Federal Reserve System
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'
Booknotes: The Federal Reserve and the Financial Crisis
This volume is based on the transcripts of four lectures from a series delivered by the chairman of the Federal Reserve Board at George Washington University in the spring of 2012
Booknotes: Bull By the Horns: Fighting to Save Main Street from Wall Street and Wall Street from itself
This is a great book with a clear message: no more bailing out of too-big-too-fail banks.
Fed’s Tarullo says wholesale funding is the most important gap in regulation
Fed governor warns regulation does not yet adequately address vulnerabilities in the financial system, citing wholesale funding and ending too-big-to-fail as particular problems
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’
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules; Germans also weigh in
Fed to release new $100 bill in October after three-year delay
New $100 bill with new security features is finally ready to enter circulation, after 'creasing' issues caused delays in 2011
Barnier takes Bernanke to task over foreign bank rules
Letter from European commissioner to Fed chief says proposed rules for foreign banks put global efforts at regulatory harmony in jeopardy and could spark ‘protectionist reaction’
Fed’s Stein backs ‘committed liquidity facility’ as supplement to Basel LCR
Federal Reserve governor says facility approved for use in Australia could be a good way of maintaining liquidity during crisis and imposing a ‘pollution tax’ on illiquid banks
Fed’s Raskin assesses impact of inequality on monetary policy
Governor Sarah Bloom Raskin says inequality in US could affect transmission of monetary policy to real economy; predicts ‘increasingly potent’ policy as house prices rise
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’s Yellen sees little evidence of stability danger from easy policy
Janet Yellen defends accommodative stance of US monetary policy; says there is no ‘pervasive evidence’ that policies are causing overheating
Fed demands more detailed 'living wills'
Federal Reserve and FDIC request additional information on risks that could derail resolution plans for largest bank holding companies, including issues of international co-operation
Central bank remits have little impact on policy
Bank of England MPC member says the weight central banks ascribe to output and employment makes little difference to the monetary policy they follow
Central banks 'getting away with murder', says currency investor
Central banks are pursuing the wrong policies and will find it difficult to know when to tighten monetary policy, says Axel Merk
Plosser: Fed should cut asset purchases now
Philadelphia Fed president says there has been ‘substantial improvement’ in US economy and labour market; sees scope to taper asset purchases now and end programme altogether in 2013
IMF annual report says asset bubbles among risks of ‘MP-plus'
IMF warns of risk associated with loose monetary policy in the world's biggest economies, but says stance should remain 'very accommodative until recovery is well established'
Disjointed regulation could spell end of global banking era
Report says global banks must move faster with reform if their global operations are to weather the 'balkanisation' of financial markets caused by mismatching regulation between jurisdictions
FOMC members saw QE continuing ‘through midyear’ at March meeting
Participants at the FOMC’s last meeting broadly agreed to continue QE at existing pace ‘through midyear’ but failed to reach a consensus on when to slow asset purchases