Fed Chair Bernanke: Smart Consumers Are Good For The Whole Economy

Fed Chair Bernanke: Smart Consumers Are Good For The Whole Economy

Too often when people talk about being a good consumer or being educated about financial matters, the big picture is ignored in favor of images of individual wealth and well-being. But Federal Reserve Chairman Ben “It rhymes with stanky” Bernanke says that it’s really in everyone’s best interest for us to be smart about what we do with our money. [More]

Bernanke: "Far Too Early To Declare Victory" Over Recession

Bernanke: "Far Too Early To Declare Victory" Over Recession

For the last two years, all upbeat statements about the economy have been followed with a huge “but,” and Federal Reserve Chairman Ben “Feel the” Bernanke isn’t going to buck that trend. [More]

Fed Chairman Says "Too Big To Fail" Banks Should Have "Living Wills"

Fed Chairman Says "Too Big To Fail" Banks Should Have "Living Wills"

Ben Bernanke doesn’t like systemic risk! Shocking, we know. In a speech he gave in Orlando, Florida, the Chairman expressed outrage at the bailouts of too big to fail companies and said shareholders should not be sheltered from losses. [More]

Low Interest Rate Party To Continue For An Extended Period

Low Interest Rate Party To Continue For An Extended Period

Fed Chairman and former South Of The Border employee, Ben Bernanke, says these historically low interest rates will continue… but not forever. [More]

http://consumerist.com/2009/05/05/fed-chairman-ben-bernanke-says/

“We are hopeful that the very sharp decline we saw beginning last fall through early this year will moderate considerably in the near term and we will see positive growth by the end of the year,” Bernanke told the Joint Economic Committee.

Bank Of America CEO: The Bush Administration Made Me Do It!

Bank Of America CEO: The Bush Administration Made Me Do It!

New York Attorney General Andrew Cuomo’s office is at it again. They’ve been investigating the circumstances that led to the merger of Bank of America and Merrill Lynch and the subsequent bonus payments to executives. In a letter to Senator Chris Dodd (D-CT), chairman of the Senate Banking Committee, Cuomo quotes Bank of America CEO Ken Lewis as saying that former Treasury Secretary Hank Paulson threatened him with removal from his position and mass firing of the board and senior management if he didn’t allow the merger to go through.

Federal Reserve Chairman Ben Bernanke's Childhood Home Sold After Foreclosure

Federal Reserve Chairman Ben Bernanke's Childhood Home Sold After Foreclosure

Federal Reserve Chairman Ben Bernanke is from a small town in South Carolina called Dillon — a town where the impact of the economic meltdown is being felt keenly.

Markets Rally On Bernanke Comments, Citigroup Profits

Markets Rally On Bernanke Comments, Citigroup Profits

Full Text of Bernake’s Speech [Federal Reserve] (Photo: AGRR 4059)

Fed Chairman Discusses Passing Another Stimulus Package

Fed Chairman Discusses Passing Another Stimulus Package

Fed Chairman Ben Bernanke suggested today, while testifying before the House Budget Committee, that Congress should consider passing some sort of economic stimulus package that would improve access to credit by homebuyers and other borrowers.

Federal Reserve Chairman Ben Bernanke's Thoughts On Health Care Reform

Federal Reserve Chairman Ben Bernanke's Thoughts On Health Care Reform

Federal Reserve Chairman Ben Bernanke shared some thoughts on health care reform from “an economist’s perspective” today. He was short on proposals, but did suggest that we concentrate our attention on improving the cost-effectiveness of our health care system:

New Treasury Department Plan: "Rehashed Industry Wish-List"

New Treasury Department Plan: "Rehashed Industry Wish-List"

PREVIOUSLY: Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System

Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System

Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System

Treasury Secretary Henry Paulson wants to consolidate the nation’s financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren’t hampered by nuisances like regulation. After the jump we’ll explain the consumer impact of the plan and introduce you to your three new regulators.

Fed Hints At Further Rate Cuts

Fed Hints At Further Rate Cuts

In a speech today Feddy Reserve Chairman Ben Bernanke suggested that even steeper interest rates could be in the works. His strong language suggests that they’re considering a half-point drop, down from the current rate of 4.25%. If they follow through, the cut would be expected to be announced at the next Reserve Board meeting on January 29th. Last time rates were cut we took a look at how it affects the price of a bushel of corn in Kansas, i.e., you the average consumer, and another rate cut would be more of the same.