Ben Bernanke has handed the reins at the Fed to his successor but Janet Yellen faces a tricky challenge in weaning the US off quantitative easing without upsetting the global economy, writes Kyran Fitzgerald.

The Federal Reserve stayed the course on tapering its stimulus for the US economy yesterday, reducing asset purchases by $10bn (€7.32bn) for the second month in a row.

The US Senate confirmed Janet Yellen as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates and massive bond purchases.

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.

The Federal Reserve has decided against reducing its stimulus for the US economy.

The US stock market paused yesterday as investors tried to figure out what to do next following the Federal Reserve's decision to hold steady on its stimulus for the economy.

The Federal Reserve unexpectedly refrained from reducing the $85bn pace of monthly bond buying, saying it needs to see more signs of lasting improvement in the economy.

Former US treasury secretary Lawrence Summers has withdrawn from consideration to be chairman of the Federal Reserve, saying it would hurt the nation for him to go forward with what would be a contentious confirmation before the US Senate.

President Barack Obama has said his nominee for Federal Reserve chairman will be someone who embraces the central bank’s dual mandate to promote price stability and maximum employment, and he has narrowed his choice “to some extraordinarily qualified candidates”.

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.”

Federal Reserve chairman Ben Bernanke said he had not discussed with US President Barack Obama the possibility of serving a third term at the helm of the US central bank, leaving his future up in the air.

Economic optimism is now official.

World stock markets rose today after President Barack Obama won a fiercely-contested race for re-election, allowing him to refocus his attention on issues other than the campaign.

US Federal Reserve chairman Ben Bernanke is far more important to the US economic recovery and the markets than the US President, says John Mennis, a London-based stockbroker with Investec.

Mitt Romney’s strong outing in the first US presidential debate this week signals that the race for the White House may be tighter than imagined. So what can Ireland expect if the Republican hopeful wins, asks Kyran Fitzgerald

The ECB chief’s plan is awaited with interest by the markets, writes Alan Wheatley

Increased optimism that central bankers will pull the trigger on further emergency support measures ensured a robust performance on the London market today.

The Iseq Index rebounded as world markets reacted positively to comments made by US Federal Reserve chairman Ben Bernanke.

Disappointment over US Federal Reserve chairman Ben Bernanke’s failure to offer clear signals of imminent economy boosting measures sent the FTSE 100 Index into the red today.

The Iseq Index fell further as worldwide markets anticipate Federal Reserve chairman Ben Bernanke’s speech at Jackson Hole today.

The euro gained against the majority of major currencies after German business confidence fell less than some economists forecast, suggesting the region’s largest economy can withstand the sovereign-debt crisis.

The market declined by 0.64 points to 3,216.96 yesterday.

The Chairman of the Federal Reserve, Ben Bernanke, could signal new measures to boost economic growth in the US.

Oil fell for a third day after government data showed US inventories rose to the highest level in more than five months and on expectations that the Federal Reserve will not take new action to bolster the economy.

The Nasdaq composite index briefly touched 3,000 today for the first time since the collapse in dot-com stocks more than a decade ago. Stocks ended lower, but it was still the best February on Wall Street in 14 years.

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

The US Federal Reserve today painted a bleaker outlook for the nation's economy, which it thinks will grow much more slowly and face higher unemployment than it had estimated in June.

US Federal Reserve Chairman Ben Bernanke says the US economic recovery “is close to faltering” and the central bank is prepared to take further steps to support it.

Federal Reserve chairman Ben Bernanke said long-term unemployment was an American “national crisis” and urged the US government to take further action to combat it.

London’s leading share index suffered its biggest daily fall for almost three years after bleak comments from US Federal Reserve chairman Ben Bernanke again raised double-dip recession fears.

The US Federal Reserve is running out of options to try to boost a slumping economy and lower unemployment.

US stocks closed sharply lower after Federal Reserve chairman Ben Bernanke offered no new insight into whether the central bank will act soon to prop up the economy.

OIL rose to the highest level in more than a week in New York, climbing with equities on optimism that the economy willexpand and a report that US consumer spending gained in July.

THE US economy expanded less than estimated in the second quarter, underscoring the weakness that has prompted the Federal Reserve to mark down its growth forecasts.

US Federal Reserve chairman Ben Bernanke is proposing no new steps by the Fed to boost the economy while hinting that Congress may need to act to stimulate hiring and growth.

The London market fell nearly 1.5% today after hopes faded that the US would announce more quantitative easing to inject fresh life into its economy.

Stock markets in Europe and the US have rebounded, led by shares in energy firms, on hopes that fighting in Libya may soon end.

The US Federal Reserve has said it is likely to keep interest rates at record lows for the next two years after acknowledging that the US economy is weaker than it had thought.

The turmoil battering world markets showed signs of easing today amid hopes of a fresh round of stimulus measures to boost the flagging US economy.

Strong profits and a bipartisan plan to lift the US debt limit have driven a stock market rebound on Wall Street.

The London market ended slightly higher as lower oil prices hit the energy sector and overshadowed a strong session for UK insurers.

Federal Reserve chairman Ben Bernanke says new regulations will be unveiled this summer to protect the US economy from another meltdown of the nation’s largest banks and financial companies.

Regulators are working closely to strengthen oversight of inner workings of the US financial system, part of a broader effort to prevent a repeat of the 2008 financial crisis, Federal Reserve chairman Ben Bernanke said.