Meanwhile, the organisation adjusted its January figures upwards to 655,000, while December’s losses were revised to 681,000 - the biggest single monthly decline since October 1949.
A total ...
US Labor Department reveals worse than expected jobless figures
by Kay Murchie
March 5, 2009
According to the Beige Book, an influential source of information released by the US Federal Reserve, over the last six weeks the US economy has deteriorated.
The report, which is also used to determine interest rates for the nation and will be used at the next meeting, said an improvement was not expected before the end of 2009 or early 2010.
The US ...
Economic conditions in the US weaken
by Kay Murchie
March 3, 2009
Ben Bernanke, Federal Reserve chairman, is calling for aggressive action to stimulate the US economy.
Speaking in front of the Senate Budget Committee in Washington, Mr Bernanke said that stabilising financial markets is vital for economic recovery.
Mr Bernanke said progress has been made on the financial side since last autumn but more bold action needs to ...
US Fed chairman calls for aggressive action to prevent prolonged recession
by Kay Murchie
February 24, 2009
US Federal Reserve chairman Ben Bernanke has warned that unless policymakers can implement measures to stabilise the financial system, the world’s largest economy could see the recession lasting until 2010.
Mr Bernanke made the comments to the Senate Banking Committee in Washington but did state that economic turnaround depends on the success of actions taken by the administration, the Congress, ...
Fed warns of prolonged recession, house prices fall
by Kay Murchie
