Bernanke signals possible gradual Fed exit from crisis support
Fed Chair Ben S. Bernanke outlined a gradual path to reducing unprecedented stimulus, stressing that the economy still needs accommodative policy but that the Fed will tighten by raising short term rates and shrinking bank reserves at the appropriate time. He detailed tools including paying interest on reserves and expanding reverse repurchase agreements to drain liquidity while maintaining credit flow.
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Washington
Federal Reserve
Ben S. Bernanke
U.S
Bernanke
House Financial Services Committee
Fed
Congress
U S trade deficit widens to 40 2 billion in December
The Commerce Department reports a December trade gap of 40.2 billion dollars, up from 36.4 billion in November. Exports rose solidly but higher oil imports erased the gains, extending a long pattern of deficits since 1976 and affecting U S job growth prospects.
MENTIONED IN THIS ARTICLE
Washington
U.S
Barack Obama
Commerce Department
United States
Bipartisan jobs bill unlikely to raise employment much
A Senate plan would tax cut for firms hiring unemployed workers by exempting Social Security payroll taxes through year end. Analysts say demand, revenue, and overall demand must improve before hiring rises. Experts caution the measure may only marginally boost jobs despite political wins for Obama and Republicans.
MENTIONED IN THIS ARTICLE
Washington
Barack Obama
Obama
Bill Rys
National Federation of Independent Business
Rick Klahsen
RSM McGladrey
Klahsen
Senate
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