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but emil caship from the university of choep says bernanke identified the policies quickly and when bernanke changes the world changes too. >> the degree to which central bankers all across the world looked to him for sound advice and smart policy making is remarkable. >> reporter: for some bernanke did too little. for some he did too much. and his forecasting sometimes left something to be desired. >> the federal reserve is not currently forecasting a recession. we are forecasting slow growth. >> reporter: when the facts about weakness became clear in the economy, bernanke brought rates down quickly. first to 2% from 5.25%. and then to 0. even before the unemployment rate would spike to 10%. when bernanke ran out of interest rates to cut, he put academic theory to work and bought bonds to push down rates. and when buying bonds wasn't enough, he used another theory, forward guidance, trying to help the economy by convincing markets that the fed would keep interest rates low for a very long time. those who believed in bernanke were handsomely reward. stocks surged 135% from the crisis bottom.
but emil caship from the university of choep says bernanke identified the policies quickly and when bernanke changes the world changes too. >> the degree to which central bankers all across the world looked to him for sound advice and smart policy making is remarkable. >> reporter: for some bernanke did too little. for some he did too much. and his forecasting sometimes left something to be desired. >> the federal reserve is not currently forecasting a recession. we are...
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Feb 1, 2014
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the man at the center of that action, chairman ben bernanke, is ending his term today. newshour economics corespondent paul soloman looks at his legacy and the questions awaiting his successor. it's part of his reporting on making sense of financial news. >> reporter: in 2012, still a hero on the cover of the atlantic. but as that magazines cover also asked: why does everyone hate him? so hero? or zero? rather than trawl the darker corners of the internet, we thought we'd ask two professional economists, on the right and left, to grade bernanke's performance. >> i give him for his whole tenure an a-. >> reporter: economics professor alan blinder, a past vice chairman of the fed, hired ben bernanke at princeton, so of course he's biased. but in his post-crash bestseller, after the music stopped, even blinder takes bernanke to task for letting lehman brothers fail, freezing credit worldwide. that lowers the grade from a straight a or a+. >> the lehman episode just sticks in my craw, not to save lehman or put them to bed in a more gentle way, this is a joint mistake of ben
the man at the center of that action, chairman ben bernanke, is ending his term today. newshour economics corespondent paul soloman looks at his legacy and the questions awaiting his successor. it's part of his reporting on making sense of financial news. >> reporter: in 2012, still a hero on the cover of the atlantic. but as that magazines cover also asked: why does everyone hate him? so hero? or zero? rather than trawl the darker corners of the internet, we thought we'd ask two...
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Feb 2, 2014
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the fed keeps talking and bernanke in particular, about 6.15% unemployment rate. that is the target rate and then he's going to make a major move on interest rates. that's not the real unemployment rate. the real unemployment rate is roughly 15% with 24 million americans, as i mentioned before. >> that is a very good point. but i think they're going to be a little bit more elastic about that 6.5%, more flexible because they recognize that the job market is very, very, it's been a tepid recovery. >> brenda buttner, good to see you. catch her on bulls and bears every saturday morning 10 a.m. eastern time here on the fox news channel. a top g.o.p. leader calling for a major new focus for the party. we'll tell you who he is and what he thinks the g.o.p. should be concentrating on right now with the senate in jeopardy in november, the white house in 2016. >>> republican lawmakers are laying out an agenda of their own after last week's state of the union address. sources inside a retreat in maryland telling "the washington examiner" about house majority leader eric canto
the fed keeps talking and bernanke in particular, about 6.15% unemployment rate. that is the target rate and then he's going to make a major move on interest rates. that's not the real unemployment rate. the real unemployment rate is roughly 15% with 24 million americans, as i mentioned before. >> that is a very good point. but i think they're going to be a little bit more elastic about that 6.5%, more flexible because they recognize that the job market is very, very, it's been a tepid...
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Feb 11, 2014
02/14
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the significance open difference is this new name that she has, because alan greenspan and ben bernankeere the chairmen of the fed and she prefers to be known as the chair. >>> we should point out that the text came out before the market opened. the dow is up 96 points now. patricia sabga here now with more on the market reaction, and i was struck by your comments while we were talking. fed careman -- fed chairs do not like to make news during their testimony. >> ideally it is boring testimony, and not hugely market moving. and by that measure, she is doing very well. the fed wants to be steady. and sure enough when she came out, she really emphasized continuity with the bernanke fed, because markets don't like surprises. they want to be able to anticipate what is coming up. and she sent some pretty strong signals. she said the federal open market committee expects the economy to expand at a moderate pace this year. we have seen two consecutive months now of disappointing jobs growth, but that is not enough yet, not enough data yet. and she did signal as long as we continue to see moder
the significance open difference is this new name that she has, because alan greenspan and ben bernankeere the chairmen of the fed and she prefers to be known as the chair. >>> we should point out that the text came out before the market opened. the dow is up 96 points now. patricia sabga here now with more on the market reaction, and i was struck by your comments while we were talking. fed careman -- fed chairs do not like to make news during their testimony. >> ideally it is...
