The latest news on Bernanke, Ben
The Washington Whispers story reporting Fed chief Ben Bernanke's private worries that the economy is in even worse shape than he has admitted publicly landed with a thud in the markets today. About 10:30 a.m., with the Dow Jones industrial average down just 50 points, CNBC picked up the story, showing it twice on the TV screen from the floors of the exchange and Chicago Board of Trade. Within an hour, the Dow had dropped an additional 150 points.
Fed chair had a big reason for the rate cut: He thinks things are even worse than he has let on.
The central bank's move, signaling increased fears of recession, is its largest cut since 1984.
The big Fed rate cut is a step toward restoring investor confidence.
Bush and Congress are working up pricey fiscal packages to ward off a recession.
The White House and Fed chairman both back a quick, temporary boost for the economy.
More interest rate cuts should strengthen stocks.
Because Bernanke has not acted aggressively enough to deal with the economy's problems, it's possible he'll get replaced when the next president comes into office.
Central banks open up their ATMs—but is anybody in line?
The Fed chairman is seen as weak and too willing to compromise.