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Tag Archives: Senate Banking Committee

Bernanke: Fed’s efforts have helped the economy

WASHINGTON — Chairman Ben Bernanke told lawmakers Wednesday that the Federal Reserve’s efforts to bolster growth have helped lift the U.S. economy out of the Great Recession. But he acknowledged that growth remains weak and the Fed can only do ...

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Bernanke: Recession likely if Congress doesn’t act

WASHINGTON — Federal Reserve Chairman Ben Bernanke painted a dark picture of where the U.S. economy is headed if Congress fails to reach agreement soon to avert a budget crisis. “It would probably knock the recovery back into a recession ...

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JPMorgan CEO Dimon says execs may have pay taken back

WASHINGTON — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company. “It’s likely that there will be ...

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Chase CEO Dimon plans to apologize before Congress

NEW YORK — JPMorgan Chase CEO Jamie Dimon plans to apologize before members of Congress on Wednesday for a trading loss that has cost the bank more than $2 billion. He is also saying that the bank has taken steps ...

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SEC reviewing JPMorgan’s filings after $2B loss

WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee ...

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Bernanke not worried by higher gas prices

WASHINGTON — Federal Reserve Chairman Ben Bernanke boldly predicted to Congress on Tuesday that rising oil prices will cause only a brief and modest rise in consumer inflation. If he’s wrong, as some lawmakers suggested to him, the risks are ...

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Fed boss Bernanke: It will take years for jobs to come back

WASHINGTON — Federal Reserve Chairman Ben Bernanke told Congress Friday that there is increasing evidence that a “self-sustaining” economic recovery is taking hold, but he said the Fed’s $600 billion Treasury bond-buying program is still needed because it will take ...

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Bank of America making changes in foreclosure process

WASHINGTON — Bank of America is telling a Senate panel it is making changes in its foreclosure process after an extensive review found areas needing improvement. The bank is one of several big mortgage lenders that recently suspended foreclosures temporarily ...

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