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Feb 1, 2014
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the new. today is ben bernanke's last day as federal reserve chairman. we're going to examine how the central bank goes into the future. it is the chinese new year, the year of the horse. i'm going to speak to the man who designed the u.s. postal stamp that celebrates the occasion. we will also talk about groundhog day, and go to the man who knows punxsutawney phil. all that and more coming up in an hour. let's go to headlines with loomer's su keenan. >> disney is said to be close to a program agreement with federal litigation over technology. disney could receive compensation for technology known as auto hop that lets dish -- skipers get commercials and broadcast shows that they recorded. finishing the day down four percent, blame it on barbie. mattel trailed estimates from analysts, while hot wheels declined eight percent. the company reported profits that missed analyst estimates for mastercard. >> i want to go to washington dc where there has been a lot of news today, and i want to bring in our white house correspondent phil mattingly. i want to start
the new. today is ben bernanke's last day as federal reserve chairman. we're going to examine how the central bank goes into the future. it is the chinese new year, the year of the horse. i'm going to speak to the man who designed the u.s. postal stamp that celebrates the occasion. we will also talk about groundhog day, and go to the man who knows punxsutawney phil. all that and more coming up in an hour. let's go to headlines with loomer's su keenan. >> disney is said to be close to a...
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the. right. first right. and i would think. on our reporters. in two thousand and two ben bernanke he was worried about deflation at that time he gave his most famous speech to date on how to prevent a japanese style deflation from hitting the us now bernanke he's views helped convince the central bank to keep the fed funds rate at a record low one percent in two thousand and three and two thousand and four before the fed had to raise them due to an overheated housing market now fast forward to today and we have a new fed chair janet yellen but the deflation question is being asked again now our next guest george celdran a professor of economics at the university of georgia and a leading scholar in the field of monetary and banking theory he came on the show earlier and i asked him whether he thinks like many mainstream economists that the place in is really a bad thing almost worse than inflation here's what he had to say. well that is exactly what most mainstream economists believe my view is that deflation can be a very bad thing and there have been occasions when it was but it'
the. right. first right. and i would think. on our reporters. in two thousand and two ben bernanke he was worried about deflation at that time he gave his most famous speech to date on how to prevent a japanese style deflation from hitting the us now bernanke he's views helped convince the central bank to keep the fed funds rate at a record low one percent in two thousand and three and two thousand and four before the fed had to raise them due to an overheated housing market now fast forward to...
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Feb 11, 2014
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she made it quite clear she will stay the doveish course set by her predecessor, ben bernanke. she specifically used the word continuity in stressing the fed will stay on the path of trimming its bond purchases, but she said the recovery is, quote, far from complete. investors took those comments, ran with them as a sign the fed believes the economy is on track for further growth. stocks advancing in a broad-based rallies that is lifting all ten s&p sectors. in the markets right now, dow jones industrials jumping 211 pointings. as i mentioned, the nasdaq, that is a big gain there, a full percentage point, and the s&p 500 now at 1821. i was thinking earlier, okay, we've held above 1815, suddenly we're above 1820, up a full 20 points or 1.19%. another reason for the optimism in the markets is renewed hopes that a debt ceiling deal could be in sight in washington after house speaker john boehner called for a vote this evening to extend the nation's borrowing limit through march of 2015, here's the cue, without conditions. the market loves all of this. it creates a perfect storm mor
she made it quite clear she will stay the doveish course set by her predecessor, ben bernanke. she specifically used the word continuity in stressing the fed will stay on the path of trimming its bond purchases, but she said the recovery is, quote, far from complete. investors took those comments, ran with them as a sign the fed believes the economy is on track for further growth. stocks advancing in a broad-based rallies that is lifting all ten s&p sectors. in the markets right now, dow...
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Feb 3, 2014
02/14
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and the mccau gambling was huge. >> bernanke is going to join brookings institution. t a complete surprise, he had given his final appearance there. david wessel, of "the journal" is there but officially going there and make rain and -- >> did we want bernanke to go to blackstone? no. >> no. i think i like more of the idea of him continuing to -- >> distinguished fellow. >> yes. >> geithner went p/e action. >> le did. geithner, not made the big money. >> wow. >> thus far. >> all about the benjamins even for the treasury. >> being a lot about that, right? geithner in public service, nor or less his career. >> russell wilson making what public service makes. he's going to get the contract. >> russell wilson, not making big money. >> no, but my son was telling me about that, right. >> really. >> could it be as little as 500,000. >> way to go. got it right. >> that's about to change dramatically. >> i think that is going to change. all right. let's move on to a saga we've been covering here. joseph a. banks, in talks to buy eddie bower, the latest in the struggle between j
and the mccau gambling was huge. >> bernanke is going to join brookings institution. t a complete surprise, he had given his final appearance there. david wessel, of "the journal" is there but officially going there and make rain and -- >> did we want bernanke to go to blackstone? no. >> no. i think i like more of the idea of him continuing to -- >> distinguished fellow. >> yes. >> geithner went p/e action. >> le did. geithner, not made the...
