Dec 03

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Tough Criticism for Bernanke

Federal Reserve Chairman Ben Bernanke faced tough criticism Thursday from a Senate committee for the central bank's failure to regulate risk-taking on Wall Street.

Testifying before lawmakers Thursday, Ben Bernanke reiterated a call for the Fed to be given supervisory powers over institutions that pose a systemic risk to the financial system, and proposed that a council of regulators help monitor risk.

Ending speculation that he might appoint a new central bank chief, President Obama said he would nominate Fed Chairman Ben Bernanke for a second term Tuesday as the administration continues its efforts to stabilize the embattled U.S. economy.

A year after Wall Street went into a tailspin, the Fed continues to take unprecedented steps to revive the economy. David Wessel has penned a book about Ben Bernanke and the changing role of the Fed. He answered questions in…

Paul Solman: The Federal Reserve has long had a reputation for being secretive. Its closed-door policy has fueled suspicions and countless conspiracy theories since the central bank was established nearly a century ago. And since the Fed has moved rapidly…

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