Former Federal Reserve Chairman Ben Bernanke testified in federal court Thursday that insurance giant American International Group Inc. had to be rescued by the government in 2008 to avert global catastrophe.

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WASHINGTON — The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates ...

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Over the past couple of columns, we’ve been reviewing the impact of rising mortgage rates, as well as the impetus for those rate increases. We recently explained how the Federal Reserve, led by Chairman Ben Bernanke, triggered a jump in mortgage rates by suggesting that the Feds might begin to tighten up on their easy money policies.

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Average U.S. rates on fixed mortgages declined this week amid signs the economic recovery is slowing. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.50 percent from 4.57 percent last week. The ...

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WASHINGTON — U.S. home sales rose last month to the highest level since February 2007 as buyers rushed to close deals before mortgage rates increased further. Yet the gain could represent a temporary peak if higher rates slow sales in ...

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WASHINGTON — The Federal Reserve has a more downbeat outlook on the U.S. economy for 2013 and 2014 than it did three months ago. The Fed predicts that the economy will grow just 2 percent to 2.3 percent this year, ...

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WASHINGTON — Hiring is soft. Pay is barely up. Consumers are cautious. Economic growth has yet to pick up. And yet on Wednesday, the Federal Reserve is expected to take its first step toward reducing the extraordinary stimulus it’s supplied ...

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WASHINGTON — Lawrence Summers, who was considered the leading candidate to succeed Ben Bernanke as Federal Reserve chairman, has withdrawn from consideration, the White House said Sunday. Summers’ withdrawal followed growing resistance from critics, including some members of the Senate ...

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WASHINGTON — U.S. consumer prices rose only slightly last month as gas costs increased more slowly. Overall, the figures showed that inflation remains mild. The Labor Department said Thursday that the consumer price index rose 0.2 percent in July after ...

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WASHINGTON — A U.S. judge has ordered that Federal Reserve Chairman Ben Bernanke can be questioned in a lawsuit against the government filed by the former head of American International Group Inc. It is rare for a Fed chairman to ...

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