Federal Reserve System
How Fed decisions impact share prices
The Federal Reserve's interest rate decisions impact equity prices around the globe. However, the impact varies considerably between firms. Research from the Fed uncovers several factors which account for these variations.
Regional Feds announce new chairmen
Three of the 12 regional Federal Reserves have named new chairmen for their boards of directors in 2009.
Fed not out of ammo, says SF's Yellen
The Federal Reserve still has the tools to stimulate the economy even with interest rates at next to zero, said Janet Yellen, the president of the San Francisco Fed.
Obama nominee underlines change at the Fed
The nomination of Daniel Tarullo, law professor at Georgetown University and regulation expert, to the Board of Governors of the Federal Reserve provides early evidence of the way the central bank is being reshaped in the aftermath of the financial…
Fed announces January start to MBS programme
The Federal Reserve on Tuesday announced that it will start the operations of its programme to purchase mortgage-backed securities (MBS) in early January.
Fed paper on subprime mortgages
This Federal Reserve working paper models the historical default and prepayment behaviour for subprime mortgages using data on securitised mortgages originated from 2000 to 2007.
GM finance arm gets TARP funding
The finance arm of General Motors, the embattled US automaker, has received financial support under the US Treasury's Troubled Assets Relief Programme (TARP) after gaining approval from the Federal Reserve to become a bank holding company.
Crisis calls for revision of LOLR role: economists
Central banks must broaden their remit as lenders of last resort in the wake of the crisis, two economists who advise central banks have said.
Fed further opens lending window
The Federal Reserve has announced a new lending facility that will allow an even wider range of institutions - including hedge funds - to access loans by the central bank.
San Fran's Yellen on lessons from Japan
"Clear and strong commitments about the future stance of policy" are important when policy rates approach zero and there is fear of deflation, noted Janet Yellen in an Economic Letter reflecting on lessons from Japan's lost decade.
Assets are better kept with SWFs
Countries with a large foreign asset base tend to establish sovereign wealth funds as central banks' portfolio diversification tends is limited, says a new paper from the San Francisco Federal Reserve.
How high is inflation? Depends how you ask
Seemingly small differences in how inflation is referred to in a survey can lead respondents to consider significantly different price concepts, says a paper from the New York Federal Reserve.
A new model for long-run risks
A paper from the Kansas City Federal Reserve devises a model long-run risks model where inflation risks and volatilities are in line with survey data.
Explaining female labour participation
This paper by the Federal Reserve Bank of Boston examines the reasons for changes in the participation of married woman in the US labour market.
Fed floats bond issuance
The Federal Reserve is considering issuing its own bonds as a means to absorb the liquidity with which it has flooded markets as well as for fundraising purposes.
Fed's Kroszner on restoring confidence in MBS
Comprehensive and standardised loan-level data covering the entire pool of loans backing mortgage-backed securities (MBS) was needed so that the underlying credit quality could be analysed more easily, said Randall Kroszner, the governor of the Federal…
Indian governor on reducing global imbalances
If easy, quick and unconditional international liquidity was provided during a crisis, then emerging economies may not need to insure themselves by foreign reserves accumulation, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
How to unblock the credit markets
Cutting interest rates is increasingly ineffective. Central banks need to create market-making windows, argues Ronald McKinnon
Three essential questions for reforming finance
Barack Obama should appoint a commission to investigate what went wrong and guard against quick fixes, says Eugene White
Shell shocked: American finance in crisis
A legislative overhaul is coming. Robert Litan says a renewed focus on market discipline and the consolidation of regulatory authority are the priorities
New tools for central bankers?
The financial crisis has provided an opportunity to test the usefulness of new and previously unused policy instruments, argues Christopher Ragan
Forum: Tackling asset-price bubbles
Central Banking asked a select panel of former central bankers and advisors if the current crisis calls for a reevaluation of the policy response to asset prices
Would-be investors scarred by banking crises
Systemic banking crises have a severe impact on behaviour, finds a new paper form the Chicago Federal Reserve.