Federal Reserve Bank of Boston
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’
Nothing magical about targeting 2%, Bernanke says
Former Fed chair calls for further research on ‘alternative intermediate targets’ for monetary policy during IMF panel; will work with hedge fund Citadel as adviser on range of topics
Boston Fed’s Rosengren flags key elements of successful QE
Eric Rosengren sets out the most successful design features from the Fed’s experience of quantitative easing and hints ‘other parts of the globe’ may have acted too late
Rosengren says cyber criminality could turn people to ‘less efficient' payment options
Boston Fed president says central banks ‘essential' to discussion on cyber security at Basel Committee conference in Cape Town
Productivity performance sparks uptick in US entrepreneurship, finds Boston Fed paper
‘Modest improvement' in 2012 and 2013 follows a 'significant decline' in firm creation after the financial crisis to the lowest level since 1977
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
Boston Fed paper examines stock price sensitivity to monetary policy
Research presents evidence from the Enron scandal that stock prices of financially constrained companies become less responsive to monetary policy shocks if financial frictions are present
Fischer keen to add financial stability to Fed mandate
Fed vice-chair Stanley Fischer praises progress with reforms in his first speech since becoming second in command; open to reforming the Financial Stability Oversight Council
Rosengren outlines exit options from ‘essential' unconventional monetary policy
Exit options could include using reverse repos to put a ‘floor' on short-term interest rates, or to raise the interest rate the Fed pays on excess reserves
Fed 'policy shocks' cause both dollar and foreign interest rates to fall, Boston Fed paper finds
Expansionary monetary policy shocks by the Federal Reserve leads to dollar depreciation, while similar 'unexpected expansionary announcements' by foreign central banks cause it to appreciate
Overburdened central banks may become ‘repoliticised’, says Orphanides
Former Central Bank of Cyprus governor warns overreliance on central banks may eventually ‘diminish and compromise’ their independence, in a paper published by the Boston Fed
Boston Fed president says unwinding QE could take ‘several years’
Rosengren said disappointing data and the possibility for ‘disruptions’ in US fiscal policy prompted him to vote for steady asset purchases; says monetary accommodation should be removed slowly
Rosengren paper tackles role of banks in monetary transmission
Boston Fed president presents evidence on the effectiveness of the bank lending channel and provides observations about likely consequences of changes associated with the financial crisis
Boston Fed paper flags need for research into debt dynamics in recovery period
Research into the relationship between debt and consumption to the household level is ‘limited’ and does not ‘directly speak’ to the United States' recent weak performance, says discussion paper
US households stick with favourite payment methods
According to a recent study, households use ‘one or at most two' of cash, cheque and card when paying the bills
US non-farm payroll stats strengthen case for more QE
Boston Fed president joins calls to continue QE programme as US employment recovery falters
Fed’s Tarullo presses regulators for speedy reforms
Federal Reserve governor Tarullo urges Basel Committee to implement ‘Sifi surcharge’ within a year; Boston Fed president Rosengren says surcharge alone not enough
Fed presidents back unemployment offensive
Minneapolis and Boston Fed presidents call for aggressive monetary policy to tackle lethargic unemployment rate
Boston Fed paper lauds survey data over rational assumptions for macro models
Research published by Federal Reserve Bank of Boston finds the performance of DSGE models is enhanced by introducing survey data on inflation, unemployment and interest rates
Racial equality boosted by deregulation in US, paper says
Banking sector policies that facilitated competition helped increase the black population’s relative wages in the US, but only in racially biased states
Boston Fed paper investigates uncertainty in interbank markets
Research examines role of uncertainty in causing the collapse of interbank lending markets; finds government intervention to provide information may help to restart lending
Regional Fed presidents express fears over economic recovery
Charles Evans and Eric Rosengren warn about struggling economic recovery; focus on employment figures as key indicator of persistent problems in the US
Boston Fed continues research into payments
Researcher Scott Schuh adds to 2010 research into payments; finds rising cost of debit cards reduces their use
Boston Fed paper evaluates impact of accounting standards on institutions
Boston Fed researcher finds that implementing fair-value accounting may not necessarily provide financial statement users with more transparent and useful reporting