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we saw how well the greenspan put worked out for us, the bernanke put after it. bottom line, 15 years the stock market has been cut in half twice. i don't think that the put should be a reason for people to get so excited here back at all time highs with deteriorating internals. >> mike, do you want to reconcile this debate we're having, a glass half full versus half empty from some of our guys? >> we've been in this recovery mode. people think that we sort of corrected okay going back last couple of weeks. i agree with josh though that you're not really seeing the all clear signals out there. the small cap leadership is something you want to see right here. in terms of reaction to the testimony itself, i really do think the market and investors were okay with the idea of a gentle, well telegraphed tapering process coming into this year. that only gets you so far. if there's one thing i'm pulling out of yellen's testimony is she doesn't want to buy into a structural change in the labor market. unemployment is all about cyclical factors. i don't really think that g
we saw how well the greenspan put worked out for us, the bernanke put after it. bottom line, 15 years the stock market has been cut in half twice. i don't think that the put should be a reason for people to get so excited here back at all time highs with deteriorating internals. >> mike, do you want to reconcile this debate we're having, a glass half full versus half empty from some of our guys? >> we've been in this recovery mode. people think that we sort of corrected okay going...
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>> the fact is there is a taper so there is a reduction in the bond-buying program. but ben bernankeave guidance that they were going to continue the federal fund policy through 2015. that forward guidance is in place. the markets expect t and it would be very difficult to retreat on that promise now. >> so two more years of low interest rates. >> yes, if you're buying a house, if you're buying a car, that's good news. if you're a saver, and you don't want to take a risk in the stock market, that's i not good news. >> we're focus on janet yellen since she became chair. she is not the only person who decides interest rates. there is a vote. thernow it is possible that jant yellen is on the minority side in that emergence, this could not be all put on yellen, it couldn't be put on bernanke before. this is a collective. >> and are there hawks and doves in the policy making circle that are on the open market committee? >> yes, i think there are four seats that are changing in the last half year. you have one vacant--one seat about to be vacant, and three nominees that have to be confirme
>> the fact is there is a taper so there is a reduction in the bond-buying program. but ben bernankeave guidance that they were going to continue the federal fund policy through 2015. that forward guidance is in place. the markets expect t and it would be very difficult to retreat on that promise now. >> so two more years of low interest rates. >> yes, if you're buying a house, if you're buying a car, that's good news. if you're a saver, and you don't want to take a risk in...
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is she going to continue down the path that ben bernanke he set in late two thousand and thirteen with her tapering i think that that's a big issue and i think the equity markets are looking at that in great detail in addition we still talk about you know the job market i mean we had a report recently of just over one hundred thousand new jobs created as you know that as of the last month and i think that those numbers are not good enough numbers for us to go forward in the in the u.s. and i think that's going to be something that all institutional and individual investors take a look at as they position their portfolios for two thousand and fourteen now having said that i think the key word here is diversification i think that in order to whether the storm. and we see these huge swings in the equity markets the dow jones just dramatic swings downward in january so you have to be prepared and you have to be patient and think longer term but stay diversified in terms of your investments because if one industry or one set of stocks or mutual funds fall out of favor you have access and al
is she going to continue down the path that ben bernanke he set in late two thousand and thirteen with her tapering i think that that's a big issue and i think the equity markets are looking at that in great detail in addition we still talk about you know the job market i mean we had a report recently of just over one hundred thousand new jobs created as you know that as of the last month and i think that those numbers are not good enough numbers for us to go forward in the in the u.s. and i...
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so there is a reduction in the bond-buying program. but ben bernankee guidance that they are going to continue near zoro funds policy through 2014. and it would be very difficult for the fed to retreat on that promise now. >> so two more years of low interest rates. >> yes, if you are buying a house or car that's good news, if you are a saver it's not much good news. >> we are focused on janet yellen appropriately her first day before congress. she is not the only person that decides interest rates. there is a vote. now it is possible that janet yellen is on the minority side on some of those votes or was in the past. this can't all be put on yellen, and it couldn't be put on bernanke or before. this is a collective. >> and are there hawks and aboves in the federal policy making circle. >> yes, there are, and this fed is under transition, because i think it is four seats are changing. you have one seat about to be vacant and three nominees that have to be confirmed before the senate in the next month or so. so of the seven governors, for example, we're
so there is a reduction in the bond-buying program. but ben bernankee guidance that they are going to continue near zoro funds policy through 2014. and it would be very difficult for the fed to retreat on that promise now. >> so two more years of low interest rates. >> yes, if you are buying a house or car that's good news, if you are a saver it's not much good news. >> we are focused on janet yellen appropriately her first day before congress. she is not the only person that...
