The Web Tycoon’s blog

The perspectives of keeping his job in the Federal Reserve by Ben Bernanke have been put into doubt last Friday, when the Obama administration was trying to ensure its power in the Senate.

The people against Ben Bernanke, some afraid of his reelection and some disagree with what the Fed done with the financial crisis, moved against him, enlarging the list of negative votes already revealed.

Democrat senators Barbara Boxer (California) and Russ Feingold (Wisconsin) said that will be against the reelection of Ben Bernanke, that should be before the January 31st.

(more…)

Ben Bernanke, president of the Federal reserve, that received this week the price of best person of the year from the magazine time, and is facing his reelection in the senate, is keeping his monetary policy steady.

The FED left yesterday the intervals of the interest rate low, between 0% and 0.25%, this level has been remaining the same this last year. Furthermore, stated that will leave interest rates exceptionally low during a low period of time.

Ben Bernanke is showing more optimism about the economic situation, mainly about the labor market. The information received from the Federal Open Market committee (FOMC) since the meeting in November suggest that the economic activity is improving and the destruction in the labor market has ended, the unemployment rate surprisingly decreased in November from 10.2% to 10%.

(more…)

Ben Bernanke, has stated that the federal Reserve follows very closely the evolution of the dollar, after the considerable depreciation this currency suffered in the last weeks against other currencies. However, Bernanke, highlighted that the interest rates will continue low as the economy continues weak and the employment high. Ben Bernanke participated in a talk at the Economic Club of New York, where repeated the same speech about what will do the Federal reserve in the following months.

The president of the Federal Reserve, reiterated that although the economy has returned to the growth, ” the interest rates will continue low during a long period of time”.

(more…)