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Ben S. Bernanke
Latest Ben S. Bernanke Items
The Great Snow of '14 freed Janet Yellen from her obligation to testify before Congress for a second day, and it's just as well. More talk would have been redundant. The gist of her tenure as chairman of the Federal Reserve, as she sees it, is clear.
Janet Yellen, in her first appearance before Congress as the new chair of the Federal Reserve, sparked a major rally in global financial markets Tuesday by pledging to stick with her predecessor Ben S. Bernanke’s plan to gradually end the easy-money policies put in place during the recession.
The Federal Reserve on Wednesday shook global markets, cutting back once again on its economic stimulus program and signaling that a recent softening of job gains and turmoil in emerging markets will not deter it from ending its extraordinary easing measures this year.
The "trickle-down" theory may be a lie for Thomas Sowell, but it certainly is not for Barack Obama ("De Blasio's spiel devoid of any contaminating speck of truth," Web, Jan. 6). The past five years have presented the biggest practice of trickle-down economics I have witnessed in my lifetime. The upper 50 percent of the population had its equity assets fully restored, and their bonds inflated to all-time highs. Perhaps you lost your house or your job, but the same was not true of the elite. They had to endure a little pain in 2008, but it all came back to them in spades.
With the Senate's approval Monday of Janet Yellen to become the first female Federal Reserve chair at the end of the month, she takes on the difficult mission of smoothly ending the unprecedented $4 trillion of stimulus programs launched by her predecessor, Ben S. Bernanke.
The Senate Monday voted 56 to 27 to confirm Federal Reserve Board vice chairman Janet Yellen as the next chairman, succeeding Ben S. Bernanke when he departs Jan. 30.
The Federal Reserve's long-delayed decision to start pulling back from its multi-trillion-dollar stimulus program was filled with self-doubts about the still-shaky Obama economy.
The Federal Reserve gave the first hint that it will ease off the economic accelerator, announcing plans to "modestly reduce the pace" of its asset purchases in 2014.
Citing underlying strength in the recovering U.S. economy, the Federal Reserve surprised world financial markets Wednesday by cutting back its bond purchase program by $10 billion a month in 2014.