Federal Reserve System
SF Fed's Yellen: US in recession
The US economy appears to be in recession as every major part of the economy has been hit by the financial shock, said Janet Yellen, the president of the San Francisco Federal Reserve.
A better approach to prediction
The Philadelphia Federal Reserve has developed what it believes to be a superior approach to forecasting a range of macroeconomic variables.
Fed picks Pimco to run commercial paper facility
The Federal Reserve has picked Pimco, a bond fund, to manage the assets of its Commercial Paper Funding Facility, which accepts unsecured debt notes direct from the issuer.
US offers $250bn in capital, markets shrug
Washington's unveiling of a $250 billion plan to recapitalise its banking sector did little to soothe equity-market sentiment on Tuesday, with gains at the opening bell proving short-lived.
Fed offers more support to world's biggest insurer
The Federal Reserve has loaned American International Group (AIG), the world's biggest insurer, an additional $37.8 billion, taking the size of beleaguered company's borrowing facility with the central bank up to $122.8 billion.
Schumpeter superior to Smith
Schumpeter's creative destruction is better for understanding the nature of the US economy than Smith's invisible hand and perfect competition, according to new research from the Philadelphia Federal Reserve.
Fed to accept commercial paper for funds
The Federal Reserve on Tuesday adopted a new strategy to placate financial market tensions, saying that it would swap funds for unsecured commercial paper direct from the issuer.
Ex-Fed's Volcker demands regulatory overhaul
Paul Volcker, a former chairman of the Federal Reserve, has urged regulators to enhance supervision on both a national and international level in the aftermath of the global turmoil.
Fed to offer further funds, pay interest
The Federal Reserve on Monday announced further measures to shore up ailing money markets, pledging to inject $600 billion in longer-term funds.
Financial instability hurts corporate
Financial stability is connected to corporate investment and deterioration in the health of the financial sector can restrain macroeconomic performance, finds a new study from the Federal Reserve.
Fed deserves praise for online efforts
As the international financial system totters, the Federal Reserve banks are making full use of their websites to keep the public informed, says David Bowen, a senior consultant at Bowen Craggs, web advisers.
Atlanta's Lockhart: financial sector matters
A working financial sector matters to us all, said Dennis Lockhart, the president of the Atlanta Federal Reserve.
Plan must pass to stem panic: ex-Fed's Posen
The Treasury's plan to buy distressed assets was poorly presented to politicians and US taxpayers. But it will likely work and should be passed, says Adam Posen, a Peterson Institute deputy director
Riksbank striving to inform public on crunch
The Riksbank is providing and updating a list of questions and answers on the financial turmoil.
HKMA offers emergency liquidity
The Hong Kong Monetary Authority (HKMA) on Tuesday announced five steps to counter paralysis in the territory's money markets.
Investing in beautification pays off
A beautiful city will attract more highly-educated individuals and experience faster house-price growth, finds a new paper from the Philadelphia Federal Reserve.
Central banks act as busts prompt panic
Central banks pledged to inject an additional $330 billion in dollar funds on Monday after interbank markets froze following a wave of bank failures.
Citigroup rescues teetering Wachovia
US regulators managed to avert another bank failure on Monday, persuading Citigroup, the world's biggest bank, to rescue Wachovia, another large US lender, which looked likely to collapse in the coming days.
Central banks pledge 7-day funds as plan stalls
Central banks in major financial markets have offered week-long loans in a bid to abate money-market tensions that have further heightened as talks on the US Treasury's plan to buy troubled assets have stalled.
HKMA to probe Lehman complaints
The Hong Kong Monetary Authority (HKMA) is investigating complaints that banks have mis-sold investment products related to Lehman Brothers.
Fed's Fisher still warning on inflation
Richard Fisher, the president of the Dallas Federal Reserve who is considered the Federal Open Market Committee's (FOMC) most hawkish member, has signalled that he would still not back a rate cut.
Nordic banks and RBA join Fed swap club
The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.
Main Street feeling financial turmoil: Bernanke
Painting a bleak picture of the American economic landscape, Ben Bernanke, the chairman of the Federal Reserve, warned US lawmakers on Wednesday that events on Wall Street were beginning to impact the real economy.
Goldmans, MS abandon model, seek Fed shelter
And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.