chairman

Yesterday Federal Reserve Chairman Ben S. Bernanke has made a statement in Providence, R.I. calling on Congress to work over the new rules that will rein in budget deficits. “For now, the budget deficit has stabilized and, so long as the economy and financial markets continue to recover, it should narrow relative to national income over the next few years. Economic conditions provide little scope for reducing deficits significantly further over the next year or two; indeed, premature fiscal tightening could put the recovery at risk,” said Bernanke.

Bank of America Merrill Lynch has chosen former BHP Billiton chairman Don Argus to oversee a new advisory board for its Australian operations. According to a company memo Argus will take a chairman seat at the new Australia Advisory Board, working with the head of the bank's Australian operations Craig Drummond on the strategic and tactical direction of the local business.

 Community banks are coming under intense pressure from a crumbling commercial real estate market, a weak economy — and lop-sided competition with banking goliaths deemed too big to fail, FDIC Chairman Sheila Bair said Monday.

 The chairman of the Federal Communications Commission warned Wednesday of "a looming spectrum crisis" if the US government fails to find ways to come up with more bandwidth for mobile devices. 

Julius Genachowski said the government is tripling the amount of spectrum available for commercial uses. The problem is that many industry experts predict wireless traffic will increase 30 times because of online video and other bandwidth-heavy applications. 

Swiss Re and Credit Suisse announced the appointment of new chairmen. Walter Kielholz is to become a new chairman of Swiss Re and Hans-Ulrich Doerig is expected to occupy the same position at Credit Suisse.

Walter Kielholz, new chairman of Swiss Re will replace Peter Forstmoser. Forstmoster will resign from the board on May 1. Kielholz has held a position of a chairman at Credit Suisse before.