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Ben Bernanke

The Fed

The Next Federal Reserve Chairman: Summers Out, Yellen In

Larry Summers shocked Wall Street and Washington circles on Sunday by withdrawing his name for consideration as the next U.S. Federal Reserve chairman.

Summers wrote in a letter to U.S. President Barack Obama, "I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration, or ultimately, the interests of the nation's ongoing economic recovery."

His decision comes at a critical point for the Federal Reserve.

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The Fed

Why Ben Bernanke's Market Manipulation is So Brilliant

Nothing lasts forever, apparently not even quantitative easing.

On Wednesday, Fed Chairman Ben Bernanke threatened to take away the massive punch bowl that's been spiked with easy money juice.

There's no set timetable, but maybe there is. It's hard to interpret Fedspeak.

So maybe they'll start paring back their $85 billion a month buying spree, or maybe they'll jack it up, which is what Benny said only a few sessions ago.

What the heck is he doing? What are they doing? And who are "they" anyway?

Here's the deal…

The Fed

7 Reasons Not to Trust the Bernanke Testimony to Congress

As usual, the markets were hanging on every word of the Bernanke testimony to Congress today (Wednesday).

By now, everyone should know better.

In the years that U.S. Federal Reserve Chairman Ben Bernanke has been a member of the Fed – both as a member of the Board of Governors from 2002 to 2005, and in his two terms as chairman beginning in 2006 – he has been stupendously wrong time and time again.

Bernanke gave the markets what they wanted by hinting that his monetary easing policies won't change any time soon, pushing both the Dow Jones Industrial Average and the Standard & Poor's 500 Index up more than 0.5% in midday trading.

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