Wednesday, August 5th13.8°C
27107
26758

Former head of U.S. Fed Reserve says central bank's role was misunderstood

TORONTO - Former Federal Reserve Chair Ben Bernanke says the U.S. central bank needs to work on helping the public understand why it intervened during the recent financial crisis.

In a speech to the Economic Club of Canada, Bernanke says this was one area where the bank could have done better during the crisis.

He says he believes Americans still think the Federal Reserve favoured Wall Street when it bailed out the financial sector.

Bernanke served as the head of the Federal Reserve from 2006 until last year, and played a key role in navigating the United States through the global financial crisis.

He is now an economist at the independent research firm Brookings Institution, headquartered in Washington.

Janet Yellen took the leadership role at the central bank in February.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14491.05+22.32
S&P CDNX589.88-4.43
DJIA17550.69-47.51
Nasdaq5105.55-9.84
S&P 5002093.32-4.72
CDN Dollar0.7577-0.0006
Gold1085.40-5.30
Oil46.24+0.11
Lumber258.60-0.10
Natural Gas2.846+0.005

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.40-0.02
Cantex0.04+0.00
Anavex Life Sciences1.46+0.33
Metalex Ventures0.05+0.00
Russel Metals19.39-0.01
Copper Mountain Mining0.80+0.01
Colorado Resources0.085+0.020
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.08-0.02
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
19503721 - 5235 Buchanan Road
3 bedrooms 4 baths
$1,190,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_








Member of BC Press Council


25648