Federal Reserve Chairman Ben Bernanke looks set for another go around.
The news today is a man: Federal Reserve Chairman Ben Bernanke. The head of the U.S. central bank is being nominated for another four-year term by President Obama. The announcement is expected this morning around 9 a.m. Eastern. Bernanke, whom Obama credits with staving off the Great Depression 2.0, still needs Senate confirmation.
Meanwhile, a court order says the Federal Reserve must name the financial firms it loaned money to during the economic crisis. The decision comes in a Freedom of Information suit by Bloomberg News.
The White House budget office and the Congressional Budget Office release reports this morning that are expected to predict giant federal deficits. The 10-year forecast calls for something like $9 trillion in red ink.
China has gotten the jump on the market for solar energy technology, in part because of Chinese government support for the industry. Chinese companies are planning production in the U.S. They've cut the price of solar panel nearly in half over the last year.
Calculated Risk tracks big banks raising more capital, including Deutsche Bank.
Advisers to GM are urging the automaker to keep its Opel line instead of selling it to the international companies vying for it. The idea is to give GM a larger presence overseas.
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