Federal Reserve System
Fed writes rule to expand consumer protection
Federal Reserve proposes two rules to improve consumer protection, based on financial regulatory reform law; move part of broader rulemaking process that will turn to bank capital, leverage laws
QE2 hopes reflected in dollar, risk reversal trends: BIS
Bank for International Settlements’ December Quarterly Review charts effects of QE2 anticipation, eurozone sovereign debt woes, in fourth quarter
Rise in income tax can boost growth: Fed study
Federal Reserve research shows increase in capital-income tax can provide insurance against investment risk and raise overall welfare
Fed reviews use of monetary aggregates in policymaking
Federal Reserve study says use of monetary aggregates should be considered for monetary policy decision making
‘End the Fed’ author to lead congressional Fed oversight group
US congressman Ron Paul appointed chair of monetary policy subgroup in influential lower house financial committee; appointment could spark intense scrutiny of Federal Reserve
Electronic methods leading growth of cashless payments in the US, says Fed study
Federal Reserve study shows number of cashless payments has grown, with debit card, automated clearinghouse transactions leading the way
Atlanta Fed names new second in command
Retirement of Atlanta Federal Reserve first vice-president Patrick Barron sparks reshuffle in retail payments office
Boston Fed finds evidence of sticky wages
Boston Federal Reserve paper shows that wage adjustments in the United States are very infrequent
Credit card rewards boost spending: Chicago Fed
Chicago Federal Reserve study shows that credit card cash-back rewards can boost spending but effect on total consumption is relatively minor
QE3 possible if conditions warrant it, says Bernanke
Federal Reserve chairman Ben Bernanke says a further expansion of Treasury bill purchase programme is possible; stresses worries on unemployment
Kansas Fed’s Hoenig open to shorter lag in releasing FOMC transcripts
Kansas Federal Reserve president Thomas Hoenig says nothing inherently wrong in publishing rate-setter meeting transcripts with delay of less than five years
Fed audit sheds light on scale of deterioration in AIG vehicles
Federal Reserve publishes data illustrating the fall in asset value and quality in Maiden Lane II and III vehicles; Fed’s-eye view on crisis events revealed
Fed’s Yellen: QE2 could help emerging markets
Federal Reserve vice chair Janet Yellen makes case for currency appreciation in emerging markets; remarks come on the heels of emerging market criticism of QE2
Philly Fed on labour choices and consumption behaviour
Philadelphia Federal Reserve study shows households' consumption preference for labour is bell shaped
Taylor calls on Fed to focus on price stability, not employment
Economist John Taylor likens Federal Reserve’s quantitative easing programme to fiscal policy; says central bank should focus on single price stability mandate
Bernanke says Fed’s supervisory role creates synergies
Federal Reserve chairman Ben Bernanke says financial supervision at central banks provides benefits for macroeconomic management
St Louis Fed: central banks must plan credible QE exit
St Louis Federal Reserve study shows success of quantitative easing depends on central bank's ability to credibly plan for stimulus withdrawal
Shirakawa draws parallels with QE in Japan, US
Bank of Japan governor Masaaki Shirakawa says same aims underlie Japan's monetary easing scheme and Federal Reserve's asset purchase programme
Philly Fed explains inventory build up prior to crisis
Philadelphia Federal Reserve study explains why prices and trade volumes increase first before collapsing in the run up to a crisis
Fed officials mooted alternative policy frameworks
Federal Open Market Committee members discussed altering monetary policy communications and targets ahead of November meeting
Fed’s Lacker warns of elevated inflation expectations
Richmond Federal Reserve president Jeffrey Lacker says using monetary policy to address unemployment risks permanently elevating inflation expectations
The euro funding gap and its consequences
The crisis has highlighted that the euro is far from a true reserve currency. That has worrying implications, argue Annina Kaltenbrunner, Duncan Lindo, Juan Pablo Painceira and Alexis Stenfors
Bernanke: QE2 a misleading moniker
Federal Reserve chairman Ben Bernanke says $600 billion Treasury purchase scheme not officially quantitative easing
HKMA, PBoC react to QE2
Hong Kong Monetary Authority and People’s Bank of China counter Fed’s quantitative easing programme with regulatory and monetary policy measures