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Latest Bernanke Banking Stories

2008-08-22 12:00:09

U.S. Federal Reserve Chairman Ben Bernanke said Friday "the financial storm" hadn't abated but was rippling through the general economy. Speaking at the central bank's annual meeting in Jackson Hole, Wyo., Bernanke said, "the financial storm that reached gale forces Â… has not yet subsided." Bernanke said the "recent decline in commodity prices, as well as the increased stability of the dollar, has been encouraging." The bank, he said, "is committed to achieving medium-term...


Word of the Day
tesla
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.