Federal Open Market Committee (FOMC)
Fed minutes hint at end to era of expansion
A number of participants would like to adjust asset purchases downwards as early as next month, pending positive economic data
Fed opens door to further asset purchases
The Federal Reserve resists recent talk of an exit from quantitative easing by emphasising that it could yet increase asset purchases; accuses fiscal policy of ‘restraining economic growth’
Kocherlakota warns of consequences of ‘mandate-consistent' lower rates
Minneapolis Fed president highlights risks accompanying persistent low rates, but argues rates must go lower still to be consistent with dual mandate
Fed working paper measures FOMC comms effect against theory of UIP
Paper finds 'little evidence' for a changed relationship between FOMC announcements and US interest rates since the 'onset of the zero lower bound'
FOMC members 'undecided' over further asset purchases
Federal Open Market Committee displays more uncertainty over when to halt asset purchase programme; wary of buying more securities but scared of ending purchases too soon
Philadelphia Fed president wants forward guidance in ‘normal times’
Charles Plosser says helping the public understand how the Fed sets policy in normal times will make forward guidance at the zero lower bound more effective
Yellen says forward guidance is ‘good news for workers’
Fed vice-chair says unemployment is predominantly cyclical and can be allayed by increasing aggregate demand; forward guidance will help Fed boost demand without compromising price stability
Fed holds rates and maintains asset purchases in first vote since membership shake-up
Esther George, president of the Federal Reserve Bank of Kansas City, votes against QE in her first meeting
Belgian paper finds Fed policy influenced by Taylor rule
Working paper presents evidence that Federal Reserve policy-makers are influenced by the Taylor rule when making monetary policy decisions
Fed could stop asset purchases ‘well before end of 2013’
FOMC members express concerns over costs of quantitative easing as the Fed’s balance sheet expands; most members see purchases ending within a year
Fed to extend QE by $45bn per month
Federal Reserve gives equity markets a lift by unveiling an additional $45 billion of quantitative easing; adopts numerical thresholds
Fed could extend asset purchases, minutes show
Some FOMC members say additional asset purchases likely to be needed next year to generate sustained improvement in labour market
Yellen wants more transparency and a change in forward guidance
Federal Reserve vice-chair Janet Yellen calls for more transparency and supports replacing the calendar date in the Fed’s forward guidance with economic conditions needed to lift the funds rate
QE sliced unemployment by 1.5 points, says Fed’s Williams
San Francisco Fed president says Fed's forward guidance on rates has narrowed Treasury yields by 15-20 basis points, about the same amount as QE2; asset purchases have cut unemployment by 1.5 points
Fed holds fire on further easing
Federal Open Market Committee votes to hold federal funds rate and maintain current scale of asset purchases; concerns persist over labour market conditions, raising possibility of further stimulus
Lacker explains dissenting votes
Jeffrey Lacker, president of the Richmond Fed, explains his dissenting votes during past six FOMC meetings; warns of misinterpretation
New rate-setting communication deliberated by Fed
Minutes from the FOMC’s September meeting show consideration of a switch in the way interest rate decisions are disclosed as well as motivation behind QE3
Fed paper finds ‘surprising’ impact of monetary policy on long-term real rates
Working paper suggests reasons for the unexpected effect of short-term monetary policy on long-term real rates; argues this is driven by demand from ‘yield-oriented’ investors
Fed policy-makers hint at further stimulus
Minutes of the latest Federal Open Market Committee meeting show a number of members discussing further stimulus possibilities; moderate growth expected but also heightened risk
Bernanke says Fed ready for QE3 if necessary
Fed chairman explains FOMC decision to maintain rates and extend Operation Twist; says Fed is ready to make more asset purchases if necessary
Fed extends Operation Twist to end of 2012
Federal Open Market Committee to continue programme to lengthen average maturity of its holdings of securities; target range for federal funds rate maintained at 0-0.25%
Central bankers need to address problem of ‘groupthink’, says Shiller
Members of central bank committees need to dig deep to assert their ‘moral commitment’ and actively avoid falling into the trap of ‘groupthink’ when making decisions, says economist Robert Shiller
Bernanke places onus on US government to act
Bernanke calls on US Congress to act on fiscal policy; growth forecasts upgraded in latest Fed economic projections