Federal Reserve System
Inflation targeting: a child of our time?
Starting in 1989 inflation targeting has come of age. But does it have the durability to withstand severe economic and financial shocks, or was it simply a child of its time that cannot mature?
NY Fed paper discusses budget deficit impact on output
Federal Reserve Bank of New York staff paper finds running budget deficits can be either expansionary or contractionary for output, depending on how deficits interact with expectations about the long run
Shirakawa compares Bank of Japan’s inflation goal to Fed's
Masaaki Shirakawa says Federal Reserve and Bank of Japan new inflation goals are "basically the same"
FOMC minutes show split on bond purchases
Minutes from latest Federal Open Market Committee meeting shows board members disagreed over introducing another bond-buying programme to boost the economy
Fed official reports on success of dollar swap lines
Steven Kamin, director of the Division of International Finance at the Fed, tells Senate committee currency swap lines have helped ease dollar funding market; stresses agreements are risk-free
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Fed’s Plosser warns against ‘accelerationist’ policy
President of the Federal Reserve Bank of Philadelphia says approach that calls for monetary policy to do more to get to objectives faster must be avoided
SF Fed’s Williams supports buying-up mortgage-backed securities
Federal Reserve Bank of San Francisco president John Williams says restarting the Fed’s programme of purchasing mortgage-backed securities is the best way to boost the US economy
The Fed’s flawed PCE inflation targeting regime
The Fed’s move to adopt inflation targeting (IT) was long expected. But economists Peter Warburton and Joanna Davies say the US central bank will be targeting inflation on its own terms
Tri-party repo taskforce to disband without delivering key reform
The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes
Inflation-targeting central banks should be dissuaded from dual mandate, says St Louis Fed paper
St Louis Federal Reserve study says how Federal Reserve should respond to aggregate supply shocks is unclear if it is to pursue inflation targeting under a dual mandate
Dominican Republic confident in new inflation target; holds rates
Central Bank of the Dominican Republic leaves rates unchanged at first meeting since introducing a new inflation targeting framework; says it will meet 5.5% inflation target by the end of 2012
Bernanke fears serious economic consequences from burgeoning deficit
Federal Reserve chairman Ben Bernanke warned that if the US budget was not brought under control soon, policymakers may not be able to respond to future economic shocks
Plosser bemoans 'confusion' over Fed communications
Federal Reserve Bank of Philadelphia president Charles Plosser says decision to set time frame for when rates will remain exceptionally low had created confusion over Fed's policy statement
FOIA request reveals financial holdings of Fed presidents
Regional Federal Reserve banks disclose financial records of presidents; documents show New York Fed’s William Dudley required temporary waiver for holdings in AIG and General Electric
NY Fed paper sheds light on causal determinants of inflation expectations
Federal Reserve Bank of New York study says consumers may be revising their inflation expectations in response to inaccurate information
Bernanke to give student lectures
Chairman of the Federal Reserve will deliver a series of lectures to university students in the US
Fed communication overhaul reveals split in rate forecasts
Federal Reserve survey of individual policy-makers’ interest rate expectations shows five-year split on when to make first federal funds rate rise; Fed falls short of inflation target
Fed reveals design of new interest rate projections
Federal Reserve releases templates to be used in next Summary of Economic Projections (SEP) to project participants' views of the appropriate path for monetary policy
Fed’s Tarullo identifies supervisory difficulties in applying Volcker rule
Federal Reserve board member Daniel Tarullo says regulators were finding it difficult to distinguish proprietary trading from market-making activities
Robert Pringle's Viewpoint: Policy-makers in thrall to group thinking
Philipp Hildebrand’s resignation has renewed fears about market practitioners working in central banks. But FOMC minutes from 2006 reveal a deeper problem – placing too much reliance on economists
Former contractor charged for hacking New York Fed files
Computer programmer at Federal Reserve Bank of New York arrested for stealing proprietary source code used to track the US government’s finances; code is estimated to be worth $9.5 million
Risk managers complain about Fed stress test workload
Twelve new banks are included in this year's US stress test, and some institutions are unhappy about the extra work