Federal Reserve System

High demand for longer-term Fed funding

The results of the Federal Reserve's first Term Auction Facility (TAF) operation to offer 84-day credit highlight the banking sector's demand for longer-term financing.

US inflation and unemployment to rise: poll

US economic growth in 2008 will be slower than in 2007, with inflation staying high and unemployment rising, according to a survey of participants at the Chicago Fed's annual Automotive Outlook Symposium.

New York Fed names new IT systems head

William Christie, the director of information systems at Commerce Bank, will join the New York Federal Reserve as an executive vice-president and head of the automation and system services group.

Bankruptcy delays foreclosure

Filing for personal bankruptcy adds a little over a year to a foreclosure process, finds a new paper from the Philadelphia Federal Reserve.

Corrigan report calls for risk overhaul

A study group headed by Gerry Corrigan, a former New York Fed chief, has urged all major financial institutions to make wide-ranging and far-reaching changes to the way they handle risk.

Fed's Warsh: we would take covered bonds

Highly rated, high-quality covered bonds would generally fall within the range of collateral acceptable at the Federal Reserve's discount window, said Kevin Warsh, a governor at the Federal Reserve Board.

Philly Fed payments VP wins promotion

Arun Jain, a vice president at the Philadelphia Federal Reserve's retail payments department, will become a senior vice president after nearly 30 years of working within the Fed system.

Obama praises Bernanke

Barack Obama, the Democratic candidate for the US presidency, has commended Ben Bernanke, the chairman of the Federal Reserve, for his response to the recent economic upheaval.

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