National Journal Online

Bernanke: No Timeline for Ending the Fed’s Accommodative Policies

Federal Reserve Chairman Ben Bernanke made clear on Wednesday there won't be any new moves to spur economic growth from the nation's central bank any time soon but he also indicated it will likely be several more months before the Fed begins to tighten monetary policy.

At his second news conference, Bernanke said the Fed will continue to “monitor the economy, revise our outlook … and make a judgment based on the incoming data.”

Posted: Wednesday, June 22, 2011 - 5:40pm

Critics Say FCC Reform Bill May Hinder Agency

Despite apparent consensus among stakeholders that some changes are needed in how the Federal Communications Commission functions, members of a House panel disagreed on Wednesday over how far a draft bill should go -- particularly over whether the agency should be required to show that proposed rules would fix problems in the marketplace.

Posted: Wednesday, June 22, 2011 - 4:40pm

Obama to Pull Out Entire Surge by the End of Next Summer

President Obama will announce tonight that he's pulling 10,000 American soldiers out of Afghanistan this year, and another 20,000 by the end of next summer, The New York Times' Helene Cooper and Mark Landler report. The drawdown--which totals the entire 2009 surge of troops--is faster than what military commanders advised.

Posted: Wednesday, June 22, 2011 - 4:40pm

Second Fed Conference Confirms Recovery Is Unpredictable

At his first press conference in April, Ben Bernanke was widely reviewed as pretty boring and predictable. At his second session on Wednesday, the Fed chairman was forced to address what he didn't predict two months ago: A slower recovery and tougher questions.  

Bernanke admitted, “We have revised our outlook significantly since April.”

Bernanke repeated his request to congressional budget negotiators to take a “longer-term view” as they discuss fiscal cuts.

Posted: Wednesday, June 22, 2011 - 4:40pm

Bachmann Headed To NH, SC, After Kicking Off Campaign In IA

Updated at 4:33 p.m.

More than a week after announcing that she had filed presidential candidacy papers, Rep. Michele Bachmann, R-Minn., will kick off her campaign in Waterloo, Iowa, on June 27, at 9 a.m. Central Time, according to a release from her campaign. In the days following, she will set out on a three-day tour through the early voting states: Iowa, New Hampshire, and South Carolina.

Posted: Wednesday, June 22, 2011 - 4:40pm

Liveblogging President Obama's Afghanistan Speech

6:03 p.m.: Alex Roarty details the sharply dove-ish tack that the 2012 Republican contenders have taken when it comes to Afghanistan. Read more here.

Posted: Wednesday, June 22, 2011 - 4:40pm

How Tim Pawlenty's Pastor Could Undermine His Candidacy

Whenever Tim Pawlenty's placebo candidacy is brought up, it seems like his close relationship with pastor Leith Anderson is also discussed--specifically, whether or not the influential Evangelical pastor will undermine his candidacy.

Posted: Wednesday, June 22, 2011 - 4:40pm

Spending Concerns Delay Patent-Reform Vote

Lingering fallout from a new manager’s amendment again delayed consideration of sweeping patent-reform legislation on Wednesday.

The America Invents Act was scheduled for floor debate on Wednesday morning. But the manager’s amendment, which strikes a compromise between the bill’s sponsors and House appropriators, sparked a debate over spending, delaying consideration of the bill until the evening.

Posted: Wednesday, June 22, 2011 - 3:40pm

House Takes Up Resolution to Stop Airstrikes in Libya

House Republicans will again challenge President Obama on Libya, offering two resolutions that seek to limit the scope of the mission for a vote as soon as Thursday, The New York Times' Charlie Savage reports. One proposal would demand Obama halt American bombing of Libya by both drones and piloted aircraft, while allowing the U.S. to support the NATO mission in other ways, like search and rescue and reconnaissance.

Posted: Wednesday, June 22, 2011 - 3:40pm

PICTURES: Historic Bars in Washington

Bars in Washington D.C. have long been a place for politicians to put their partisan differences aside. So when a fire damaged a favorite Capitol Hill watering hole, cries of concern were heard from both parties.

Here’s a look at some of the oldest bars in Washington that are still serving up drinks to politicians, staffers, and presidents:

Posted: Wednesday, June 22, 2011 - 3:40pm