FROM Edmund Andrews
Obama Interrupts Vacation to Ask Bernanke to Stay on at Fed Just as Wall Street opened for business today, President Obama announced his decision to nominate Ben Bernanke to a second term as Chair of the Federal Reserve. Interrupting his vacation on Martha’s Vineyard, the President credited Bernanke’s “bold action and out-of-the-box thinking has helped put the brakes on our economic freefall.” Edmund Andrews reports for the New York Times .
The Presidential Candidates on the Economy A front-page headline in today's New York Times says, " Parties Differ on Whom Economic Aid Should Help ." But the story goes on to say that when a presidential campaign coincides with both a Wall Street crisis and soaring home foreclosures, "traditional ideological battles… become blurred." Barack Obama and Hillary Clinton have unveiled government rescue plans for homeowners at costs of about $30 billion. John McCain says it's "not the duty of government to bail out and reward," but he supports the Federal Reserve's plan to lend banks and investment firms up to $400 billion. Are the parties as different as the rhetoric makes them sound? Why is Wall Street contributing more to Obama and Clinton than McCain?
Bernanke Leaves Door Open for Further Rate Cuts "The economic situation has become distinctly less favorable" and "the risks to this outlook remain on the downside." That the grim commentary today from Federal Reserve Chair Ben Bernanke, testifying before Congress. Edmund Andrews writes about economics for the New York Times .
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.