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Feb 10, 2014
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of whats real problems happened to the federal reserve under ben bernanke. i think is going to go after her pretty hard on what the fed mission is, the expansion of the balance sheet which she is opposed. i would imagine her to have a tough time. he wants to set the template for the fed hearings going forward. he wants to send a message that republicans are going to watch her like a hawk. the last two jobs report have not been very good. might there be some contingency saying why are you pulling back? why you are tapering? .aybe we need more of the same >> that will be coming from the democrats saying maybe we need more. chuck schumer said to ben bernanke in 2012 "get to work, mr. chairman." we are sure the democrats will weigh in and talk about the impact of sequestration and the fiscal policy impact on the economy will try to get her to say whether the republican policies are hurting. >> the elephant in the room is really in inflation or lack there of. it is only at 1.1%. yellen bey will janet talking about that tomorrow? will she be able to? >> i think so.
of whats real problems happened to the federal reserve under ben bernanke. i think is going to go after her pretty hard on what the fed mission is, the expansion of the balance sheet which she is opposed. i would imagine her to have a tough time. he wants to set the template for the fed hearings going forward. he wants to send a message that republicans are going to watch her like a hawk. the last two jobs report have not been very good. might there be some contingency saying why are you...
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Feb 26, 2014
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liz: let's talk about the ben bernanke deposition. what will he be asked? this is what i understand. there was questioning about the legality of these bailouts including a ig. he wanted to be bailed out the same way they bailed out the big banks. they didn't totally wipe out the shareholders but gave the money. liquidity, gave 100% but wiped out shareholders and diluted the shares. i would say white thing out the shareholders which was an unprecedented move. that is unconstitutional. i will give you the cliff notes version and we could argue fine points of law all day. ben bernanke's testimony will be given, paulson's testimony has % been given, the new york fed president became treasury secretary, hank paulson was treasury secretary in 2008 and now it is ben bernanke. when we get these documents will be fascinating reading even though it is after the fact of the financial crisis. liz: you watched my copy of the wolf of wall street. remember when eastern european woman was wrapping money around her body to do the swiss thing? that is in a way coming to pass
liz: let's talk about the ben bernanke deposition. what will he be asked? this is what i understand. there was questioning about the legality of these bailouts including a ig. he wanted to be bailed out the same way they bailed out the big banks. they didn't totally wipe out the shareholders but gave the money. liquidity, gave 100% but wiped out shareholders and diluted the shares. i would say white thing out the shareholders which was an unprecedented move. that is unconstitutional. i will...
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Feb 19, 2014
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the fed released its minutes from its late january meeting, the last under ben bernanke. then, deadly violence in ukraine raises fears of a civil war. insident obama arrives mexico to attend a north american summit. to our viewers in the united states and those of you joining us from around the world, welcome. full coverage of the stocks and headlines.ing julianna goldman new details on president obama's trip to mexico. we begin with peter cook, who has breaking news. the release of the latest fed minutes. good afternoon. >> good afternoon. these minutes, the last meeting under fed chairman ben bernanke, when the fed chairman continue to scale back its bond buying program another 10 lane dollars. another jobs report. the first testimony of janet yellen. they saw the economic outlook basically on track despite volatility in emerging markets. they made very few changes in their statement. the minutes say all members agree the cumulative improvement and the likelihood of continued improvement indicated it would be inappropriate -- appropriate at this meeting. at the table, i
the fed released its minutes from its late january meeting, the last under ben bernanke. then, deadly violence in ukraine raises fears of a civil war. insident obama arrives mexico to attend a north american summit. to our viewers in the united states and those of you joining us from around the world, welcome. full coverage of the stocks and headlines.ing julianna goldman new details on president obama's trip to mexico. we begin with peter cook, who has breaking news. the release of the latest...
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minutes of the 14 fed meetings that took place in 2008 have been released, and it seems that in the early days bernanke company really had no idea how bad things really were. the minutes show that the fed worried a lot about inflation and markets but not jobs. even know most americans gained their wealth through wages, not investments. the fed wasn't even sure that the decision to let the lehmann brothers fail was the right thing to do. as it happened that was a decision that turned a normal recession into a global credit crisis and the worst recession that the world would ever see. in fairness to bernanke. no one knew how bad it would get. most people didn't care that a bang was failing. and to his credit he soon became the only grown up in washington, lashing rates with his central bank counterparts around the world all while congress dalyed. hcame from the bottom of the class to the most prudent student in the class. better late than never, i suppose. that is our program for today. thanks for watching. >>> hi, i'm lisa fletcher and you are in "the stream." syrian americans are countering apathy with
minutes of the 14 fed meetings that took place in 2008 have been released, and it seems that in the early days bernanke company really had no idea how bad things really were. the minutes show that the fed worried a lot about inflation and markets but not jobs. even know most americans gained their wealth through wages, not investments. the fed wasn't even sure that the decision to let the lehmann brothers fail was the right thing to do. as it happened that was a decision that turned a normal...
