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Stein to step down from depleted Fed board

By Jonathan Spicer NEW YORK (Reuters) - Federal Reserve Governor Jeremy Stein, who has spearheaded the debate over whether monetary policy should be used to combat asset bubbles, will step down next month, leaving another big hole in the ranks of the U.S. central bank. Stein will leave on May 28 to return to his teaching post at Harvard University. He has served at the Fed for nearly two years, and made the move now because he risked losing tenure at Harvard had he stayed in Washington much longer.

Married to the Fed: Yellen and her husband, a Nobel winner, have built an economic partnership

WASHINGTON - As the Federal Reserve's new leader, Janet Yellen won't have to go far to bounce ideas off a fellow economist. The kitchen table will do just fine. Yellen is the first Fed leader in the central bank's 100 years to be married to an equally renowned economist — a Nobel laureate, no less. In 35 years of marriage, Yellen and George Akerlof have partnered on groundbreaking research on everything from the collapse of East Germany to out-of-wedlock births to the way generous pay for a baby sitter shows how wages motivate workers.

Fischer to put textbook work on ice while in Fed job

By Marilyn W. Thompson and Ann Saphir (Reuters) - Stanley Fischer wrote the book on macroeconomics. Literally. A noted scholar, he co-authored "Macroeconomics," one of the world's leading college economics textbooks. But as he prepares to become vice chairman of the U.S. Federal Reserve - a Senate committee holds a hearing on his nomination on Thursday - he's made a promise that may disappoint anyone who hoped he might be able to pepper the text with insights gleaned at the Fed.

Bernanke says energy a 'bright spot,' upbeat on jobs data

By Ernest Scheyder and Terry Wade HOUSTON (Reuters) - The boom in onshore natural gas production in the United States has brought down power prices and may be contributing to a "reshoring" of manufacturing jobs from overseas, former Federal Reserve Chairman Ben Bernanke said on Friday. The U.S. economy continues to recover, thanks in part to rising energy production, but more needs to be done to boost growth, Bernanke said in one of his first public speeches since handing over the reins at the Fed in January to Janet Yellen.

Yellen commits Fed to boost still-weak U.S. economy

(Reuters) - The head of the Federal Reserve vowed on Wednesday to do all that she can to boost a U.S. economy that is running well short of the central bank's objectives. "The economy continues to operate considerably short of these objectives" of maximum employment and stable prices, Fed Chair Janet Yellen said according to prepared remarks at a swearing-in ceremony at the central bank in Washington.

Bernanke enjoys 'fruits of free market' with first post-Fed speech

By Jonathan Spicer and Mirna Sleiman NEW YORK/ABU DHABI (Reuters) - Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the U.S. Federal Reserve. Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in January, according to sources familiar with the matter. That compares to his 2013 paycheck of $199,700, and the appearance was only the first of three around the world this week.

Bernanke says Fed could have done more during crisis

By Martin Dokoupil, Stanley Carvalho and Mirna Sleiman ABU DHABI (Reuters) - Former Federal Reserve Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country's financial crisis and that he struggled to find the right way to communicate with markets. "We could have done some things on the margin to mitigate somewhat the crisis," Bernanke, 60, said on Tuesday in his first public speaking engagement since he stepped down in January after eight years heading the Fed.

Don't take faster U.S. growth for granted: former Treasury chief Summers

ABU DHABI (Reuters) - Financial markets should not take an acceleration of U.S. economic growth this year for granted, former U.S. Treasury Secretary Lawrence Summers said on Tuesday. "Many of us hoped that this will be the year (of faster U.S. growth). But we cannot take it for granted yet," Summers, also a former top aide to President Barack Obama, said in a speech at a financial conference in the United Arab Emirates' capital.

US stocks gain as Yellen says no change to Fed policy

US stocks Tuesday opened higher after new Federal Reserve Chair Janet Yellen told Congress she had no plans to change monetary policy set under predecessor Ben Bernanke. Five minutes into trade, the Dow Jones Industrial Average rose 47.09 points (0.30 percent) to 15,848.88 The broad-based S&P 500 added 3.17 (0.18 percent) at 1,803.01, while the tech-rich Nasdaq Composite Index advanced 8.45 (0.20 percent) to 4,156.63.

Yellen says Fed to stay course on taper

New Federal Reserve chair Janet Yellen said Monday that she had no plans to change monetary policy from that mapped out by her predecessor Ben Bernanke. In her first comments on the US central bank's path forward after the took the helm on February 1, Yellen said the Fed would continue to slowly reel in its huge stimulus while keeping a close eye on the labor market, where recovery remains "far from complete." pmh/vs
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