Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson are taking part in a Senate Banking Committee hearing today dealing with the financial crisis and the proposed rescue of the U.S. financial system.

Greenspan warns Bernanke and the US people not to use the magical piggy bank which is the Federal Reserve's ability to make up money out of thin air. Only Greenspan denies that the magical piggy bank is real. HAHAHA. He accidentally told the truth! The Federal Reserve can and will and does make money out of thin air.

Bloomberg has an interesting story today about the difficulties that Federal Reserve Chairman Ben Bernanke is facing in defining which institutions it's safe to let fail.

What Ben Bernanke is saying is that although the weak dollar is driving costs up and therefore inflation is rising, the Fed does not feel that they can raise the interest rates at this time, all bad news for seniors living on a fixed budget.

In a speech delivered this morning, Federal Reserve Chairman Ben Bernanke stated that the Fed may extend the direct lending facility to investment banks into 2009 as long as emergency conditions "continue to prevail".

In a speech delivered at the Boston Fed yesterday, Bernake hinted that he may be finished bailing out the US banking system, and would like to refocus on his actual job: preventing rampant inflation from destroying the US economy.

Ben Bernanke finally took notice of the dollar yesterday in a speech in Barcelona, Spain and indicated the end to interest rate cuts may be here

US Federal Reserve Chairman Ben Bernanke told a congressional hearing today that a recession, this year, in the United States is possible. He followed that statement by saying that he believes such a recession would be short in duration because of the actions by the fed.

Federal Reserve Chairman Ben Bernanke, in a signal he is open to cutting interest rates, said the latest bout of turbulence in financial markets may put more strain on the economy.