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the big game. that is later on. and chairman bernanke's last day on the job.e will hear in his own words his words of wisdom as he heads out on his next venture. ♪ >> this is "lunch money," on bloomberg television, streaming live on bloomberg.com and your tablet and smartphone. i am adam johnson. moving pictures -- the video is the story. lawyers for amanda knox and her codefendant, raffaele solleccito will try to appeal the guilty verdict. an italian court upheld a guilty verdict. knox and her boyfriend served time in prison before it was appealed. she has been living in the u.s. since the first ruling was overturned. this is her family, she is appealing yesterday's verdict, which is not final. preparations underway in beijing for the lunar new year celebration. the first official day of the new year, the year of the horse, is today. celebrations will run into the 14th of february. authorities are urging people not to use fireworks, there is an issue with smog and pollution in chinese cities that has officials and meteorologists concerned. pilgrims gathered o
the big game. that is later on. and chairman bernanke's last day on the job.e will hear in his own words his words of wisdom as he heads out on his next venture. ♪ >> this is "lunch money," on bloomberg television, streaming live on bloomberg.com and your tablet and smartphone. i am adam johnson. moving pictures -- the video is the story. lawyers for amanda knox and her codefendant, raffaele solleccito will try to appeal the guilty verdict. an italian court upheld a guilty...
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they can to say things are fine this is a buying opportunity and by the way they pull the same scheme when bernanke he announced the blueprint for tapering back in june all of a sudden the market's a diving man and they rolled out one cat after another from the brilliant larry summers right up and down to the jamie legs dying right there at the sachs gang one after another now speaking of panic on the street just today u.s. secretary of state john kerry told u.s. senators that obama's softer syria policy is collapsing and that a tougher approach it may be needed are we being prepared for war as a means of distracting us from the downturn in the economy what do you think i've read about those three years when all else fails they take you to war you know i have the that the top trends of twenty thirteen year ago the top one was war. they do this all the time you have sociopaths and and psychopaths in charge i don't say that as a throwaway line they're going to get tougher with syria what what strategy they going to use of the iraq strategy brilliant oh how about the afghan strategy now that was a win
they can to say things are fine this is a buying opportunity and by the way they pull the same scheme when bernanke he announced the blueprint for tapering back in june all of a sudden the market's a diving man and they rolled out one cat after another from the brilliant larry summers right up and down to the jamie legs dying right there at the sachs gang one after another now speaking of panic on the street just today u.s. secretary of state john kerry told u.s. senators that obama's softer...
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bond buying program more commonly known as quantitative easing a drawdown started during the final months of bernanke these ten year that yellen will be responsible for most of her job will involve more than just fiscal policy however the same time as she manages the fed's draw down yellen will also have to convince the world's leaders that the global economy can survive without easy american money sounds dramatic but yet yellow yellow really does hold the future of global capitalism in our hands at least to summers so to some extent after all is only five years ago the global economy entered its worst downturn since the great depression things of no doubt improved since the day lehman brothers went under but the markets are still fragile and are arguably one currency devaluation or one debt crisis away from another crash so can yell and help guide the us through the stormy seas ahead is a time to radically rethink our economic course joining me now from our new york studios for more on this is richard wool professor of economics americas at the university of massachusetts amherst and author of numer
bond buying program more commonly known as quantitative easing a drawdown started during the final months of bernanke these ten year that yellen will be responsible for most of her job will involve more than just fiscal policy however the same time as she manages the fed's draw down yellen will also have to convince the world's leaders that the global economy can survive without easy american money sounds dramatic but yet yellow yellow really does hold the future of global capitalism in our...
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Feb 24, 2014
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after the collapse of lehman brothers, what's ben bernanke thinking? >> right after the collapse of lehman brothers is kind of his last moment of hopefulness that maybe they can escape this thing without a disaster. there's a meeting actually two days after that sunday, that fateful sunday night, when the government decided to let lehman brothers go. bernanke says in this meeting, maybe monetary policy, the level of interest rates, is in the right place. they had kept them at 2%. within a matter of days everything changes. they're in the process of bailing out aig. 36 hours later, ben bernanke and hank paulson go to congress and they say that the government has to step up and bail out the whole banking system. and within a matter of weeks he's moving to slash interest rates. so, you know, bernanke -- that september meeting was really a great example of him playing catch-up and not immediately recognizing the gravity of events that were in front of him. >> okay. how about tim geithner? he later goes on to be treasury secretary. what were his positions at
after the collapse of lehman brothers, what's ben bernanke thinking? >> right after the collapse of lehman brothers is kind of his last moment of hopefulness that maybe they can escape this thing without a disaster. there's a meeting actually two days after that sunday, that fateful sunday night, when the government decided to let lehman brothers go. bernanke says in this meeting, maybe monetary policy, the level of interest rates, is in the right place. they had kept them at 2%. within a...
