Federal Reserve System
IMF: post-Volcker monetary policy effective
Fund study find monetary policy has had just as much impact on output in the United States post-Volcker
UK doesn’t need more QE: former MPC members
Sir John Gieve, DeAnne Julius and Rachel Lomax say Bank should hold on launch of QE2; Gieve flags asymmetric bias towards looser policy
St Louis Fed says TAF announcement raised risk premiums
St Louis Federal Reserve study shows announcement of Fed’s Term Auction Facility unintentionally caused market participants to revise upward their expectations of seriousness of financial crisis
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
Fed backs down in Supreme Court battle with Bloomberg
Federal Reserve drops appeal against ruling forcing it to reveal names and details of banks that borrowed in crisis; move draws Fed’s involvement in two-year long battle to a close
RBI looks at crisis impact on central banks’ balance sheets
Reserve Bank of India study shows financial crisis led to dramatic change in composition of central bank balance sheets
Fed and Equens open transatlantic payment channel
Federal Reserve-operated ACH and Dutch-German payments processor connect US to 22 countries in Europe for low-value payments in dollars, euros and sterling
Federal Reserve – Beige Book (October 2010)
Reports from twelve districts identify continued weakness in housing market recovery
NY Fed’s Dudley explains weakness of economic recovery
New York Federal Reserve president William Dudley says recovery depends on housing and consumption boost
Minneapolis Fed’s Kocherlakota: QE exposes taxpayers to risk
Minneapolis Federal Reserve president Narayana Kocherlakota discusses negative impact of quantitative easing on taxpayers
Atlanta Fed’s Lockhart favours more explicit inflation target
Atlanta Federal Reserve president Dennis Lockhart says more explicit target will better anchor inflation expectations
Philly Fed queries merits of payday loans
Philadelphia Federal Reserve study discusses costs and benefits of payday loans
Philly Fed promotes Prichard to first vice-president
Philadelphia Fed appoints Blake Prichard to succeed William Stone Jr as first vice president and chief operating officer at central bank
The Fed is being asked to do too much
Marcelle Arak and Sheila Tschinkel argue that more outright purchases of US Treasuries by the Federal Reserve will do little to stimulate US growth
Bernanke hints at further round of QE
Federal Reserve chairman Ben Bernanke says Fed is prepared for further stimulus
FOMC minutes discuss QE options
Federal Open Market Committee meeting’s minutes discuss possibility of further investment in long-term Treasury securities
NY Fed’s Dudley backs Basel III
New York Federal Reserve president William Dudley says Basel III will capture risk better than pre-crisis standards
G30 unveils macroprudential manual
Group of Thirty recommends dual approach to macroprudential policy; says combination of fixed and flexible tools will equip supervisors to address systemic risks
The dangers of Bernanke’s calls for change
Fed chairman Ben Bernanke’s calls for more research into areas of economics underexplored by central bankers is commendable, but translating this into policy has its risks, writes Claire Jones
Fed’s Yellen: macroprudential policy must balance rules and discretion
Federal Reserve vice chair Janet Yellen says macroprudential supervisors should be guided by fixed rules, but have discretionary capacity to surprise firms
Diamond, Mortensen, Pissarides win Nobel Prize
Peter Diamond, Dale Mortensen and Christopher Pissarides share Nobel Prize in economic sciences for work on labour market search frictions
Shirakawa flags limits of monetary policy
Bank of Japan governor says loose monetary policy is a necessary condition for recovery, but its efficacy is limited and may have unintended consequences
St Louis Fed: forward rates provide investors little advantage
St Louis Federal Reserve study says informational value of longer term forward rates provides no additional economic benefits
Philly Fed: school failure insurance reduces dropout rates
Philadelphia Federal Reserve study says introduction of insurance against college failure risk could increase retention rate