Federal Reserve System
On the record: Paul Volcker
The former Fed chairman tells Congress that the central bank must take the leading role in regulating the financial system
Fed remains guarded on rate hike
Federal Open Market Committee keeps key rate and tone unchanged; caps agency debt purchase programme at $175 billion
Too-big-to-fail matters for macroprudence
Federal Reserve Board research looks at the dynamics of spillover effects of the global financial crisis to Asia and Pacific region
Geithner’s scorecard for the resolution plan
Timothy Geithner, US Treasury Secretary, sets out five indicators to measure the success of the resolution plan
Four steps to improve international cooperation: Fed’s Kohn
Fed vice-chairman Donald Kohn calls for a more coordinated global response to the crisis
Fed looks to curb risk with wage rules
Federal Reserve says proposals aimed at ensuring wages will not undermine safety and soundness of banks
Bernanke outlines regulatory agenda
Fed chairman says comprehensive reform requires action from Congress
Plosser attacks Fed liquidity support
Philadelphia Federal Reserve president says central bank has gone “far beyond” Bagehot’s lender-of-last-resort tenet, should accept nothing but Treasuries
Fed names new supervision head
Fed names Patrick Parkinson as Roger Cole’s replacement
FOMC sees slack subduing inflation
Federal Open Market Committee says output gap will persist
Credit-card discrimination hard to prove
Federal Reserve Board finds no evidence of credit-card companies discriminating against minorities.
Communications research key: Fed’s Kohn
Fed vice chairman reviews development of monetary policy literature, pointing out successes and areas where further work is needed
Bernanke sets out tightening strategy
Fed Chairman outlines measures that can be taken to ease inflationary pressure
Securitisation not to blame for the crisis: Fed’s Tarullo
Federal Reserve’s Daniel Tarullo also reiterates calls for an oversight council
Fed’s Lacker: economics key for financial education
Richmond Federal Reserve’s Jeffrey Lacker says financial education programs should include economics
Tips are good inflation hedge
Boston Federal Reserve says Tips hedge well against inflation risk
Traders’ inventories affect market liquidity
Philadelphia Federal Reserve investigates how holdings of mortgages will affect traders’ propensity to buy and sell further
Bernanke calls for extended supervisory reach
Ben Bernanke’s five-point plan for regulatory reform includes call to share accountability for systemic risk with other regulators
Minneapolis Fed names macroeconomist as president
The Federal Reserve Bank of Minneapolis appoints academic Narayana Kocherlakota as its new president
Fed will be ready for exit: Kohn
Donald Kohn, vice chairman of the Federal Reserve, says the central bank will be fully prepared to tighten expansionary policy
Fed outlines tougher cards regime
Federal Reserve proposes changes to Regulation Z to protect consumers
Fed will fail to land systemic risk role, Zoellick predicts
World Bank’s Robert Zoellick says Fed will not get systemic risk role, moots Treasury. Sees renminbi, euro strengthen reserve status
Volcker: narrower role would make Fed too detached
Paul Volcker says removing supervision from Fed’s ambit would risk turning central bank into “academic seminar”
Fed audit would damage economy: counsel Alvarez
Federal Reserve lawyer defends central bank against lawmakers’ attempts to scrutinise its monetary operations