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robert rice, the fed has the threshold of 6.5% unemployment, beyond which or below which they said at one time when bernanke was running it not so long ago that that would mean a hike in the target rate, the so-called fed funds rate. here at 6.6% in unemployment, 6.5% could come next month. do you think the fed will keep its credibility and raise the target rate or throw it out the window? >> i don't think they're going to throw it out the window entirely and explicitly. but i agree with john. i think the jobs report today quite bad and i think investors are responding positively because they think the fed is going to slow the tapering. in fact, the fed may stop tapering altogether, at least for the next several months until the job numbers look much better. >> no way, no way. joe lavorgna, set them straight. >> i agree with you, larry. >> that's the least -- they may break their forward guidance on the 6.5% unemployment rate. but they're going to continue to taper. joe, there were some good numbers in here. i'm not saying this was the greatest thing. but the household survey is very important. people overl
robert rice, the fed has the threshold of 6.5% unemployment, beyond which or below which they said at one time when bernanke was running it not so long ago that that would mean a hike in the target rate, the so-called fed funds rate. here at 6.6% in unemployment, 6.5% could come next month. do you think the fed will keep its credibility and raise the target rate or throw it out the window? >> i don't think they're going to throw it out the window entirely and explicitly. but i agree with...
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the recent pullback i think it has somewhat to do with the fact that there's a new person at the fed ben bernanke is not there anymore and it's really a psychological support the fake created this expectation that the stock market would keep rising no matter what and i think to the extent that that support is broken it's going to be very hard for janet yellen to see really install a floor under asset prices now in your film the fed it came across as a serial bubble blower that helps wall street at the expense of main street now this concept is infuriating to millions of people but the question is how can we as regular citizens do anything about it. i mean that's you know the strange thing about the fed is these aren't elected officials so it isn't as easy as going to the voting booth you know next fall and saying you know i want somebody new to run the fed you know the fed is a creature of congress and i think the way the average person can impact the fed is by letting their their congressperson know that they're not happy with the current policies and and one of the goals of the film is to bring
the recent pullback i think it has somewhat to do with the fact that there's a new person at the fed ben bernanke is not there anymore and it's really a psychological support the fake created this expectation that the stock market would keep rising no matter what and i think to the extent that that support is broken it's going to be very hard for janet yellen to see really install a floor under asset prices now in your film the fed it came across as a serial bubble blower that helps wall street...
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Feb 11, 2014
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>> wore the same of what we had with general bernanke. the 6.5% unemployment level as a real market threshold to change policy. that will be the big headline coming up today. we have done some research with word count and fed governors. we have seen a lot of that focus on labor, unemployment. it is not surprising that she will have an even bigger focus on that 6.5 number. adam: is the market or investors overreacting with what we are seeing? the dow up 133 points right now. >> they really did not know what they would say. quite frankly, what she has been trying to do is provide continuity. her testimony was very similar to fed chairman bernanke's final press conference in the respect that he was optimistic about the economy. he was also optimistic that inflation would eventually move back to its target. he also made it clear that the default mode on tapering was 10 billion per meeting. she is reinforcing that. both bernanke and yellen have been ambiguous, quite frankly. i think intentionally in terms of giving us a timeframe. they just wan
>> wore the same of what we had with general bernanke. the 6.5% unemployment level as a real market threshold to change policy. that will be the big headline coming up today. we have done some research with word count and fed governors. we have seen a lot of that focus on labor, unemployment. it is not surprising that she will have an even bigger focus on that 6.5 number. adam: is the market or investors overreacting with what we are seeing? the dow up 133 points right now. >> they...
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Feb 22, 2014
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. >> reporter: in early january 2008, as the housing crisis deepened, ben bernanke called an emergency meeting of the federal reserve. "the concern i have is not just a slowdown," the fed chairman said, "but the possibility that it might become a much nastier episode." less than two weeks later, the fed would slash interest rates by 75 basis points, the largest cut in more than two decades. "i think we really have no choice but to get ahead of this." bernanke argued. the transcripts of 14 meetings in 2008 show a fed trying to keep up with a developing cries it did not fully comprehend. by march 10, janet yellen, then the head of the san francisco fed, warned that "systemic risk is large, and it's escalating very quickly. a dangerous dynamic has set in." that month, the fed took the unprecedented step of offering funding to troubled banks. "we're crossing certain lines," bernanke noted. "we're doing things we haven't done before." by summer, the fed believed the worst was over that and that the economy had skirted an outright recession, but in september, lehman brothers collapsed. at a
. >> reporter: in early january 2008, as the housing crisis deepened, ben bernanke called an emergency meeting of the federal reserve. "the concern i have is not just a slowdown," the fed chairman said, "but the possibility that it might become a much nastier episode." less than two weeks later, the fed would slash interest rates by 75 basis points, the largest cut in more than two decades. "i think we really have no choice but to get ahead of this." bernanke...
