Word: feds
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Appointed chairman of the President's Council of Economic Advisers in 2005, shortly before being nominated to lead the Fed...
...after being confirmed in January 2006 as the head of the U.S. Federal Reserve. At a Washington dinner a few months later, Bernanke responded to a question from CNBC anchor Maria Bartiromo, who asked whether the media and financial markets were right to think that he had signaled the Fed was done raising interest rates. "He said, flatly, no," she reported on her program at about 3:15 p.m. the following Monday, causing stock prices to drop sharply before the market closed. He called that move a mistake and vowed not to stray from "regular and formal channels" of communication...
...under increased scrutiny as a result of the global recession, however, the Fed chief saw fit to grant the first television interview since his appointment to 60 Minutes correspondent Scott Pelley. The last time a Fed chair gave a television interview was in 1987 when Alan Greenspan appeared on Meet the Press - an interview that was followed the next week by the largest single-day drop in stock market history. So why Bernanke's change of heart? He responded to that question quite plainly: "It's an extraordinary time. This is a chance for me, I think, to talk...
...think Bernanke is in a very difficult situation. Too many bubbles have been going on for too long. The Fed is not really in control of the situation." - Paul Volcker, Fed chief from 1979 to 1987, on Bernanke and the Fed's response to the rapidly declining economic situation. (New York Times, January...
...money paid to an operation that helped undermine AIG's viability should get nothing. Edward Libby, the feckless former head of Allstate (ALL) who was brought in to turn AIG around, apparently did not know about the bonuses until recently. In the brief note he sent to the Fed apologizing for the problem he said that the company's hands were tied. The employees getting the money had contracts guaranteeing them the payouts. Members of Congress have already asked whether the agreements were "legal." In a moment of lucidity, Lawrence Summers, a former Harvard president who is now the Obama...