Federal Reserve System
Fed paper details highs and lows in Spanish economic activity
Researchers point to change between 2007 and 2011 as one of the worst in Spanish economic history
Fed picks new head for banking supervision division
Michael Gibson takes over from Patrick Parkinson on January 1; Parkinson leaves Fed after 30 years of service
Capital flows reversed in India post-QE2: RBI paper
Reserve Bank of India study shows capital inflows into India declined after the US Federal Reserve’s second quantitative easing programme
Minneapolis Fed’s Kocherlakota warns FOMC against inflation drift
Minneapolis Federal Reserve president Narayana Kocherlakota says Federal Reserve should formulate a public contingency plan to avoid tolerance of high inflation
Major central banks take co-ordinated action
Central banks reduce US overnight index swap rate from 100 basis points to 50 basis points above market rate to flood financial system with dollar liquidity
Housing market reforms can boost recovery: Fed’s Yellen
Federal Reserve vice-chair Janet Yellen says there is good case for government to address the dysfunctional US housing market
Credit expansions strengthen recessionary trends: SF Fed paper
San Francisco Federal Reserve study finds credit intensity of the boom periods matter for path of recession
FOMC disagrees over monetary policy strategy
Federal Open Market Committee discusses alternative monetary policy strategies; committee disagrees over setting a “longer-run inflation goal”
SF Fed says mortgage market reforms can aid monetary policy
San Francisco Federal Reserve president John Williams says fiscal policy must work in tandem with monetary policy to stimulate US economy
Chicago Fed paper explores determinants of asset-price bubbles
Chicago Federal Reserve study says theoretical models that observe relative price deviations from fundamentals are effective in predicting boom-bust cycles
Fed’s Yellen warns authorities of new financial risks
Federal Reserve vice-chair Janet Yellen says authorities must be attentive to risks created by new financial products
Video: New York Fed’s Marc Saidenberg denies US go-slow on Basel II implementation
New York Fed senior vice-president Marc Saidenberg says US is introducing Basel II at a similar pace to international peers and is also committed to timely implementation of Basel III
Negative equity has large impact on household mobility: NY Fed paper
New York Federal Reserve study says households in negative equity are far less likely to relocate than most homeowners
Bernanke emphasises importance of small business in US recovery
Federal Reserve chairman Ben Bernanke says small businesses play a key role in providing job opportunities and economic recoveries
Plosser pushes for adoption of explicit inflation target
Philadelphia Federal Reserve president Charles Plosser calls for Fed to introduce explicit inflation-targeting framework
The dangerous scramble for liquidity
William Allen of the Cass Business School in London warns there is a danger that capital requirement measures intended to make the financial system safer may do more harm than good
Bernanke faces tough questions at press conference
Federal Reserve chairman tackles queries on monetary policy impact, Europe and political pressure; only recently started holding post-FOMC press conferences
High inflation risks further trend drift: Fed paper
Federal Reserve study shows above-average inflation levels have led to periods of uncertainty over trend inflation
Skilled graduates key driver for regional growth: NY Fed paper
New York Federal Reserve study says producing skilled graduates contributes to regional economic success
Fed’s Duke explains link between personal finance and national economy
Elizabeth Duke discusses how improving individual financial stability would ultimately build a stronger economy in the US
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives may have benefited from their positions on regional Federal Reserve boards
Fed’s Beige Book reports on fragile state of US economy
Federal Reserve Beige Book reports restrained employment conditions, as outlook for growth continues to be marred by uncertainty
Bernanke muses on future of inflation targeting
Fed chairman sees place for inflation targeting in monetary policy frameworks of the future; hints at further transparency in decision-making
St Louis Fed’s Bullard discusses importance of revised data in policy-making
St Louis Federal Reserve president James Bullard says large revisions to key economic estimates can pose challenges to policymakers