Federal Reserve System
Fed’s Yellen dismisses monetary policy link to commodity market boom
Federal Reserve vice-chair Janet Yellen denies claims accommodative US monetary policy is exacerbating boom in commodity markets
NY Fed’s Dudley warns against uneven banking reform
New York Federal Reserve president William Dudley says focus on competitiveness in banking reform would ultimately leave countries open to huge tail risks
Fed’s Raskin calls for greater diversification of banks
Federal Reserve Board of Governors member Sarah Raskin says more diversified banking system will reduce risk of further crises
Consumers move back to cash payments: Boston Fed paper
Boston Federal Reserve study finds evidence of decline in credit and debit card usage and increase in cash payments during financial crisis
New York Fed auctions off first AIG-related mortgage bonds
New York Federal Reserve sells $1.3 billion of American International Group (AIG) mortgage securities in the first round of auctions
QE solution at zero bound: NY Fed paper
New York Federal Reserve paper co-authored by Brian Sack shows quantitative easing successfully eased monetary policy at the zero bound
FOMC debate length of QE programme
Federal Open Market Committee meeting minutes shows some members would like option to end Fed’s asset purchase programme early
New York Fed to set up working group on OTC reforms
New York Federal Reserve receives commitment from market participants to support strategic road map on reforms to over-the-counter derivatives markets
Bernanke pledges tough oversight of CCPs
Federal Reserve chairman Ben Bernanke says reforms to financial market infrastructure will help strengthen supervision of central counterparties
Fed chooses new chief operating officer
Atlanta businessman Richard Anderson will become chief operating officer of the Federal Reserve System later this month
US lawmaker responds to Greenspan attack on Dodd-Frank
Former chairman of the House Financial Services Committee Barney Frank answers Alan Greenspan criticism of Dodd-Frank; launches own attack on former Fed chairman
Uncertainty clouds US labour market: NY Fed’s Dudley
New York Federal Reserve president William Dudley says there are conflicting signals over state of US labour market
Philly Fed’s Plosser calls for explicit inflation target
Philadelphia Federal Reserve president Charles Plosser says adoption of explicit inflation target will help Fed retain credibility during normalisation of policy
Fed reveals details on emergency funding recipients
Federal Reserve releases information on banks’ discount window activity during crisis; ends 28 month-long dispute with Bloomberg
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Bullard calls for “last in, first out” approach to Fed exit strategy
St. Louis Federal Reserve president James Bullard says offloading assets from Fed's balance sheet before raising interest rates is his preferred exit strategy from accommodative monetary policy stance
Hoenig warns policy will mean "someone has to pay" in the future
Thomas Hoenig renews call for the unwinding of policies put in place during the financial crisis, urging the Fed to shrink holdings and raise rates to provide better long-term prospects for the US economy
Greenspan launches blistering attack on US financial regulations
Former chairman of the Fed claims the Dodd-Frank legislation does not meet “the test of our times”
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Atlanta Fed paper on evolution of US mobile payments
Atlanta Federal Reserve study says unique set of rules necessary for mobile payments industry to evolve in United States
Former Obama adviser Romer urges Fed to consider price-level targeting
Former chair of President Obama’s Council of Economic Advisers Christina Romer says adoption of price-level targets at Federal Reserve would aid communication with public over policy
Fed’s Duke: recession placed burden on households
Federal Reserve Board of Governors member Elizabeth Duke says recession placed significant pressure on households’ wealth
Fed’s arch hawk Hoenig to retire in the autumn
Hoenig reaches mandatory retirement age and will leave in October; selection committee established to ensure replacement is found in time to allow a smooth transition