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Ben Bernanke

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  • Yellen: Greatly concerned by widening inequality Friday, 17 Oct 2014 | 8:31 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen sounded an alarm Friday about widening economic inequality in the United States, suggesting that America's longstanding identity as a land of opportunity was at stake. The growing gap between the rich and everyone else narrowed slightly during the Great Recession but has since accelerated, Yellen said in a...

  • Fed Reserve Chair tours Boston-area job center Thursday, 16 Oct 2014 | 2:19 AM ET

    CHELSEA, Mass.— Federal Reserve Chair Janet Yellen, who has been using her first year in the role to draw attention to employment issues, visited a local career center on Thursday to hear from residents about the challenges of finding jobs in today's labor market. The central bank's first female head is in Massachusetts to give the keynote address at the Federal...

  • Volatility will remain high as the U.S. moves to raise rates, and could pose difficulties for emerging markets, Mexico’s Finance Minister said.

  • Business Highlights Friday, 10 Oct 2014 | 6:14 PM ET

    Olive Garden seen through an unlimited pasta pass. NEW YORK— The " Never Ending Pasta Pass" card from Olive Garden not only promised weeks of unlimited pasta, but a look into why the chain is fighting to hold onto customers. It was a successful publicity stunt for Olive Garden's parent company, Darden Restaurants.

  • Bernanke says he was reluctant on AIG bailout Friday, 10 Oct 2014 | 3:13 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke etched a portrait Friday of his initial reluctance to have the central bank rescue American International Group Inc. in 2008. But he ultimately came to believe the $85 billion bailout loan to the company was needed to avert a shock to the financial system. "I did not make any personal judgments about the...

  • WASHINGTON, Oct 10- Of all the key government players involved in saving the U.S. economy from collapse back in the autumn of 2008, Edward Quince has hardly earned a mention. The Wall Street Journal, which earlier on Friday reported Bernanke's alias, said the Fed's general counsel testified that the former Fed chairman used the name during the financial crisis to...

  • Business Highlights Thursday, 9 Oct 2014 | 6:11 PM ET

    NEW YORK— The stock market had its worst day of the year Thursday, just 24 hours after recording its best. WASHINGTON— Though braced by a resurgent United States, the global economy is under threat from other regions— from Europe and Latin America to China and Japan— where growth is stalling and prospects remain dim. That's the bleak picture facing global finance...

  • Bernanke testifies in AIG trial     Thursday, 9 Oct 2014 | 4:20 PM ET

    CNBC's Mary Thompson reports former Fed chair Ben Bernanke appeared slightly combative and vaguely annoyed at questioning. John Levin, CEO of Levin Capital Strategies, provides insight.

  • Bernanke defends AIG bailout in court Thursday, 9 Oct 2014 | 3:09 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke testified in federal court Thursday that insurance giant American International Group Inc. had to be rescued by the government in 2008 to avert global catastrophe. Bernanke was one of the key decision makers on the bailout, which began with an $85 billion rescue loan from the New York Federal Reserve...

  • WASHINGTON, Oct 9- Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. government's bailout of American International Group in 2008, in a fourth day of testimony by former top government officials looking to convince a federal judge that the rescue of the insurance company was legal. Former AIG Chief Executive Hank...

  • CNBC's Mary Thompson reports former Treasury Secretary Timothy Geithner's testimony suggests AIG had no other options at the time of its government bailout.

  • Geithner defends terms of AIG bailout Wednesday, 8 Oct 2014 | 2:58 PM ET

    WASHINGTON— Former top regulator Timothy Geithner defended terms of the U.S. government's bailout of American International Group Inc., saying Wednesday that the insurance giant's exceptionally risky behavior had caused losses that called for strict treatment. In trial testimony, Geithner said he and his colleagues at the Fed and the Treasury Department...

  • Why markets fear a second 'taper tantrum'     Wednesday, 8 Oct 2014 | 2:45 PM ET

    CNBC.com's Jeff Cox explains a dire scenario that could keep Fed officials up at night: losing control of the interest rate structure.

  • This is the 'doomsday' bond market scenario Wednesday, 8 Oct 2014 | 11:56 AM ET

    The fear is that an exodus for the door along the same lines as the "taper tantrum" could crush the market.

  • Geithner grilled in court over AIG bailout Wednesday, 8 Oct 2014 | 12:02 AM ET

    WASHINGTON— Timothy Geithner, a key player in the U.S. government's 2008 bailout of American International Group Inc., is due back in court Wednesday in a trial of a lawsuit filed by the insurance giant's former CEO over the handling of the rescue. The $85 billion loan package for AIG, which was teetering toward bankruptcy in September 2008, gave the government...

  • Geithner affirms in court need for AIG bailout Tuesday, 7 Oct 2014 | 8:14 PM ET

    WASHINGTON— Timothy Geithner, a key player in the U.S. government's 2008 bailout of American International Group Inc., on Tuesday affirmed in court his belief that the insurer's rescue was needed to avert disaster for the financial system. The $85 billion loan package for AIG, which was teetering toward bankruptcy in September 2008, gave the government control...

  • AIG bailout trial: Geithner on the stand     Tuesday, 7 Oct 2014 | 10:34 AM ET

    CNBC's Mary Thompson reports former New York Fed president and Treasury Secretary Tim Geithner is on the stand answering questions about the AIG bailout.

  • DIARY - Top Economic Events to Oct 20 Monday, 6 Oct 2014 | 8:01 PM ET

    NEW YORK- World Business Forum in New York. Treasury Secretary Jack Lew talks about the global economy and the recent G20 finance ministers meeting in a discussion sponsored by the Peterson Institute- 1245 GMT. ALBUQUERQUE- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy before an economic forum hosted by the Federal...

  • WASHINGTON, Oct 6- Former Treasury Secretary Henry "Hank" Paulson told a packed courtroom on Monday that AIG shareholders were singled out for punishment as part of the U.S. government's attempt to contain the contagion of the 2008 financial crisis. "AIG, either fairly or unfairly,... became a symbol for all that is bad on Wall Street," Paulson said as he testified about...

  • WASHINGTON, Oct 6- Former Treasury Secretary Henry "Hank" Paulson told a packed courtroom on Monday that AIG shareholders were singled out for punishment as part of the U.S. government's attempt to contain the contagion of the 2008 financial crisis. "AIG, either fairly or unfairly,... became a symbol for all that is bad on Wall Street," Paulson said as he testified about...