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Posts Tagged ‘Bernanke’

Tax-cut plan eases pressure on Bernanke and Fed
WASHINGTON — The Federal Reserve last month absorbed a wave of criticism for announcing it will buy $600 billion in Treasury bonds to try to revitalize the economy. It won’t help, critics said.

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Bernanke Hits Back at Critics of Bond Plan
Federal Reserve Chairman Ben Bernanke is seeking to defuse criticism of the Fed’s $600 billion bond-purchase plan by arguing that it’s needed to boost the economy and reduce unemployment. But he warns the Fed’s program can’t succeed on its own.

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Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30-3:30 pm EDT. During this session, Chairman Bernanke answered teachers’ questions about the Federal Reserve and the economy.

Remarks delivered on “Restoring the Flow of Credit to Small Businesses” on July 12, 2010 at the Federal Reserve Meeting Series: “Addressing the Financing Needs of Small Businesses,” Washington, DC

Is Bernanke Inflating The Biggest Bubble Ever?
Fed chief’s fixation on Great Depression raises hyper-inflation risk.

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Complete video at: fora.tv The Black Swan author Nassim Nicholas Taleb addresses the financial missteps of the Obama administration. “The problem we have in America is that nobody has addressed the fundamental error.” He emphasizes over-reliance on forecasts as the root of the problem. —– Nassim Taleb is the best-selling author of Fooled By Randomness and The Black Swan: The Impact of the Highly Improbable. So called ‘Black Swan Events’ are climactic, random and hard-to-predict events that have been entirely unexpected, and often hitherto perceived to be impossible. At this breakfast event chaired by Danny Finkelstein, Comment Editor of the Times, Nassim Taleb explains the relevance of his ideas to the economic crisis, and argue for measures to create a more Black Swan-robust society. David Cameron responds and takes part in a discussion with the audience. Nassim Nicholas Taleb is an essayist, belletrist, and researcher. Taleb is currently a researcher at London Business School. He the Deans Professor in the Sciences of Uncertainty University of Massachusetts at Amherst, Fellow in Mathematics in Finance, Adjunct Professor of Mathematics at the Courant Institute of Mathematical Sciences of New York University (since 1999), and research fellow, Wharton School Financial Institutions Center, and Chairman, Empirica LLC. Taleb held senior trading positions with trading houses in New York and London and operated as a floor trader before founding Empirica LLC. His degrees …

Bachmann: What provision in the Constitution could you point to, to give authority for the actions that have been taken by Treasury since March of 08? Geithner: Oh, uh, the Congress legislated in the emergency economic stabilization act a range of very important new authorities.. Bachmann: Sir, in the Constitution. What in the Constitution could you point to, to give authority to the treasury for the extraordinary actions that have been taken. Geithner: Every action that the treasury and the fed and the FDIC is….been using authority granted by this body…by the Congress. Bachmann: And in the Constitution, what could you point to? Geithner: Under the laws of the land, of course. Bachmann: And if I could move to the federal reserve chair, if you could point to what provision in the Constitution that would give authority to the federal reserve – this has been over 10 trillion dollars that we’re talking about. Bernanke: I don’t know where 10 trillion dollars comes from. The congress has the right to authorize funds, which is what they did in the TARP program, and they have given us in the 1930s…they gave the federal reserve the power for emergency lending as a means of addressing financial crises which is what we’ve done. Bachmann: And to the federal reserve chair – Do you believe there are any limits on the authority that the Federal Reserve has taken since last March…of 08? Bernanke: The loans we make have to be fully secured and collateralized. We have practical …

Bernanke Says Borrowing Difficult for Small Firms
Federal Reserve Chairman Ben S. Bernanke said small businesses are having a tough time getting loans they need to expand or stay afloat and keep the U.S. economic recovery going.

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This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or ‘central liquidity swaps’ in Federal Reserve-ese’). Which financial institutions received this money? Bernanke’s answer: I don’t know. As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke’s answer: yes.

Bernanke says spurring loans to creditworthy small businesses will support recovery
Getting loans flowing more normally to creditworthy small businesses will help the economic recovery, Federal Reserve Ben Bernanke said Thursday.

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