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Speaking in an in interview on CNBC, recently-retired Fed Governor Frederic Mishkin praised Fed Chairman Ben Bernanke and U.S. Treasury Secretary Paulson for being the right people to deal with the current situation. In many ways, the current situation is worse than the Great Depression , said Mishkin...
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Congress needs to act swiftly to address the financial market turmoil and not drag the process of passing legislation with unnecessary provisions, Fed Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson told lawmakers on Tuesday in prepared remarks. "As you know, the U.S. economy continues...
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In an unprecedented series of actions from the U.S. Treasury Department, the U.S. Federal Reserve and the U.S. Securities and Exchange Commission over the last 24 hours, the administration has announced plans to purchase illiquid assets from financial institutions. It also promised to buy up Fannie Mae...