Feature

Bernanke meets the press

Federal Reserve Chairman Ben Bernanke broke with tradition by holding a press conference after a policy-making meeting.

Federal Reserve Chairman Ben Bernanke broke with tradition by holding a press conference following this week’s meeting of the policy-making Open Market Committee. He confirmed that the Fed’s $600 billion Treasury program of bond-purchasing, or quantitative easing, would end by July 1, and that the Fed would maintain its benchmark short-term interest rate at 0.25 percent.

Bernanke noted that prices for gasoline have spiked in the second quarter, but said those increases were probably “transitory.” And he predicted that the unemployment rate, currently at 8.8 percent, would gradually decline to between 6.8 percent and 7.2 percent by the end of 2012.

Recommended

Iran claims to have built its first hypersonic missile
The Fattah missile unveiled by Iran.
Iranian Weaponry

Iran claims to have built its first hypersonic missile

Ukraine blames Russia for destroying major Dnipro River dam 'in panic'
Kakhovka Dam
Cui bono?

Ukraine blames Russia for destroying major Dnipro River dam 'in panic'

Why is Riyadh going it alone on oil cuts?
An illustrated image of oil rigs and oil barrels
Today's big question

Why is Riyadh going it alone on oil cuts?

Officials suspect dozens of girls in Afghanistan were poisoned at school
Girls in Afghanistan walk to school.
awful

Officials suspect dozens of girls in Afghanistan were poisoned at school

Most Popular

Can Chris Christie make a comeback?
A black and white photo of Chris Christie waving
Profile

Can Chris Christie make a comeback?

Is Trump's wall working?
International Border Wall Between Tecate California and Tecate Mexico.
Briefing

Is Trump's wall working?

Orlando's Gay Days draws LGBTQ crowds to Disney World amid DeSantis feud
Gay Days at Walt Disney World in 2023
Come as You Are

Orlando's Gay Days draws LGBTQ crowds to Disney World amid DeSantis feud