Washington (CNN) – The economy is expanding again, Federal Reserve Chairman Ben Bernanke told Congress Tuesday, but he warned that what lawmakers do about the looming forced budget cuts could slow the upward trend.
The economy has picked up after an unexpected fourth quarter 2012 when growth was close to zero, he said in his twice-a-year report on monetary policy.FULL STORY
(CNNMoney) - The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy.
The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.FULL STORY
New York (CNNMoney) - Take that Rick Perry! Ben Bernanke headed down to Texas to rally the troops Thursday, and didn't get treated so "ugly" after all.
The Federal Reserve Chairman spoke to soldiers at Fort Bliss, offering up tips to improve their job prospects and personal finances. His speech - along with a question-and-answer session - came about three months after Perry, the Texas governor and a Republican presidential candidate, mildly threatened Bernanke and called him "almost treasonous."FULL STORY
NEW YORK (CNNMoney) - Republican leaders in Congress have asked Federal Reserve Chairman Ben Bernanke to refrain from any further monetary stimulus during policy makers' two-day meeting ending Wednesday.
"Respectfully, we submit that the board should resist further extraordinary interventions in the U.S. economy, particularly without a clear articulation of the goals of such a policy, direction for success, ample data proving a case for economic action and quantifiable benefits to the American people," read a letter from Republican leaders and addressed to Bernanke.FULL STORY
New York (CNNMoney) - Sounding a bit like a broken record, Ben Bernanke once again urged lawmakers to not put the recovery at risk as they focus on slashing government spending over the long haul.
While the Federal Reserve Chairman's comments were nothing new, they seemed perfectly timed to coincide with the first meeting of the 12-member bipartisan debt super committee Thursday.FULL STORY
NEW YORK (CNNMoney) - Remember that crazy, bitter debt-ceiling debate this summer? The one that created a half-baked debt reduction plan and led to the country's first-ever credit-rating downgrade?
Federal Reserve Chairman Ben Bernanke certainly does. And he had a simple message for Congress on Friday: Don't do it again. Seriously. Never, ever, ever again.FULL STORY
(CNNMoney) - Federal Reserve policymakers will take a closer look next month on what steps they can take to jumpstart the stalled U.S. economy, but Fed Chairman Ben Benanke warned Friday that Congress better help too.
In a speech in Jackson Hole, Wyoming, the chairman announced that a one-day meeting of the Fed, originally set for Sept. 20, is being expanded to two days "to allow a fuller discussion" of what the Fed should do to respond to "disappointing" growth.FULL STORY
Bedford, New Hampshire (CNN) – Rick Perry chuckled but did not back down from his controversial charge that printing more U.S. dollars would be "treasonous" when he was asked about the Federal Reserve at a political breakfast Wednesday.
"I got a lecture about that yesterday," he said, causing scattered laughter in the audience at the Politics and Eggs forum in Bedford.
Dubuque, Iowa (CNN) - Texas Gov. Rick Perry isn't backing down from comments he made in Iowa on Monday night when he said it would be "treasonous" for Federal Reserve Chairman Ben Bernanke to try to stimulate the economy by printing more money.
"I am just passionate about the issue and we stand by what we said," the Republican presidential candidate said after a luncheon with small business owners in Dubuque.
(CNNMoney) - It would be "treasonous" if Chairman Ben Bernanke tried to use Federal Reserve policy to stimulate the economy before the election, Texas Governor Rick Perry said at a campaign stop in Iowa.
During an appearance in Cedar Rapids, in what appeared to be a backyard with a child's slide, Perry invoked folksy language to explain what he'd like to do to Bernanke if the chairman decides to engage in more quantitative easing.FULL STORY