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By Joel Obermayer and Joel Obermayer,Sun Staff Writer The New York Times News Service contributed to this article | February 23, 1994
WASHINGTON -- Federal Reserve Chairman Alan Greenspan said yesterday that the economy is on track for long-term growth accompanied by subdued inflation, even though interest rates are more likely to rise than fall this year.Although his remarks were not surprising, they did appear to calm lawmakers who had voiced concern that the Fed might stall the recovery and Wall Street investors wary of resurgent inflation. The yield on a 30-year Treasury bond, a measure of investors' expectations for inflation, closed lower yesterday for the first time in seven trading sessions.
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BUSINESS
By Janet Hook and Don Lee and Janet Hook and Don Lee,Tribune Newspapers | January 29, 2010
The Senate, putting market stability ahead of populist anger at Wall Street, voted Thursday to give Federal Reserve Chairman Ben S. Bernanke a second four-year term as head of the nation's central bank. The 70-30 vote was a hard-won victory for President Barack Obama, who had waged an intensive lobbying campaign over the past week to sway rebellious senators who threatened to block the nomination of a Bush-era holdover whom they considered an emblem of failed economic policy. The vote was bipartisan, but it was still the smallest vote margin for a Fed chairman in the central bank's nearly century-long history, reflecting the intense public backlash in the wake of the worst economic crisis since the Depression.
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NEWS
February 28, 1997
WHEN ALAN GREENSPAN speaks, are people listening? The Federal Reserve Board chairman evidently thinks his December warning about "irrational exuberance" in the financial markets did not get the attention it deserved.The Dow Jones average, after a momentary plunge, kept climbing until it broke the 7000 mark with the new year. And so, Mr. Greenspan returned to the fray this week with a hint that the Fed may soon raise interest rates as a "pre-emptive" strike against inflation. In two days, the Dow fell more than 100 points.
BUSINESS
By Cox News Service | January 11, 2008
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke, worried about growing unemployment and financial jitters, said yesterday that the economy may need a boost from "substantive" cuts in interest rates. That left investors speculating on whether "substantive," defined by Webster's as meaning "of considerable amount," suggests the Fed will lower short-term interest rates by a quarter of a percentage point, or by a half. Initially, stock prices rocketed up on hopes for a big rate cut at the Fed's next meeting Jan. 29-30.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | October 29, 1991
NEW YORK -- Federal Reserve Chairman Alan Greenspan provided yesterday an unusually harsh description of business conditions, calling growth "stillborn" and credit conditions "utterly unprecedented.""The economy is moving forward, but in the face of 50 mile-an-hour head winds," Mr. Greenspan added, abandoning the optimistic tone adopted in July when he asserted the recession ended.Robert Brusca, an economist at Nikko Securities in New York, characterized the Fed Chairman's choice of words as "amazing.
BUSINESS
By BLOOMBERG NEWS | October 15, 1997
WASHINGTON -- Southeast Asian governments are primarily to blame for the recent currency troubles in that region, and any attempt by these nations to place controls on the cross-border flow of investment will have "adverse, unintended consequences," Federal Reserve Chairman Alan Greenspan said yesterday.Thailand was forced to devalue its currency, the baht, after it came under speculative attack in early July.The baht has lost more than half its value since its June peak against the U.S. dollar, and the contagion spread to Indonesia, Malaysia and the Philippines.
NEWS
February 22, 1996
PRESIDENT CLINTON owes more to Alan Greenspan than to any other Republican, inside or outside the Washington Beltway. Thus it is only right that he should appoint the Federal Reserve Board chairman to another term and only fair that the Republican-controlled Congress should let the president name at least one new board member responsive to traditional Democratic economic ideas.As Mr. Clinton braces for his re-election campaign, the U.S. economy is basically "on track" (in Mr. Greenspan's phrase)
BUSINESS
By Cox News Service | January 11, 2008
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke, worried about growing unemployment and financial jitters, said yesterday that the economy may need a boost from "substantive" cuts in interest rates. That left investors speculating on whether "substantive," defined by Webster's as meaning "of considerable amount," suggests the Fed will lower short-term interest rates by a quarter of a percentage point, or by a half. Initially, stock prices rocketed up on hopes for a big rate cut at the Fed's next meeting Jan. 29-30.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | March 12, 2004
Touching on an array of hot-button election issues, Federal Reserve Chairman Alan Greenspan predicted yesterday that employment will soon grow more quickly, warned that protectionist trade barriers are not a good answer to the outsourcing of American jobs and said taxes probably will have to be raised to help eliminate a projected shortfall in Social Security funding. Greenspan told members of a House committee that America's anxiety over the loss of manufacturing and white-collar jobs to low-wage countries is understandable, given the weak job growth the country has experienced since the 2001 recession, but blocking trade was not the answer.
