Sunday, July 27th18.9°C
21452
21953

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

22447


Recent Trending




Today's Market
S&P TSX15455.04+60.59
S&P CDNX1017.445.79
DJIA16960.57-123.23
Nasdaq4449.564-22.543
S&P 5001978.34-9.64
CDN Dollar0.9255+0.0009
Gold1308.00+4.90
Oil104.30-0.29
Lumber325.50+0.20
Natural Gas3.767-0.014

 
Okanagan Companies
Pacific Safety0.185-0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07-0.01
Anavex Life Sciences0.275-0.005
Metalex Ventures0.08+0.01
Russel Metals35.36-0.21
Copper Mountain Mining2.820.00
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.19+0.01

 





FEATURED Property
20061525325 Booth Road, Kelowna
5 bedrooms 4 baths
$1,495,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...

_








Member of BC Press Council


22707