TIMOTHY GEITHNER

Federal Reserve Chairman Ben Bernanke on Thursday defended his record at the helm of the U.S. central bank before a skeptical Senate that is considering stripping the institution of its regulatory powers.

Treasury Secretary Timothy Geithner on Thursday said the Federal Reserve must play a central supervisory function in ensuring the stability of the U.S. financial system.

Federal Reserve Chairman Ben Bernanke, making a case for a second term on Thursday, offered a forceful defense of the U.S. central bank's crisis-battling efforts, which he said prevented an even greater calamity.

Treasury Secretary Timothy Geithner on Thursday said it was vital to get U.S. budget deficits down in order to spur private-sector growth that creates jobs and predicted it will begin happening in 2011.

New applications for U.S. jobless benefits unexpectedly fell last week to the lowest level in more than 14 months, suggesting a labor market edging toward stability, while productivity was less robust in the third quarter.

Federal Reserve Chairman Ben Bernanke on Thursday will push back at efforts to curb the Fed's power as he goes before lawmakers considering his nomination to a second term at the central bank's helm.

U.S. Treasury Secretary Timothy Geithner said on Wednesday there was a good case to let some firms use derivatives with little scrutiny for business purposes, but that most trading should face stiffer rules.

U.S. Treasury Secretary Timothy Geithner urged lawmakers on Wednesday to let regulators block companies from customizing derivatives contracts to avoid trading on central clearing houses.

U.S. Treasury Secretary Timothy Geithner urged lawmakers on Wednesday to let regulators block companies from customizing derivatives contracts to avoid trading on central clearing houses.

President Barack Obama is paying a price for a recession that began before he took office, and fellow Democrats have started to balk at his legislative agenda and demand greater efforts to create jobs.

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

Progress toward tighter U.S. financial regulation faltered in the U.S. Congress on Thursday as a House committee postponed a pivotal vote and Republicans on a Senate committee aired stubborn opposition.

U.S. Treasury Secretary Timothy Geithner on Thursday defended the costly bailout of insurer AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.

Any tax imposed on financial transactions would have to take effect internationally to prevent Wall Street jobs and related business moving overseas, U.S. House Speaker Nancy Pelosi said on Thursday.

U.S. Treasury Secretary Timothy Geithner said on Thursday that no financial firm should be able to escape regulation, and the largest institutions need oversight from a single, strong regulator.

U.S. Treasury Secretary Timothy Geithner said on Thursday that without sweeping financial regulatory reforms, economic recovery would not be enough to ensure U.S. strength and stability.

U.S. Treasury Secretary Timothy Geithner on Wednesday called on banks to get back to the business of lending and said a tough credit environment for small businesses will slow economic recovery.

Potential weakness for economy; Thain seeks new start; Financial reform taking shape

U.S. industrial output barely rose last month and wholesale inflation was tame, suggesting the economy's recovery from a severe recession was losing some steam as government stimulus faded.

President Barack Obama will issue an executive order on Tuesday creating an administration-wide task force to crack down on financial fraud following a rise in mortgage scams and high-profile Wall Street trading scandals, an administration official said.

U.S. President Barack Obama on Tuesday nudged Chinese President Hu Jintao to allow the yuan currency to appreciate at a landmark summit in Beijing.