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Feb 23, 2014
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the bid meeting bernanke said at the start " as you know, we're at a historic juncture for the economyederal rerve the crisis is severe despite extraordinary efforts not only by the fed but other policy makers around the of world. it is not a normal financial downturnn now janet yellen what does she think back then? at the september 16 policy meeting she was the president of the bank of san francisco and was present on her outlook but she said there was potential for more turmoil and downside risk but back home "plastic surgeons and dentists know that patients are deferring elective procedures ". she goes on to say reservations are no longer necessary and high-end restaurants and at the silicon valley country club th a $250,000 entry fee with an eight year waiting west new members struck at 13. gerri: pulling back the curtain at that pep talk -- that tough te. have a great weekend. for what you need this to know for the tax season and royalties for the america idol seniors but is it legal? next gerri: allegations of greed and corruption in rocking the innocent -- and music business ame
the bid meeting bernanke said at the start " as you know, we're at a historic juncture for the economyederal rerve the crisis is severe despite extraordinary efforts not only by the fed but other policy makers around the of world. it is not a normal financial downturnn now janet yellen what does she think back then? at the september 16 policy meeting she was the president of the bank of san francisco and was present on her outlook but she said there was potential for more turmoil and...
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Feb 18, 2014
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bernanke realized that and introduced quantitative easing which he did three times. that made all the difference. >> you like what bernanke did. that is great. i like what obama did. you are against the minimum wage. >> not a growth policy. >> against unemployment insurance. you are against roads and bridges, investment. >> i am going on roads and bridges on the way home. >> a lot of stuff -- >> i agree with the president when he said [ inaudible ] $1.2 trillion worth of disaster. i agree with regard of easing policy far more relevant. >> your party mostly opposed it. >> it was a mixed bag. >> like the cbo, 2.5 million jobs out of the stimulus package, 95% of americans. you are against tax cuts. >> here is my problem with your platform. once in a while i want you to do something about growth, about taking that small business entrepreneur and say we are going to reward you and create jobs. it is not about dependency and more entitlement and more taxpayer dollars and more transfers. >> my argument, is that is what the republicans say but never do it. when george bush was president he ga
bernanke realized that and introduced quantitative easing which he did three times. that made all the difference. >> you like what bernanke did. that is great. i like what obama did. you are against the minimum wage. >> not a growth policy. >> against unemployment insurance. you are against roads and bridges, investment. >> i am going on roads and bridges on the way home. >> a lot of stuff -- >> i agree with the president when he said [ inaudible ] $1.2...
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she inherited the bernanke guidance but is becoming irrelevant. ind some kind of new measure. that's not unemployment, what is it? >> i think it will be some reference specifically to the outlook on inflation. two percentargeting inflation but they are going to pay more attention to current inflation and for the last three years inflation has fallen below target. >> what do you think of her as a communicator? you think about ben bernanke and it was him president, the amount of communication he gave. press conferences that were quite lengthy, allowing reporters to ask questions. is she going to continue in that vein and is a good? think in so doing for press conferences year, she will do one after every meeting. she was in his communication subcommittee so the extra comedic patient and transparency we are getting from the fed she was very much behind. to this --oing back when everybody thought the taper was going to happen in august and we didn't get it. ithink you were here the day didn't come through. as an investor, you're trying to anticipate wh
she inherited the bernanke guidance but is becoming irrelevant. ind some kind of new measure. that's not unemployment, what is it? >> i think it will be some reference specifically to the outlook on inflation. two percentargeting inflation but they are going to pay more attention to current inflation and for the last three years inflation has fallen below target. >> what do you think of her as a communicator? you think about ben bernanke and it was him president, the amount of...
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Feb 21, 2014
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the crisis. fed chair ben bernanke became increasingly vocal in his calls for bold action. we've got bold action right here because "after the bell" starts right now. david: time from break down today's market action, rob stein, astor investment management ceo. he will tell us how he is weathering volatility in this wild market. we have michael muse sew saying that stocks are not undervalued. we has three plays. scott bauer in the pits of cme. i want to start with you. first of all have you seen market sentiment change on a dime as much as this market has since the first of the year? >> man, it is like flipping a coin. one week all bad news means bad news. this week, almost like this week, bad news comes out and market doesn't care, it slugs it off. it is out of sink and out of whack -- out of scene. the. weather is the issue and this is the issue. market just really doesn't care. that kind of concerns me. liz: concerns you. it excites others but michael, it does get here moving in perhaps the retail investor's heart, some of these people are rushing to stocks. some are rush
the crisis. fed chair ben bernanke became increasingly vocal in his calls for bold action. we've got bold action right here because "after the bell" starts right now. david: time from break down today's market action, rob stein, astor investment management ceo. he will tell us how he is weathering volatility in this wild market. we have michael muse sew saying that stocks are not undervalued. we has three plays. scott bauer in the pits of cme. i want to start with you. first of all...
