Ben Bernanke

Ben Bernanke to join PIMCO as Senior Adviser

Ben Bernanke to join PIMCO as Senior Adviser

Global investment management firm PIMCO has hired former Federal Reserve chairman Ben Bernanke as senior adviser. According to reports, the decision has been taken by the company to boost its star power after the exit of co-founder Bill Gross.

Some competitors have questioned the move by the bond giant. Those competitors had also criticized the Fed when they found the former Federal Reserve chairman too close to PIMCO. According to the critics, Bernanke's closeness with PIMCO gives an advantage to the company in interpreting monetary policy.

Bernanke to Become Senior Adviser to Hedge Fund Citadel Investment Group

Bernanke to Become Senior Adviser to Hedge Fund Citadel Investment Group

Ben Bernanke, former chairman of the US Federal Reserve will soon join hedge fund Citadel Investment Group. According to the New York Times, Bernanke will take up the role of senior adviser.

Bernanke is going to offer his analysis of global economic and financial issues to Citadel's investment committees. Bernanke told the New York Times that he was sensitive to the public's concerns about the "revolving door between Wall Street and Washington and chose to go to Citadel, in part, because it is not regulated by the Federal Reserve and He won't be doing lobbying of any sort."

Bernanke says he is not responsible for low interest rates

Bernanke says he is not responsible for low interest rates

The ex-chair of the Federal Reserve Ben Bernanke wants to convince people that he is not liable for low interest rates. On Monday, Bernanke shared his views in a blog post to tell how inflation and the economy are the reasons behind lower rates and he is not the one to be blamed.

Bernanke told senior citizens that he didn't create problem for them. He wrote, "When I was chairman, more than one legislator accused me and my colleagues of 'throwing seniors under the bus' (to use the words of one senator) by keeping interest rates low. I was concerned about those seniors as well".

BHP results, Federal Reserve comments improves miners sentiment

BHP results, Federal Reserve comments improves miners sentimentA strong result posted by mining giant BHP Billiton as well as assurances from the US Federal Reserve that the stimulus will only be withdrawn if the economy is strong enough to sustain growth, boosted confidence in the mining sector in the country.

World currencies report gains against U.S. dollar

World currencies report gains against U.S. dollarThe U. S. dollar took a plunge against other currencies of the world on Thursday after Federal Reserve Chairman Ben Bernanke hinted that the central bank's stimulus program would continue for the foreseeable future.

Speaking at a conference in Boston, Mr. Bernanke said that "highly accommodative monetary policy for the foreseeable future is what's needed for the U. S. economy."

Asian markets rise after Bernanke’s remarks on monitor policy

Asian markets rise after Bernanke’s remarks on monitor policyAsian stock markets have risen on Thursday following comments by Federal Reserve Chairman Ben Bernanke that highly accommodative monetary policy will be needed to boost the economy in the near future.

Gold futures bounces back but records biggest quarterly fall

Gold futures bounces back but records biggest quarterly fallAccording to the latest data, Gold futures have bounced back from its fall to its lowest level in three years yesterday but has recorded its largest quarterly fall ever.

At the Comex division of the New York Mercantile Exchange, the gold for August delivery increased $12.10 or 1 per cent to settle at $1,223.70 a troy ounce. Gold futures had fallen to as low as $1,179.40 an ounce, which is its lowest intraday price since August 2010. Gold futures rose slightly as investors expecting lower prices closed those bets on Friday.

Bernanke to meet colleagues to discuss stimulus amid opposition

Bernanke to meet colleagues to discuss stimulus amid opposition The Federal Reserve Chairman Ben Bernanke is set to meet his federal colleagues to discuss the continuing stimulus plans of the US administration that helped the country stay afloat during the previous four years of financial crisis.

US banks emerge stronger from crisis: Bernanke

Ben-BernankeWashington, April 9 : The US banking sector has grown much stronger since the financial crisis, which has contributed to the improvement of the overall economy, said Federal Reserve Chairman Ben Bernanke.

"Today the economy is significantly stronger than it was four years ago, although conditions are clearly still far from where we would all like them to be," he said Monday when addressing a financial markets conference sponsored by the Federal Reserve Bank of Atlanta.

Australian and New Zealand dollars fall amid US fiscal cliff uncertainty

Australian and New Zealand dollars fall amid US fiscal cliff uncertaintyThe Australian national currency was trading lower amid continued uncertainty over the US fiscal cliff situation. The Australian and New Zealand dollars were trading lower against most major currencies sine previous week as the uncertainty continued in the US over budget talks.

Federal Reserve chief warns over threat to economic recovery

Federal Reserve chief warns over threat to economic recoveryBen Bernanke, the chief of US Federal Reserve has warned the country's politicians, who are deliberating over the issue of fiscal cliff, over the risks posed to the fragile economic recovery in the US economy.

