Summary Box: Bernanke sees economy nearing a recovery, but financial problems persist

September 30th, 2009 Bernanke asks Congress to empower regulatorsWASHINGTON — Federal Reserve Chairman Ben Bernanke says federal regulators should be responsible for ensuring that the financial institutions they oversee don't become so big and unwieldy that their failure could bring down the economy. In testimony prepared for a House hearing on Thursday, obtained in advance by The Associated Press, Bernanke said Congress should establish a council of regulators to monitor large, influential firms like insurance giant AIG.

September 30th, 2009 Summary Box: Economic recovery looks bumpyTHE WAY WE WERE: The economy contracted at a pace of 0.7 percent in the second quarter, a vast improvement from the first three months of this year, when the economy shrank at a pace of 6.4 percent, the biggest downhill slide in nearly three decades. THE RECOVERY PHASE: Many analysts predict the economy returned to growth in the just-ended third quarter at a pace of at least 3 percent.

September 23rd, 2009 Summary Box: Fed says economy is picking upIMPROVING PICTURE: Federal Reserve policymakers upgraded their view of the economy, saying "economic activity has picked up." SLOWING SOME SUPPORT: The Fed decided to stretch out a program intended to lower mortgage rates and prop up the housing market. It says it will complete its $1.45 trillion program to buy mortgage-backed securities and debt by the end of March, rather than the end of this year.

September 15th, 2009 WASHINGTON - Federal Reserve Chairman Ben Bernanke said Tuesday that the worst US recession in seven decades has "very likely" come to an end, but warned the country's economy will remain weak for some time. The US central bank head said there was general agreement among economists that the United States would return to growth in the third quarter of this year and continue to pick up in 2010.

September 4th, 2009 Summary Box: Unemployment reaches 26-year highTHE BAD NEWS: The jobless rate jumped to 9.7 percent in August, the Labor Department said Friday, from 9.4 percent in July. That's the highest rate since June 1983.

September 2nd, 2009 WASHINGTON - The US Federal Reserve sees an end to the economic crisis in the second half of the year even as problems are expected to remain on the job market, according to minutes of the central bank's last meeting released Wednesday. Still the majority of the central bankers said at the Aug 11-12 meeting that they expected recovery to be slow and stressed that the economy was "still vulnerable to adverse shocks".

August 25th, 2009 Obama expected to renominate BernankeWASHINGTON — President Barack Obama is taking a break from his Martha's Vineyard vacation today to offer Federal Reserve Chairman Ben Bernanke another four-year-stint at running the central bank. A senior administration official says Obama plans to make the announcement Tuesday morning.

August 21st, 2009 Summary Box: Jobless claims bad sign for recoveryWHAT HAPPENED?: New jobless claims rose for the second straight week, disappointing analysts who were expecting a drop. At the same time, an index of leading economic indicators and a regional manufacturing index rose, providing more evidence that the economy may be recovering.

August 13th, 2009 Summary Box: Unexpected drop in retail salesWHAT HAPPENED?: Retail sales fell unexpectedly in July, while first-time claims for jobless benefits rose slightly last week. The reports raised concerns about the ability of consumers to fuel a broad economic recovery.

July 22nd, 2009 Federal reserve chief heads back to Capitol HillWASHINGTON — Federal Reserve Chairman Ben Bernanke heads back to Capitol Hill Wednesday, where he's likely to face more tough questions about the central bank's extraordinary actions to rescue the economy and its ability to take on even more responsibility. Last year's taxpayer-financed rescues of insurance giant American International Group and others have touched a nerve with the public and some lawmakers.

June 24th, 2009 Warren Buffett compliments Bernanke and GeithnerOMAHA, Neb. — Billionaire Warren Buffett says the United States has a good team leading the Treasury Department and Federal Reserve as it fights what he's called an economic war.

June 4th, 2009 Bernanke: crisis shows need for more researchWASHINGTON — Federal Reserve Chairman Ben Bernanke says the global financial crisis highlights the need for economists to deepen their understanding of how events on Wall Street can affect the broader economy. In prepared remarks to a Fed conference, Bernanke says: "The rationale for such research has certainly been underscored by the financial crisis that began in August 2007 and the powerful adverse effects of the crisis on economic activity around the globe." The Fed chief's remarks didn't mention current economic conditions, or offer clues as to whether the central bank would announce any additional steps to shore up the economy at its meeting later this month.

May 31st, 2009 Geithner sees hopeful signs in US economyBEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S.

May 5th, 2009 Tracking Bernanke's comments on the economyWASHINGTON — Federal Reserve Chairman Ben Bernanke said Tuesday that the U.S. economy could begin to grow later this year if the government can gradually repair the financial system.

April 22nd, 2009 HK finance chief sees early economic recoveryHONG KONG — Hong Kong's slumping economy will stage an early recovery as growth rebounds in mainland China, the territory's financial chief said Wednesday. Financial Secretary John Tsang said the global economic crisis remained a "serious threat." But he voiced confidence the government's measures, coupled with rising mainland economic activity as Beijing spends its way to higher growth, will heal the territory's economy faster than expected.