Federal Open Market Committee (FOMC)
Yellen expects 'lift-off' later this year
Janet Yellen expects the Fed to raise the federal funds rate "at some point" in 2015 with full employment "coming closer into view" and inflation on track to return to 2% in the next few years
Markets having trouble grasping ‘data-dependent' policy, says Kansas City Fed director
Getting markets to understand the concept of data-driven monetary policy remains a big challenge, according to Kansas City Fed's Troy Davig
People: Madigan returns to Fed board; FCA appoints retail supervisory head
Brian Madigan returns to the Federal Reserve Board as FOMC secretary; Financial Conduct Authority names Jonathan Davidson director of supervision, retail and authorisations; and more
Research calls on Fed to replace ‘dot plot’
Working paper published by the IMF suggests publishing a baseline forecast compiled by staff and 'endorsed' by the FOMC as a replacement for individual and anonymous projections
Radical rethink of central banking is still possible
Bank of Canada governor Stephen Poloz's call for central banking to be "reinvented" is a timely reminder that others need to heed
Fed officials still back 2015 rate hike
Median of latest projections suggests federal funds rate will reach 0.625% by the end of the year; FOMC delivers more upbeat assessment as its keeps policy unchanged
IMF tells Fed to wait until 2016 to hike rates
Fund says keeping rates lower for longer would provide ‘valuable insurance’ against disinflation; encourages Fed to hold more press conferences and publish quarterly monetary policy report
Fed’s Brainard sees scope for ‘watchful waiting’
Governor says there may be room to ‘support further healing’ in the labour market before raising interest rates, but notes first hike could still come this year
Boston Fed president preaches patience
Eric Rosengren says it is too soon to know whether weaker economic activity at start of year is down to temporary factors or ‘broader changes in the economy’
The MPC process in light of the Warsh Review
The Bank of England’s revised MPC meeting schedule has some merits but will not add to transparency and raises the risk of news shocks, writes former member Charles Goodhart
Fischer sees shocks disrupting future path of rates
Fed vice-chair Stanley Fischer says smooth upward path for the federal funds rate will ‘almost certainly not be realised’ given the likelihood of shocks in the US economy
Cleveland Fed’s Mester sees guidance as 'comms device'
Loretta Mester believes the Fed should stop using forward guidance as a policy tool when economic conditions have normalised and stick to setting out its reaction function
Fisher says goodbye to ‘honourable tradition of central banking’
Dallas Fed president delivers last speech before standing down; talks about the value of public service and praises his colleagues for work at the Fed and ‘for the love of the thing itself’
Ongoing reports of recovery add little to FOMC debate
Latest Beige Book shows economic activity expanding at a steady pace, while Esther George and Charles Evans take different sides in the FOMC’s inflation debate
Plosser and Conti-Brown debate Fed governance reforms
Peter Conti-Brown proposes giving the Fed’s board of governors the power to appoint and remove Reserve Bank presidents; Charles Plosser rejects arguments in his response
Dallas Fed’s Fisher calls for FOMC reform
Richard Fisher unveils a range of proposals aimed at reducing the power of the New York Fed and Board of Governors in monetary policy decisions
FOMC forward guidance adds to 'market confusion', say leading US economists
The Fed lacks 'clearly formulated' normalisation strategy, paper to be published by Central Banking argues; calls for adherence to 'disciplined inflation targeting rule'
FOMC members too bullish on growth, researchers at San Francisco Fed say
‘Persistent overoptimism' about future growth since financial crisis may be due to overestimation of monetary policy efficacy following a balance-sheet recession, authors find
Upbeat Fed statement keeps mid-year rate hike alive
Federal Reserve keeps policy on hold but delivers a positive account of US economy, suggesting inflation will return to target over medium term despite oil price drop
Plosser: Regular monetary reports would force FOMC to ‘think more deeply’
Philadelphia Fed president Charles Plosser sets out why the Federal Reserve should publish a quarterly monetary policy report – part of which he and colleagues have already modelled
Fed earns $116bn on QE assets in 2014
Regional Fed banks transfer just under $100bn in earnings to US Treasury, a 27% increase on the previous year; operating expenses totalled $3.6bn
FOMC member says ‘very low' inflation provides ‘ample justification' for patience on rate hike
Eric Rosengren highlights ‘unusual set of conditions' as Fed looks to normalise policy stance; says low inflation globally may prompt an atypically gradual normalisation process
Fed signals rate hike despite drop in inflation
Minutes suggest Fed will tighten policy despite expecting inflation to remain below target for 'some time'; rate hike unlikely for 'at least the next couple of meetings'
Fed changes forward guidance
Janet Yellen says FOMC ‘can be patient' in normalising monetary policy, but says new language does not signal change in outlook; Fisher, Plosser and Kocherlakota dissent