Bernanke said that the politicians could bring about a very good 2013 or face risks of a disaster. The U. S. central bank chief said on Tuesday that the uncertainty over the issue of fiscal cliff is putting pressure eon the economic growth as investors are hindered by prospects of $600-billion in tax increases and spending cuts.

India’s clout in G20 context is increasing: Bernanke

India’s clout in G20 context is increasing: BernankeIndia is clearly gaining importance on the world stage in G20 context, U. S. Federal Reserve Chairman Ben Bernanke said.

Bernanke, who along with U. S. treasury secretary Timothy Geithner, held meetings with business leaders and the top management of Reserve Bank of India (RBI).

Speaking to business leaders, Bernanke said, "India is clearly becoming a more and more important player on the world stage in G20 context, in terms of its role in the global economy."

Third Indo-U.S. Economic & Financial Partnership meeting to take place on Tuesday

Third Indo-U.S. Economic & Financial Partnership meeting to take place on TuesdayA delegation of high-profile U. S. officials led by Treasury Secretary Timothy Geithner is coming to India to take part in third Indo-U. S. Economic & Financial Partnership meeting on Tuesday.

The two-day meeting is expected to set an agenda for economic partnership between the two countries over the next few years.

New Zealand dollar rises to its highest level in six months

New Zealand dollar rises to its highest level in six monthsThe New Zealand dollar has risen to its highest level in six months against the US dollar in local trading following a decision by the Federal Reserve to print more money.

The decision by Federal Reserve resulted in a rally in the global equity markets while it added to the pressure on the US dollar. The New Zealand dollar rose to the level of 83.45 US cents in the evening from 83 cents at in the morning.

Gold and silver reach new heights

Gold and silverPrecious metals gold and silver reached new heights on Tuesday as investors continued piling into these metals with an aim to hedge against potential inflation risks.

Spot gold jumped to $1,696.91 an ounce, the highest level the yellow metal hit since mid-March. Though, it then eased slightly to $1,695.46 per ounce.

The U. S. gold jumped 0.6 per cent to $1,698.20 per ounce. Asia's physical market witnessed some scrap selling of the yellow metal as prices reached a level of $1,700 per ounce.

Crude oil prices slip in Asia

Crude oil prices slip in AsiaPrices of crude oil in Asia slipped on Monday as US Federal Reserve boss Ben Bernanke’s recent speech at a central bankers' summit in Jackson Hole, Wyoming, disappointed traders.

Speaking at the Jackson Hole summit, on Friday, Bernanke admitted that the economic situation of the United States was far from satisfactory and said that the central bank would provide additional policy accommodation as required, but he declined to make any confirmation about further quantitative easing.

Bernanke stops short of providing clear signal about further monetary easing

Bernanke stops short of providing clear signal about further monetary easingU. S. Federal Reserve Chairman Ben Bernanke on Friday expressed a grave concern over the stagnation in the labour market, but didn't provide a clear signal about whether the central bank would launch a fresh round of monetary easing.

Speaking at the Kansas City Fed's annual Jackson Hole conference, Bernanke said that the labour market was far from satisfactory, and assured the Fed was ready to take more action to help the struggling economy.

Euro, Asian shares steady as Jackson Hole drawing near

European-Central-BankThe Euro rose while Asian shares steadied on Wednesday in run up to U. S. Fed chairman Ben Bernanke's speech on Friday and a European Central Bank (ECB) policy meeting, which is scheduled for next week.

In the early Wednesday trading, the Euro traded at $1.2557 against the U. S. dollar. However, it was still lower than the seven-week high mark of $1.2590, which was hit last week.

Against the Australian dollar, the Euro reached an eight-week high of A$1.2123, as investors were optimistic that European leaders would take positive steps to control the prevalent debt crisis.

More monetary stimulus can’t spur U.S. Growth: Fed’s Lacker says

More monetary stimulus can’t spur U.S. Growth: Fed’s Lacker saysMore monetary stimulus can not reduce unemployment and boost U. S. economic growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said.

In an interview on the "Charlie Rose" show, Lacker said that he was a bit skeptic about more monetary stimulus will provide the U. S. economy with the much-needed growth at this time.

Speaking on the topic, he said, "My sense is that monetary policy isn't capable of having a material effect on growth, or employment, or unemployment at this point."

Euro falls over no stimulus commitment from US government

Euro falls over no stimulus commitment from US governmentThe Euro has fallen in the Asian trading on Friday against the dollar and yen after the investors expressed concerns over the comments made by US Federal Reserve Chairman Ben Bernanke in which he did not pledge any government support aimed at stimulating the economy.

Bernanke addressed the congressional committee on Thursday on the state of the economy. The weaker economic figures had sparked hopes that the Federal Reserve Chairman might announce some measures aimed at stimulating the economic growth in the US.

Syndicate content