Federal Reserve, Ben Bernanke | featured news

Bernanke detailed the Fed's strategy to tighten credit, indicating the rate paid to banks on excess reserves may for a time replace the fed funds rate as the main policy tool.

In a hard-won victory for President Obama, the Senate votes 70 to 30 to keep the head of the central bank for four more years. Senators put market stability ahead of populist anger at Wall Street.

The Senate, putting market stability ahead of populist anger at Wall Street, voted Thursday to give Federal Reserve Chairman Ben S.

U.S. lawmakers looked likely to grudgingly approve Ben Bernanke to a second term as Federal Reserve chairman this week after the White House stepped in to defend his crisis-fighting record and rally votes.

Federal Reserve Chairman Ben Bernanke said Friday a government program intended to spark lending to consumers and businesses is still necessary even with other emergency lending programs winding down as the economy recovers.

US President Barack Obama is to announce he is reappointing Ben Bernanke to a second term as chairman of the US central bank, the Federal Reserve.