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Dublin: 13 °C Thursday 18 July, 2019

#Ben Bernanke

# ben-bernanke - Tuesday 7 January, 2014

Janet Yellen becomes first female chair of US Federal Reserve

Yellen was nominated by President Barack Obama for the top job in October 2013.

# ben-bernanke - Thursday 13 September, 2012

US Federal Reserve announces plan to buy more debt to boost economy

Analysts were not surprised by the move which essentially amounts to so-called quantitative easing.

# ben-bernanke - Thursday 22 September, 2011

US markets slide despite Fed's $400bn bond investment

The US Federal Reserve announces the purchase of $400bn in 6-year and 30-year bonds, hoping to drive down interest rates.

# ben-bernanke - Friday 26 August, 2011

World stocks unsteady ahead of Bernanke speech

World stock markets are unsteady today ahead of a speech by US Federal Reserve Chairman Ben Bernanke, in which he will outline whether the Fed will take new steps to help the US economy avoid another recession.

# ben-bernanke - Monday 22 August, 2011

US Fed gave Irish banks €8bn in emergency loans

Data compiled by Bloomberg shows that Ireland’s banks got emergency loans from the US while being capitalised back home.

# ben-bernanke - Tuesday 16 August, 2011

Perry accused of murder threats against US Federal Reserve chair US Election 2012 This post contains videos

Perry accused of murder threats against US Federal Reserve chair

US presidential candidate Rick Perry reckons that if Ben Bernanke goes for another round of quantitative easing, it would be treasonous.

# ben-bernanke - Wednesday 15 June, 2011

US Fed Reserve chief calls on Congress to raise debt ceiling

Ben Bernanke warned that America’s huge federal budget deficit would have to be reduced, but didn’t indicate whether he supported taxation or spending cuts.

# ben-bernanke - Saturday 16 April, 2011

G20 countries agree guidelines aimed at preventing future financial crises G20

G20 countries agree guidelines aimed at preventing future financial crises

Despite the agreement, it is not clear what repercussions there would be for countries whose finances contain dangerous imbalances.

# ben-bernanke - Thursday 4 November, 2010

QE2: Fed announces $600bn second round of quantitative easing

The American central bank announces it will buy back $600bn of outstanding US bonds to lift the cash supply.

# ben-bernanke - Wednesday 22 September, 2010

Federal Reserve leaves rates unchanged for 20th month

The rate stays at between 0 and 0.25% – where it’s been since December 2008 – and will stay there for an “extended period”.

# ben-bernanke - Friday 3 September, 2010

Until very recently, Ireland was seen as Europe’s poster child of prudent reforms. Mr. Trichet himself highlighted Ireland as an example that Greece and other financially stricken nations should follow. His message was simple: If only Greece or Portugal or Spain would cut public wages, reduce the budget deficit and make structural reforms as Ireland had done, then growth could occur and default could be prevented.

But it is now apparent that Ireland has not done enough to stem its march toward further crisis. The ultimate result of Ireland’s bank bailout exercise is obvious: one way or another, the government will have converted the liabilities of private banks into debts of the sovereign (that is, Irish taxpayers), yet the nation probably cannot afford these debts. According to the Royal Bank of Scotland, Irish banks have debt worth 26 billion euros, or one-fifth of Ireland’s national income, coming due in the month of September alone. Ireland’s third-largest bank just announced it was likely to need 25 billion euros in total capital injections from the government (19 percent of G.N.P.), while Standard & Poor’s argues that this figure is too low. In total, the debts of Irish banks could easily result in a charge to government debt equal to one-third of G.N.P.

These debts need to be added to the fiscal deficit, which also remains dangerously out of control. This year, the government will run a deficit of 15 percent of G.N.P., and with nominal G.N.P. falling, it could well remain that high next year, even if the government cuts spending by the 2 to 3 percent of G.N.P. currently envisaged…

Peter Boone is chairman of the charity Effective Intervention and a research associate at the Center for Economic Performance at the London School of Economics. He is also a principal in Salute Capital Management Ltd.  Simon Johnson, the former chief economist at the International Monetary Fund, is the co-author of “13 Bankers.”

Read the full article from the New York Times Economix blog.

# ben-bernanke - Friday 27 August, 2010

THE CHAIRMAN OF THE United States Federal Reserve, Ben Bernanke, has admitted that the country’s economic recovery had slowed down – but was equivocal in dismissing any speculation of a potential double dip recession.

Earlier estimates of a 2.4% growth in the US economy this year have been revised downward in favour of a new projection of 1.6%, a growth Bernanke described as a “modest pace”.

Speaking at a Federal Reserve conference, Bernanke said the Fed was prepared to provide extra cash to the economy – but, crucially for some, didn’t fully indicate whether he thought such action would be necessary.

He said the Fed’s purchases of longer-term securities have been effective in lowering borrowing costs, and that the benefits of doing so again would outweigh the potential disadvantages.

Bernanke seemed to indicate that further long-term acquisitions would be more favourable to keeping interest rates low, or raising its inflation targets.

Treasuries prices fell in the immediate aftermath of the speech, with many investors having hoped that the Fed was on the verge of further investment in the market, while the Dow Jones also fell sharply but later went significantly higher.

The Fed had indicated earlier this month that it would not be reducing its $2.05 trillion securities portfolio, but investors had been waiting to see whether this meant it was planning to expand the portfolio in the near future.