- Dogs that talk: Researchers seek $10K for ‘No More Woof’ technology
- 1,000 firefighters called to battle stubborn Big Sur wildfire
- Black Friday brouhaha: Millions of Target shoppers hit by credit card theft
- Britain orders airplane to rescue citizens from violent South Sudan
- Mega Millions winner emerges as Georgia mom, in ‘disbelief’
- ‘Duck Dynasty’ Phil Robertson suspended ‘indefinitely’ for gay comments
- John Podesta eats crow: ‘I apologize to Speaker Boehner’
- U.S., China race to finish line on ‘invisibility cloak’
- Obama ‘cavalier’ in hiding foreign aid order, judge rules
- Prince Charles: Muslims are driving Christians from Mideast through persecution
Latest Ben Bernanke Items
The Federal Reserve has begun its second round of "quantitative easing" aimed at jump-starting an economy so anemic nearly one in 10 American workers remains unemployed, many for a year or more.
Federal Reserve Chairman Ben S. Bernanke went to Capitol Hill on Wednesday to defend himself against the latest assault by Republicans on the Fed's loose money policies.
"If only we had sold our stocks a few weeks ago." "If only I'd had the brakes checked before she drove up to the mountains." There are few sadder words than those of regret at letting time pass until the catastrophe hits. Neither individuals nor armies nor nations are exempt from the human tendency to wait too long before acting - and paying a terrible price for the delay.
While the worlds largest economies yammered through the night at last weeks Group of 20 summit in Seoul, the European Unions common currency headed toward a new crisis.
Last week, the Federal Reserve Board of Governors announced it would commence purchasing $600 billion in long-term Treasury and mortgage-backed securities until the middle of 2011. Known as quantitative easing (QE), the maneuver is a repeat of something the Fed did a couple of years ago.
When then-Federal Reserve Chairman Alan Greenspan artificially lowered interest rates in 2003 and 2004, it popped the housing bubble and allowed toxic subprime mortgages to poison the global economy. Since late 2008, when the recession became a reality for many people, the Federal Reserve dropped the interest rate from 2 percent to zero by the middle of 2009. Current Federal Reserve Chairman Ben S. Bernanke now thinks the economy will resurrect itself if interest rates are kept near zero.
As President Obama restores the Jimmy Carter-era solar panels to the executive mansion, Federal Reserve Chairman Ben S. Bernanke is bringing back Mr. Carter's monetary policy, running the printing presses faster than they've run since lava lamps and disco were in style.
I have learned a little more about an economic term over the past few weeks: quantitative easing, or QE. QE, in a nutshell, means putting more money out on the streets to stimulate the economy. The more available money, the more people will spend on goods and services. Employers eventually will hire, which will reduce the unemployment rate.
This past week was both an interesting one and for the most part one that turned out I would say as expected. I'm referring to both Election Day and the formal announcement of what many have come to call QE2, or Quantitative Easing Part 2, by the Federal Reserve.