WASHINGTON, Feb. 9 (Xinhua) -- U.S. President Barack Obama Monday night said the U.S. economy will recover next year if right steps were taken now.
In the first prime time news conference of his presidency, Obama said the 2009 will be a difficult year, but adding that he's hoping to start seeing significant improvement in the economy early next year. Full story
WASHINGTON, March 10 (Xinhua) -- Federal Reserve Chairman Ben Bernanke on Tuesday urged a strategic overhaul of the U.S. financial regulatory system in an effort to smooth out the boom-and-bust cycles in financial markets.
The following are highlights of his speech to the Council
on Foreign Relations: Full story
March 10 (Xinhua) -- Federal Reserve Chairman Ben Bernanke on Tuesday laid out
his financial regulation reform strategy, urging an overhaul of the U.S. system.
"We must have a strategy that regulates the financial
system as a whole, in a holistic way, not just its individual components,"
Bernanke said in a speech to the Council on Foreign Relations. Full story
WASHINGTON, March 3 (Xinhua) -- U.S. Federal Reserve
Chairman Ben Bernanke said Tuesday that the government's ability to stabilize
financial markets is "critical" to an economic recovery.
"The effectiveness of the policy actions taken by the
Federal Reserve, the Treasury Department and other government entities in
restoring a reasonable degree of financial stability will be critical
determinants of the timing and strength of the recovery," Bernanke said in
testimony prepared for the Senate Budget Committee. Full story