NEWS
June 21, 1999
MUCH to the displeasure of some, the country's most influential economist told Congress last week to prepare for a small rise in interest rates in the near future. Federal Reserve Chairman Alan Greenspan is worried about inflation. Not now, but six months or a year from today. To avert rising prices, Mr. Greenspan indicated "early pre-emptive actions" by the Fed may be imminent. At the moment, the economy is continuing its unprecedented peacetime advance. Mr. Greenspan called it a "stellar, noninflationary economic expansion."
BUSINESS
By William Neikirk and William Neikirk,CHICAGO TRIBUNE | August 31, 2007
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke will seek to assure the world today that the central bank will keep the U.S. economy afloat during a severe credit crunch. The Fed chairman, who is scheduled to speak in Jackson Hole, Wyo., before the annual Federal Reserve conference, faces a challenging job steering the economy through rough waters at a critical point in the U.S. recovery amid doubts about his leadership as a crisis manager. A worried financial market is virtually demanding an interest-rate reduction Sept.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | May 30, 2007
Alan Greenspan foresees unpleasantness and is not afraid to say so. The recent increase in Chinese stocks is "clearly unsustainable," the former Federal Reserve chairman warned last week. The United States isn't doing so great, either. "It is possible we can get a recession in the latter months of 2007," he said three months ago. Now he pipes up. Where were his courageous forecasts when we needed them - during the buildup of the 1999-2000 technology-stock bubble? And why is everybody listening now?
BUSINESS
By Marilyn Geewax and Marilyn Geewax,Cox News Service | January 19, 2007
WASHINGTON -- The United States faces a "vicious cycle" of rising federal deficits and interest rates unless Congress quickly figures out how to pay for promised Social Security and Medicare benefits, Federal Reserve Chairman Ben S. Bernanke warned Congress yesterday. "Unfortunately, economic growth alone is unlikely to solve the nation's impending fiscal problems," Bernanke told the Senate Budget Committee in his first Capitol Hill appearance since Democrats took control of the Capitol this month.
NEWS
October 29, 2006
The former Fed chairman, in one of his first public appearances since leaving office, also questioned the effectiveness of homeland security efforts and said it would be easy to solve the Social Security funding problem. ?Manufacturing is something we were terrific at 50 years ago. It is essentially a 19th- and 20th-century technology.? Alan M. Greenspan
BUSINESS
By BLOOMBERG NEWS | May 24, 2006
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke declined yesterday to show his hand on how the central bank will respond to investors' concerns that inflation is accelerating. In response to a question during a Senate hearing on financial literacy, Bernanke said officials are watching how the economy develops between now and the end of June, echoing a statement accompanying an interest-rate increase May 10. He also apologized for discussing policy with CNBC anchor Maria Bartiromo at a Washington dinner last month.
BUSINESS
By BLOOMBERG NEWS | May 4, 2006
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke is getting a crash course in what it means to be the head of the world's most powerful central bank. Financial markets were blindsided Monday after CNBC anchor Maria Bartiromo reported that Bernanke told her that investors were wrong in thinking he's done raising interest rates. Stocks surrendered gains, bonds fell and the dollar jumped in response to the remarks, which Bartiromo said were part of a conversation at the White House Correspondents Association dinner in Washington on Saturday.
NEWS
July 28, 1999
AT THE RATE they are going, Republicans in Congress soon won't have any allies left. For some reason, they continue to push ahead in their foolish quest for an $800 billion tax cut.Polls show folks much prefer spending the federal surplus on shoring up Social Security and Medicare, paying down the nation's debt and investing in education, the environment, health care and defense. Tax cuts are near the bottom of their list.President Clinton promises a veto of the Republican plan for much the same reason.
BUSINESS
By William Neikirk and William Neikirk,CHICAGO TRIBUNE | August 30, 2003
JACKSON HOLE, Wyo. - Federal Reserve Chairman Alan Greenspan made it clear yesterday that human judgment should reign in the central bank's interest-rate decisions if it is to act swiftly against potential economic risks. In a speech at a Fed conference here, Greenspan argued against proposals that would force the Fed to use a hard-and-fast rule, such as changes in a specific inflation rate, to decide when and how much to change interest rates. Greenspan said the Fed has deliberately shied away from a specific rule to set interest rates because one couldn't adequately respond to economic uncertainties.
BUSINESS
By BLOOMBERG NEWS | May 2, 2006
NEW YORK -- Federal Reserve Chairman Ben S. Bernanke said the Fed is not necessarily done raising interest rates, as investors and the media interpreted his congressional testimony last week, CNBC reported yesterday. Bernanke said economic data will determine the Fed's rate moves, CNBC anchor Maria Bartiromo said, referring to a discussion she had with Bernanke at the White House Correspondents' Association dinner in Washington Saturday. "I asked him whether the markets got it right after his congressional testimony and he said, flatly, no," Bartiromo said.
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