The Hill | Rep. Ron Paul made absolutely bizarre allegations about the Federal Reserve’s involvement in Iraqi weapons deals and the Watergate scandal, chairman Ben Bernanke said Wednesday.   Keep Reading

Breaking News for Bernanke

Asia Stocks Mixed After Bernanke Signals Low Rates
Asia stock markets tumble on worries about slump.

Bernanke faces tough choices, lousy options
Federal Reserve Chairman Ben Bernanke is sailing further into uncharted territory as he tried to unwind the central bank’s historic intervention in the economy..

Bernanke Sees Low Rates Amid Signs Of Weak Rebound
Facing pressure, Bernanke to address lawmakers.

Bernanke Expects Extended Low Rates
Ben S. Bernanke did not change his outlook on the economy, but he did announce two significant steps to improve accountability of the Fed..

Fed’s Bernanke faces multiple perils
Federal Reserve Chairman Ben Bernanke is sailing further into uncharted territory as he tried to unwind the central bank’s historic intervention in the economy..

Bernanke: Don’t Expect Unemployment to Drop
Federal Reserve Board Chairman Ben Bernanke told a congressional hearing the economy is in a “nascent” recovery. But he said unemployment may not drop below 7 percent until the end of 2012, and interest rates will have to remain low for a while..

Stocks Rebound As Bernanke Sees Rates Staying Low
Stocks point higher ahead of rush of earnings.

Senate Passes Pared-Down Version of Jobs Bill- Bernanke: Sustained Recovery Still in Question
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Bernanke urges US Congress to plan for deficit cuts
Federal Reserve chairman Ben Bernanke says fiscal exit strategy is important for US economy’s prospectsFederal Reserve chairman Ben Bernanke has urged the US Congress to bolster market confidence by drawing up plans to address America’s gaping budget deficit.Giving his twice-yearly testimony to the house financial services committee, the chairman agreed that the current deficit path was unsustainable. He warned that a loss of confidence by bondholders could start to push up interest rates unless politicians had a clear exit strategy from emergency fiscal policy.”We have a debt that will continue to grow … I do think it’s important to look at the deficit as it goes forward,” Bernanke said, adding that it would provide a powerful boost to the recovery in market confidence “if there were a sustainable, credible plan for a fiscal exit”.However, he stressed that President Obama’s huge anti-recession spending plan had helped to shield the economy from a deeper recession over the past year.There is a fierce political debate in the US about whether Washington should start to rein in public spending, or embark on a fresh stimulus package to prevent the economic upturn from fading away.Share prices on Wall Street jumped during Bernanke’s testimony, with the Dow Jones rising by 100 points, after he repeated the Fed’s promise that interest rates would remain low for an “extended period,” to support the “nascent” recovery.The US economy expanded at an annual rate of 4% in the second half of last year, but Bernanke stressed that “a significant proportion” of that bounce resulted from firms re-stocking, and “a sustained recovery will depend on continued growth in private-sector final demand for goods and services.”The Fed last week increased the discount rate banks must pay on their reserves by half a percentage point, as the first step in its own exit strategy from recession-busting monetary policies. But Bernanke insisted the change would have no impact on the mortgage rates paid by American homeowners.The chairman, who was recently confirmed in his job for a second term, also stressed that unemployment was likely to remain high for at least two years. “The job market remains quite weak, with the unemployment rate near 10% and job openings scarce,” he said. “Of particular concern, because of its long-term implications for workers’ skills and wages, is the increasing incidence of long-term unemployment; indeed, more than 40% of the unemployed have been out of work six months or more, nearly double the share of a year ago.” The Fed is forecasting that unemployment will remain as high as 6.5% to 7% by the end of 2012.Bernanke also threw his weight behind legislation that would force the Fed to reveal ” after a delay ” which firms had benefited from some of its emergency lending schemes.US economyBen BernankeFinancial crisisUnited StatesHeather Stewartguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds.

Bernanke: Record-low rates still needed
WASHINGTON — Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that record-low interest rates are still needed to ensure that the economic recovery will last and to help ease the sting of high unemployment. In his twice-a-year report to the House Financial Services Committee, Bernanke struck a confident tone that….

