It is official, then. Janet Yellen is to become the first female ‘chairman’ of the US central bank next February and as such, she will be in a position to affect all our lives.

WHEN economic historians look back at the first couple of decades of the new millennium, it will be characterised as the great recession which presaged the age of austerity.

Whenever Alan Greenspan was praised for delivering a clear message on US monetary policy, he liked to reply something along the lines of: “If you think that, you have misunderstood what I said.”

Can Mario Draghi, the new broom at the head of the European Central Bank, deliver on his pledge to do whatever it takes to defend the European currency from attack, asks Kyran Fitzgerald

A new normal dawns for the Irish banking sector.

Four years on, “Hope and Change” has become “Forward”, as President Barack Obama road tests a new campaign slogan to encapsulate his re-election bid.

As the eurozone crisis edges closer to another 2008-style meltdown, the situation calls for the intervention of the banking big-boys with the money to assure markets and hopefully get credit flowing once more, reports Kyran FitzGerald

All The Devils Are Here The Hidden History of the Financial Crisis. Bethany McLean and Joe Nocera, Portfolio Penguin paperback €£10.99; Kindle £4.99

The German Finance Minister has said that eurozone countries will one day have to adopt a common financial policy.

Former US Federal Reserve chairman Alan Greenspan has said the eurozone is breaking apart due to variations between economies in the north and south of Europe.

US Federal Reserve chairman Ben Bernanke has been unveiled as Time magazine’s person of the year for 2009.

US President Barack Obama has announced he wants Ben Bernanke to get a second four-year term as head of the Federal Reserve, praising his “calm and wisdom” in the face of a near financial collapse.

I AM intrigued by regular suggestions that we must heed “the market” in regard to such matters as banks’ capitalisation.

US President George Bush said today that despite diving stock markets and fears of global recession, now is not the time for nations to abandon open market policies or approve changes that would threaten free enterprise.

The Minister for Finance Brian Lenihan hinted again today that the Government could yet step in to pump money in to the country's ailing banks, as share prices continue to fall.

America is “in the midst of a once in a century credit tsunami”, a former US Federal Reserve chairman said today.

Wall Street sank today, after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers.

THERE is more than a 50% chance the US could go into recession, former Fed chairman Alan Greenspan said in Spain’s El Pais newspaper yesterday.

IT WAS a bad week for the economy in more ways than one.

THE strong endorsement by Fitch Ratings of the Irish economy reaffirms the belief this country has gone about its day-to-day business in a competent manner over the past few decades.

Stocks sank today as a modest upturn in existing home sales failed to lift investors’ downcast spirits on the last day of Wall Street’s volatile and difficult year.

RISING global food prices may prove a double-edged sword in the coming years as inflation threatens to spiral out of control.

Wall Street extended last week’s losses today as investors remained concerned about flagging growth and rising prices, and were sceptical that a special Federal Reserve credit auction would be a solution.

Fresh gloom over the US economy and fears among retailers over Christmas trading saw London's blue chips slump nearly 2% today.

FORECASTS from the Government in its pre-Budget outlook yesterday paints a grimmer picture of the economy for the next few years than has been the case.

DESPITE all the high-level assurances about the security of their funds it is not difficult to have sympathy with the fretful people queuing outside Northern Rock branches.

Stocks fell moderately today as Wall Street anxiously awaited the Federal Reserve’s impending decision on interest rates.

US president George Bush was surprised by the criticism levelled against him and his administration by former Federal Reserve chairman Alan Greenspan in his new book, the White House said on Monday.

Mortgage bank Northern Rock endured another disastrous day on the London market after shares fell by a further 28% today.

IF Alan Greenspan was still in charge at the US Federal Reserve Bank it is probable that would have cut rates before now.

Wall Street plunged while bonds surged higher today after the government reported that payrolls in August fell for the first time in four years rather than rising as had been expected. The Dow Jones industrial average fell nearly 250 points.

Investors kept a watchful eye on US markets today as a major sell-off of treasury bonds added to fears of rising interest rates.

Wall Street plunged today as investors, driving the Dow Jones industrial average down nearly 130 points, grappled with a seemingly relentless rise in bond yields.

Fresh fears over the Chinese stock market put world markets under pressure today.

Wall Street rose smartly in a quiet session today as investors adjusted positions ahead of a bank holiday weekend and tried to determine whether a lacklustre week presaged a departure from the market’s months-long run-up or merely a temporary pause.

Fears over the US economy and Chinese share prices put world markets under pressure today.

The London market plunged below the 6600 barrier today as investor nerves were shaken by economic fears in the US and China.

The London market retreated back below the 6600 barrier today on the back of concerns China’s over-heating economy is heading for a fall.

Wall Street advanced for a second session in a row today as investors placed bets that the Federal Reserve would not indicate that it is leaning toward a US interest rate hike.

US stocks managed a moderate advance today, staying afloat as signs of strength in corporate takeover activity, jobs and overseas markets allowed investors to stomach a sharp rise in wholesale inflation.

THE recent financial market correction is unlikely to hit the global economy, but it is a reminder of the risks inherent in markets, central bankers from leading economies agreed yesterday.

FORMER Federal Reserve chairman Alan Greenspan says there’s a one-third probability of a US recession this year and that the current expansion won’t have the staying power of its decade-long predecessor.

TURBULENCE on China’s stockmarket over the past week has raised questions about the sustainability of its current boom.

The FTSE 100 Index ended a turbulent week in positive territory today.