Federal Reserve System
Fed researchers find little QE impact on emerging market capital flows
Discussion paper finds Fed’s quantitative easing has not had a statistically significant impact on net capital flows to emerging markets, although behaviour changed post-crisis
Fed’s Raskin warns of shortcomings in leverage ratio
Sarah Bloom Raskin says a leverage ratio can guard against the failings of risk-weighted capital requirements, but cautions that the ratio has issues of its own
Fischer gives high marks to Bernanke and Draghi
Outgoing Bank of Israel governor Stanley Fischer believes the world owes a great debt to Fed chairman Ben Bernanke and praises ECB president Mario Draghi; says Israel can live with side effects of QE
Bank of Israel’s outgoing chief, Stanley Fischer, on the challenges of central banking
Stanley Fischer believes his work as governor of the Bank of Israel is done. He tells Chris Jeffery about the reform process in Israel as well as the challenges facing the world economy and the IMF
Kansas City Fed article finds markets anticipated QE announcements
Article in the Federal Reserve Bank of Kansas City’s latest economic review says that markets foreshadowed changes in asset purchase programme; may have affected long-term interest rates
Fed’s Yellen moots higher capital requirements for US banks
Janet Yellen says Basel III capital requirements may not be enough to end the too-big-to-fail problem; sizes up risk in the shadow-banking sector
Volcker calls for end to inflation targets
Former Fed chairman tells New York audience the Fed must have the 'backbone' to exit QE before it is too late; says no need for a 'specific target or target zone' for inflation
Fed paper analyses impact of public views on FOMC forecasts
Working paper says FOMC forecasts are influenced by both internal and external views; analyses the weighting given by committee members to each
Fed research digs deeper into operation of QE
Working paper looks at the composition of investors selling assets in the Federal Reserve’s quantitative easing programmes, finding evidence for a ‘preferred habitat’ theory of transmission
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
Bernanke remains dovish in face of stability threats
Fed chairman says low interest rates are providing significant benefits to growth and heading off ‘incipient’ deflationary pressures; hints QE could be reduced soon, but only if data allow
BIS paper finds higher US bank taxes may have only moved stability risk
Research into higher taxes imposed on wholesale funding by US banks finds they did reduce reliance on short-term borrowing, but says risks may simply have been pushed into foreign banks
Wall Street hoping for Fed reprieve for derivatives desks
Investment banks fear they will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
Fed’s Raskin says fiscal policy is holding economy back
Member of board of governors expects fiscal policy to ‘significantly hinder’ growth this year and remain restrictive going forward, but predicts continued moderate recovery
Fed paper says macro-prudential policy is not a new idea
Research studies various macro-prudential policies employed in the past, seeking insights for contemporary policy-makers
Robert Pringle's Viewpoint: Watch what central bankers do, not what they say
Recent speeches by Ben Bernanke and Mark Carney signal a new phase in the development of central bank rhetoric. The big question is whether they preface a change in policy
Fed director says rest of world lagging behind on cross-border resolution
Michael Gibson says US has had its resolution authority in place for years, but slow progress in other jurisdictions is causing delays; FDIC chair says talks with G-Sib host countries are ongoing
Philadelphia Fed paper investigates price discovery
Study questions how government support can best help kick-start the process of price discovery in a frozen market
Inflation target may necessitate hasty QE exit, says Plosser
Philadelphia Fed president argues for pace of asset purchases to slow from next FOMC meeting; says accommodative monetary policy may need to be removed 'more aggressively' than some think
Fed paper investigates decline in US labour market mobility
Study identifies drop in interstate migration since 1980s; attributes fall to stronger internal labour markets rather than demographic or sociological factors
Bernanke outlines Fed's ‘intensified' monitoring of financial system
Focus is on Sifis, shadow banking, asset markets, and the non-financial sector, according to the chairman of the Federal Reserve
Central banks adopting social media at different paces, finds CBJ study
A new Central Banking journal study shows that institutions around the world are adopting very different approaches in their deployment of social media techniques
Communicating uncertainty in economic forecasts
The way central banks and economists communicate uncertainty in macroeconomic forecasts differs around the world. Charles Manski contrasts the approaches of the Federal Reserve and Bank of England
Booknotes: After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead
According to Alan Blinder's publisher, he has taken the time 'to think his way through to a truly comprehensive narrative of how the worst economic crisis in postwar American history happened'