BEN BERNANKE

Regulators must be significantly tougher on large and complex financial firms to limit wider risks, but such firms are needed to keep the global economy humming, U.S. Federal Reserve Chairman Ben Bernanke said on Saturday.

Republicans in the House of Representatives on Friday recommended the country's top two mortgage finance companies, the recipients of a massive government bailout during the height of the financial crisis, be phased out in four years in order to restore stability to the housing market.

The head of the House of Representatives' Oversight Committee said on Friday he had asked the Federal Reserve to provide all documents relating to a rule waiver that allowed then-New York Fed Board Chairman Stephen Friedman to hold and purchase stock in Goldman Sachs Gorup .

Most investors confuse money and currency, but they are not the same thing. Money is defined as a medium of exchange, a unit of account and a store of value.

Four top Federal Reserve officials urged Congress on Thursday not to strip the U.S. central bank of the authority to supervise small banks, saying they would lose an important finger on the pulse of the economy that helps them guide monetary policy.

Kansas City Federal Reserve Bank President Thomas Hoenig said on Thursday that stripping the central bank of its oversight of smaller banks was inconceivable and would hurt monetary policy.

Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.

Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.

Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.

Stocks climbed on Wednesday, pushing the Dow to a recovery high, after a benign February inflation reading buttressed the Fed's renewed vow of low interest rates.

Stocks rose on Wednesday, with the Dow hitting a recovery high, as the Fed's renewed promise of low interest rates was underscored by a benign inflation reading.

U.S. stocks rose on Wednesday as a renewed promise of extended low interest rates from the Federal Reserve and its relatively positive view of the U.S. economy enticed investors into risky assets.

Wall Street rose in early trading on Wednesday as a renewed promise of extended low interest rates from the Federal Reserve and its relatively positive view of the economy enticed investors into risky assets.

Federal Reserve Chairman Ben Bernanke on Wednesday defended the central bank's supervision of smaller banks, which it would lose in regulatory reform proposals, in a hearing before a congressional panel.

The U.S. stock market held on to gains in the afternoon session as the Federal Reserve pledged to keep the federal funds rate low for an extended period, calming fears the Fed Reserve would take a more hawkish stance.

The Federal Reserve is expected to hold interest rates near zero on Tuesday and renew its pledge to keep rates very low for a long time, but it could note a brightening economic picture and hint at being closer to dropping the vow.

The Federal Reserve would win sweeping new powers over nonbank financial firms and keep much of its authority over banks, under revised legislation to be unveiled on Monday by the chief architect of financial reform in the Senate.

French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.

San Francisco Federal Reserve Bank President Janet Yellen, a monetary policy dove, tops President Barack Obama's list to be No. 2 at U.S. central bank, the White House said on Friday.

Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found.