Fed In General News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Into effect. of course, the president, democrats are going to figure out what changes to make there, but the really big news on the economy came yesterday. obviously, with ben bernanke. >> joining me is former treasury official and analyst steve rattner. also, we have new york times reporter jeremy peters. good to have you both onboard. we'll start with ben bernanke. he expressed confidence in the nation's economic growth yesterday saying the fed will start to rein in its stimulus program later this year. bernanke laid out the federal reserves plan, which includes tapering off its multibillion...

Them to near zero until unemployment falls to 6.5%. as for wall street's response, this may be where things change. the markets took a dive as soon as bernanke started speaking. by 3:05 the dow fell 140 points closing the day down more than 200, steve rattner. >> i wouldn't freak out over that considering that the market is so inflated right now anyway, but we'll talk about how bernanke signaled that things are going to be changing moving forward. >> what we are arguing about here or talking about rather is defense bond-buying program where they have been buying bonds. so we have a chart that ...

Chair and the republican party is pretty divided on the role of the fed in general, but more specifically what kind of input do you think congress is going to have on this question of, this fed action and the identity of the new head of the fed? >> right. well, of course, when president obama nominates a new head of the fed, which will happen probably later this year, the senate will ultimately have to confirm that person. in the senate these days nothing gets done easily. when you have a government entity as divisive as the fed is, in the minds of some republicans, like rand paul, some senato...