Below are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Tuesday on the state of the U.S. economy to the Senate Budget Committee. Bernanke's prepared testimony was virtually identical to testimony on Thursday to the House Budget Committee.
Federal Reserve Chairman Ben Bernanke held his policy prescription cards close to his vest Tuesday morning, skirting around several questions from Senate Banking Committee members that seemed designed to pigeonhole the central bank chief into supporting ideologically-charged positions. At the same time, the top U.S. central banker was effusive in his defense of the Federal Reserve's expansionary monetary policy.
Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.
The Federal Reserve should start raising interest rates next year, a top Fed official said on Monday, arguing that many years of near-zero rates will do little to return economic output to pre-recession levels and risks causing disaster.
The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt U.S. firms, foreign banks, and international markets in one swoop.
The economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3 percent, indicating last quarter's growth carried into early 2012.
Asian shares and the euro fell on Friday as debt restructuring talks between Greece and its creditors dragged on, undermining sentiment, and investors sat tight ahead of U.S. jobs data that will offer more clues on the health of the world's top economy.
Asian shares and the euro fell Friday as caution set in ahead of key U.S. jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on and undermined sentiment.
A third round of large-scale asset purchases by the Federal Reserve is not needed and would compound the difficulties of tightening monetary policy when the time finally comes, a top Fed official said on Thursday.
Asian shares and major currencies were stuck in ranges Friday ahead of key U.S. jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on.
The U.S. Federal Reserve may have more latitude to pursue easy-money policies if inflation runs below its newly-set 2-percent target, though such a move does not guarantee more jobs, a top central bank official said on Thursday.
The Federal Reserve may have more latitude to pursue easy-money policies if inflation runs below its newly-set 2-percent target, though such a move does not guarantee more jobs, a top central bank official said on Thursday.
Federal Reserve Chairman Ben Bernanke on Thursday defended the U.S. central bank's policies against charges from Republican lawmakers they risked sparking inflation, saying the economy still needs plenty of support.
New claims for unemployment benefits in the United States fell more than expected last week, pointing to further healing in the nation's battered jobs market.
Europe's financial crisis still threatens the U.S. recovery, and the Federal Reserve will do everything it can to protect against damage to the economy, Fed Chairman Ben Bernanke said on Thursday.
Europe's financial crisis still threatens the U.S. recovery, and the Federal Reserve will do everything it can to protect against damage to the economy, Fed Chairman Ben Bernanke said on Thursday.
Stocks edged higher on Thursday after weekly jobless claims fell in the latest week, but gains were limited as investors were reluctant to make big bets ahead of Friday's payrolls report and a recent rally.
Stock index futures pointed to slight gains at the open on Thursday after jobless claims fell more than expected, boosting optimism about the upcoming January payrolls report.
New U.S. claims for unemployment benefits fell last week, a government report showed on Thursday, pointing to more healing in the nation's battered jobs market.
Stock index futures were little changed on Thursday as investors looked ahead to weekly jobless claims data, one last clue about the state of the labor market before Friday's key jobs report.
Stock index futures were little changed on Thursday as investors looked ahead to weekly jobless claims data, one last clue about the state of the labor market before Friday's key non-farm payrolls report.
A top Federal Reserve official sharply criticized the U.S. central bank's decision last week to telegraph ultra low interest rates for nearly three more years, saying on Wednesday the move undermined confidence and caused confusion.