For all the transparency forced on the Federal Reserve by Congress and the courts, one of the central bank’s emergency-lending programs remains so secretive that names of borrowers may be hidden from the Fed itself.
Jennifer Cavallaro’s Twitter feed usually deals with matters like the free-range egg salad she serves at her Beehive Café in Bristol, Rhode Island. On May 17, 2010, she blasted a different message to her followers.
George Akerlof, a Nobel Prize- winning economist and the spouse of Federal Reserve Chair Janet Yellen, resigned an unpaid advisory position with a University of Zurich center funded by UBS AG, saying he wants to avoid an appearance of conflict of interest.
The panel authorized by Congress to investigate the financial crisis published the transcript of a 2009 interview with Federal Reserve Chairman Ben S. Bernanke after initially saying it would be withheld.
President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
Federal Reserve Chairman Ben S. Bernanke minimized concerns that the central bank’s easy monetary policy has spawned economically-risky asset bubbles in comments at a meeting with dealers and investors this month, according to three people with knowledge of the discussions.