News Media

Dollar Strong Ahead Of Round Two For Bernanke – ForexTV.com
Cautious traders have bid up the safe haven dollar as Federal Reserve Chairman Ben Bernanke prepares to take to Capitol Hill for a second day of testimony …

PRECIOUS METALS:Comex Gold Falls; Bernanke Talk Seen As Neutral – Wall Street Journal
The metal pared slight losses following Fed Chairman Ben Bernanke's comments to the House Financial Services Committee that the US economy needs low …

Bernanke’s Comments Leave Interest Rates Mixed – New York Times
By AP WHAT KIND OF NEWS DID BERNANKE HAVE FOR BOND INVESTORS: The Fed chairman said rates would remain low. That's a good sign for bond prices, …

Nikkei falls 1 percent; strong yen pressures exporters – Reuters
"But despite what Bernanke said, they seem to be making slow preparations for a rate hike — last week's discount rate hike, for example. …

Copper gains on Bernanke, econ worries weigh – Reuters South Africa
SHANGHAI (Reuters) – Copper ticked higher on Thursday underpinned by US Federal Reserve Chairman Bernanke's pledge a day …

Euro Approaching Test of Key 61.8% Fib Retracement – Daily FX
While the central banker reaffirmed his outlook that rates would remain low for an extended period, market participants were more focused on Bernanke's …

Bernanke: Fed Looking Into Swaps With Greece – Wall Street Journal
WASHINGTON — Federal Reserve Chairman Ben Bernanke said Thursday the central bank would explore derivatives transactions …

Dollar’s Latest Fall Lifts Boost Commodity Prices – New York Times
By AP HOW DID BERNANKE CHEER THE MARKET: Bernanke's statement that rates would remain low is a ''sell'' sign for the dollar. And a lower dollar makes it …

NZ Dollar Down Late On Risk Aversion, Market Awaits Bernanke – Wall Street Journal
Currency markets are essentially treading water ahead of Bernanke's semiannual monetary policy report to Congress, Hindley said. "That is the key focus for …

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Bernanke: Low Rates Still Needed – WSJ.com
NewsBuzzer: Bernanke: Low Rates Still Needed – Bernanke said in congressional testimony that the U.S. economy.. http://tinyurl.com/yfsrdgh

European Stocks Seen Flat Ahead of Bernanke – WSJ.com
European Stocks Seen Flat http://on.wsj.com/99UKQB

FT.com / US / Economy & Fed – Bernanke faces grilling on exit strategy
Bernanke faces grilling on exit strategy: Ben Bernanke will face lawmakers for the first time on Wednesday since s… http://bit.ly/dc5gwS

Ben Bernanke Snaps At Ron Paul Over Wild Accusations (VIDEO)
#BenBernanke Snaps Back At #RonPaul Over Wild Accusations (VIDEO): http://bit.ly/a92cv1 #tcot #rnc #gop #p2 #dccc

FT.com / FT’s rolling global market overview – Monetary policy to the fore as Bernanke testifies
Monetary policy to the fore as Bernanke testifies http://bit.ly/ctyVjT

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Asia Stocks Rally Falters After Bernanke – ABC News
A tepid rally in Asian shares faltered early on Thursday and the dollar rose after Fed Chairman Ben Bernanke’s reaffirmation of an extended period of low U.S. rates boosted risk-seeking but also raised some concerns about global growth.

Bernanke Should Apologize to Ron Paul
Fed chairman Bernanke simply doesn’t know Fed history as well as Ron Paul (Or the history conveniently slipped his memory). As far as Watergate, I always thought it was pretty common knowledge that the money ended up in the burglars’ hands through some pretty fishy means.

Bernanke Vows To Keep Rates Low
Bernanke Vows To Keep Rates Low U. S….

Bernanke concerned about weak job market
Federal Reserve chairman Ben Bernanke told Congress on Wednesday that government action has helped start an economic recovery, but that he’s worried about the state of the job market.

Bernanke calls Ron Paul’s allegations ‘absolutely bizarre’
Bernanke said Rep. Ron Paul (R-TX) made “absolutely bizarre” allegations about the Fed’s involvement in Iraqi weapons deals & the Watergate scandal. Paul said the Fed issued a $5.5 billion loan to Saddam Hussein’s regime to buy U.S. weapons during the Iran-Iraq War. He also said that cash used in the Watergate scandal “came through” the Fed.

The Fed’s Grip Is Slipping – Ben Bernanke – Take A Hike!
Ben Bernanke’s back was to the wall, and he was being grilled by the Senate. His reconfirmation was anything but certain. Fewer senators backed Bernanke’s reconfirmation than that of any other Fed Chair before. EVER.

Bizarre Bernanke
Bernanke does the Congress and the public a disservice by disrespecting Congress with flippant, ignorant responses. Kudos to Chairman Frank for saying we need to followup on Dr. Paul’s issues.

Ron Paul smokes Ben Bernanke
Ron Paul questions Ben Bernanke about the transparency of the Federal Reserve.

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