Ben Bernanke

Washington -- 17 June 2008 -- The nation's chief economist says the cost of health care will claim an increasingly larger share of consumer and government spending, unless something is done to curb it. Speaking at a Health Reform Summit in Washington on Monday, Federal Reserve Chairman Ben Bernanke said improving the nation's health care system is one of the biggest economic challenges facing the United States.

New medical technologies and treatments are allowing Americans to live healthier and more productive lives. But improving quality of life is becoming more expensive. Federal Reserve Chief Ben Bernanke told a meeting of health and government officials that without reforms, the cost of health care could spiral out of control.    » read more »

(As Prepared for Delivery)

April 2, 2008 -- Thank you, Mr. Chairman, for holding this important and timely hearing. In recent weeks, we’ve seen a widespread breakdown in the financial markets. A massive housing bubble is collapsing. One of our nation’s largest investment banks nearly collapsed, and the Federal Reserve has put hundreds of billions of dollars on the line to preserve economic stability.

The crisis has had far-reaching effects on the rest of the economy as well, taking its toll on the job market and shaking the credit

market. 7.4 million Americans are now unemployed, and two million families are at risk of foreclosure.    » read more »

02 April 2008 -- The head of the U.S. central bank, Ben Bernanke, told a congressional committee the U.S. economy could face a mild recession, but it should recover later this year. VOA's Barry Wood reports.

Federal Reserve Chairman Ben Bernanke said the economy is going through a very difficult period. While conceding that a recession is possible, he said it is too early to say the economy is in recession, usually defined as six months of negative growth.

Federal Reserve Chairman Ben S. Bernanke: Photo by trackrecord (CC)    » read more »

April 2, 2008 -- Federal Reserve Board Chairman Ben S. Bernanke: Chairman Schumer, Vice Chairman Maloney, Representative Saxton, and other members of the Committee, I am pleased to appear before the Joint Economic Committee. In response to deterioration in the near-term outlook for the economy and intensified strains in financial markets, in recent months the Federal Reserve has eased monetary policy substantially further and taken strong actions to increase market liquidity.

Federal Reserve Chairman Ben S. Bernanke: Photo by trackrecord (CC)    » read more »

14 March 2008 -- The Chairman of the U.S. central bank says his agency will do everything it can to help American homeowners who have been hurt in the mortgage lending crisis.

Chairman Ben Bernanke says the Federal Reserve is doing whatever possible to give homeowners relief from a record number of home foreclosures, which have been causing further damage to an already-weak U.S. housing market.

"The Federal Reserve is strongly committed to fully employing our authority, expertise and resources to help alleviate this distress," he said.    » read more »

January 22, 2008 -- Washington, D.C. — Speaker Nancy Pelosi issued the following statement today after the Federal Reserve Board issued an emergency rate cut of a key interest rate by 3/4 of a percentage point:

“Today’s emergency rate cut by the Federal Reserve Board indicates a commitment across all levels of government to revitalize the economy, restore confidence in the markets, and help Americans struggling with soaring bills for gasoline, groceries, housing and home heating.    » read more »

10 January 2008 -- The head of the U.S. central bank, Ben Bernanke, said Thursday that the Federal Reserve will cut interest rates if the economy weakens further.

Ben Bernanke addresses a housing and economic forum in Washington, 10 Jan 2008
Bernanke said the housing market is continuing to weaken as problems persist with mortgage lending. Speaking to a business audience in Washington, Bernanke signaled further cuts in short-term interest rates.    » read more »