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Feb 12, 2014
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keep in mind that people didn't realize or didn't know if yellen was going to carry the baton for bernanke and she sure delivered with a great q & a yesterday. >>she absolutely did. and what about the gold bounce? what's behind the gold rally? >>part of that just might be that we were in a deeply oversold condition. secondly, we are seeing a slow down in growth which is a little bit more dovish from central bankshence we're gonna see a pop in the gold price. >>and in the earnings checkhow well do you think earnings are coming in? >>i think earnings are coming in great 76% have beaten by 5%--that's quite a bit. however, traders need more right now because they might be long but they're not necessarily bullish. so even though earnings season is good they need great to get really bullish. >>will it be enough then to lift the stock market? it sounds like it might not be from your tone. >>no i don't think so. i think we're gonna need cooperation from growth metrics and last night we saw the trade number out of chinanext week we're gonna have pmi. so i think growth metrics is really what's gonna
keep in mind that people didn't realize or didn't know if yellen was going to carry the baton for bernanke and she sure delivered with a great q & a yesterday. >>she absolutely did. and what about the gold bounce? what's behind the gold rally? >>part of that just might be that we were in a deeply oversold condition. secondly, we are seeing a slow down in growth which is a little bit more dovish from central bankshence we're gonna see a pop in the gold price. >>and in the...
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Feb 12, 2014
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and again, the new leader of the fed continued to stress her desire to support the policies of her predecessor, ben bernanke. janet yellen was the chief architect of the current game plan and continues to support that strategy. for "nightly business report," i'm hampton pearson in washington. >>> federal reserve chair janet yellen held the market's attention for nearly all of tuesday's trading session. the more she answered questions in front of the house services committee on capitol hill, the higher stocks moved. traders liked almost all of what yellen had to say, piling into stocks, pushing the major averages closing just below session highs with the dow jones industrial average falling just 7 points shy of the 16,000 mark. all s & p large cap sectors closing higher led by energy, telecommunications and material stocks. only a handful of stocks in the s & p 500 posting losses for the session. economically sensitive stocks made particularly strong moves as yellen's comments gave a bit of a safety net for riskier technology, energy and commodity stocks. the market applauded nearly everything yellen had to
and again, the new leader of the fed continued to stress her desire to support the policies of her predecessor, ben bernanke. janet yellen was the chief architect of the current game plan and continues to support that strategy. for "nightly business report," i'm hampton pearson in washington. >>> federal reserve chair janet yellen held the market's attention for nearly all of tuesday's trading session. the more she answered questions in front of the house services committee...
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Feb 23, 2014
02/14
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that is the show for today and thank you for joining us. bernanke >>> welcome to al jazerra america i am morgan radford live in from new york city you are looking the live pictures in kiev where the parliament have vote today dismiss president victor yanukovych but he insists he won't step down, yulia tim ws released from police. and show toke there. >> translator: you gave the lift and every one of those living today and in the future you gave the gift of ukraine and that is why people who are at here and tied here they are heros forever. >> thousands both opposing and supporting the venezuelan government attended rival rallies in the capital of caracas, protesters are dementing that the president resign and he accuses them of attempting a coup authorities have captured the country's most wanted drug all right, joaquin guzman was arrested and leader the sinaloa drug cartel has been on the run since his prison escape back in 2001. >>> the national weather service confirmed several tour made mads struck central illinois, several homes hit with wind g
that is the show for today and thank you for joining us. bernanke >>> welcome to al jazerra america i am morgan radford live in from new york city you are looking the live pictures in kiev where the parliament have vote today dismiss president victor yanukovych but he insists he won't step down, yulia tim ws released from police. and show toke there. >> translator: you gave the lift and every one of those living today and in the future you gave the gift of ukraine and that is why...
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she is continuing the policies of ben bernanke but said the recovery is far from complete. its losses for the year yesterday. we had news from overseas that export data out of china that rose more than forecast. we will be back again "on the markets" in 30 minutes. >> these are the only trades you need to know about today. julie hyman joins in. reportingis deere, first-quarter earnings above analyst estimates. the company says it sees an increase in sales in its construction in for a street equipment segment and profit forecast was better than estimated. cross.er nine is there was a meeting with management in asia. crocs near-term trends are improving and they see limited downside. it raised its price target to $20 per share. >> number eight is green mountain coffee roasters which is falling after the company was sued by treehouse foods. it claims it monopolized the market. we should mention that shares of green mountain have rallied for the last six sessions. >> at number seven is dish network. charlie ergun is pressuring the mexican government to retransmit broadcasts. di
she is continuing the policies of ben bernanke but said the recovery is far from complete. its losses for the year yesterday. we had news from overseas that export data out of china that rose more than forecast. we will be back again "on the markets" in 30 minutes. >> these are the only trades you need to know about today. julie hyman joins in. reportingis deere, first-quarter earnings above analyst estimates. the company says it sees an increase in sales in its construction in...