Banks, Ben Bernanke | featured news

Federal Reserve Chairman Ben Bernanke has told close friends he probably will not stand for a third term at the central bank even if President Barack Obama wins the November 6 election, the New York Times reported.

Ben S. Bernanke argued that information gleaned from the banking oversight process helps the central bank guide the economy.

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.

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.

The head of the US Federal Reserve says it acted with "integrity" in Bank of America's takeover of Merrill Lynch.

Federal Reserve Chairman Ben Bernanke and then-Treasury Department chief Henry Paulson pressured Bank of America Corp. to not discuss its increasingly troubled plan to buy Merrill Lynch & Co. -- a deal that later triggered a government bailout of BofA -- according to testimony by Kenneth Lewis, the bank's chief executive.

Bernanke accuses company of exploiting gaps in the system, says government 'had no choice' on bailout.