Former Federal Reserve Chairman Ben Bernanke etched a portrait Friday of his initial reluctance to have the central bank rescue American International Group Inc. in 2008. But he ultimately came to believe the $85 billion bailout loan to the company was needed to avert a shock to the financial system.
Federal regulators are set to require big banks to keep enough high-quality assets on hand to survive during a severe downturn, the latest move under the congressional mandate to lessen the likelihood of another financial meltdown.
Former congressman and libertarian leader Ron Paul is calling for the abolishment of the CIA, citing “horrific torture practices” and interrogation policies that have been continuously denied by the government while creating “unprecedented” international resentment toward the U.S.
A federal appeals court has handed a defeat to a coalition of retail groups that challenged as too high the Federal Reserve’s cap on how much banks can charge businesses for handling debit card transactions.
Ben Bernanke, who stepped down last month after eight years as chairman of the Federal Reserve, is planning a memoir.
Janet Yellen has been sworn in to succeed Ben Bernanke, becoming the first woman to lead the Federal Reserve in its 100-year history.
Federal Reserve Chairman Ben Bernanke said Friday that factors which have kept the economy from accelerating appear to be abating, and he predicted stronger growth in 2014.
Americans’ wealth reached an all-time this summer, buoyed by record-setting stock prices and a healthy recovery in home values.
Fresh from shackling the traditional blocking ability of the Senate’s minority party, Democrats are ready to muscle through President Barack Obama’s nominees for pivotal judgeships and other top jobs.
A Senate panel has advanced Janet Yellen’s nomination to lead the Federal Reserve, setting up a final vote in the full Senate.