As the nation's budget deficit continues to grow, the government may be looking for new sources of revenue. Therefore, formerly sacred cows such as credit unions' tax-exempt status may go the way of VCRs and rotary phones.
Low inflation and a sluggish economy are "likely to warrant exceptionally low levels of the federal funds rate for an extended period," Federal Reserve Chairman Ben S. Bernanke told the House Banking Committee today.
Saying it has been "an honor to be able to serve my country at the Federal Reserve," during a 40-year career as a staff member and board member, Federal Reserve Vice Chairman Donald L. Kohn informed President Obama today that he will retire on June 23.
Federal Reserve Chairman Ben S. Bernanke came one step closer to a second term this afternoon when the Senate voted 77-23 to end the debate on his confirmation.
After considerable arm twisting by the White House, the Senate today confirmed Federal Reserve Chairman Ben S. Bernanke for a second term as head of the nation's central bank.
The Senate is likely to vote this week on the confirmation of Federal Reserve Chairman Ben S. Bernanke for a second term and there appears to be increasing support for him among lawmakers.