Federal Reserve System
Fed's Mishkin makes his point on inflation
In one of his strongest advocacies of inflation targeting since joining the Federal Reserve in 2006, Frederic Mishkin argued that countries should adopt a specific point objective for price stability rather than having a target range.
Economy not policy accounts for differences: King
The marked contrast in the responses of the Federal Reserve, the Bank of England and the European Central Bank to the credit crunch is down to divergences in the economic conditions facing each central bank rather than policy stances, Mervyn King, the…
Costs rise for dollar loans despite $50bn auction
The Federal Reserve's latest Term Auction Facility operation failed to quell rising interbank tensions as money-market rates for one-month dollar loans climbed on Tuesday 25 March.
Research deputy to replace Poole at St Louis Fed
James Bullard, the deputy director of research for monetary analysis at the St Louis Federal Reserve, will replace William Poole as the president of the central bank.
Money matters in the US and euro area
A new paper from the Bank of Spain provides structural estimates for money and the natural rate of interest for the United States and the euro area.
Bank's extra cash to stay in system until April
The Bank of England said on Thursday 20 March that it would carry over the emergency £5 billion ($10 billion) injection made on Monday until just before its next rate-setting meeting.
Weaknesses prevail: Philadelphia Fed survey
The latest edition of the Philadelphia Federal Reserve's influential Business Outlook Survey shows that the region's manufacturing sector is continuing to experience weaknesses.
Private-sector wellbeing impacted by job cuts
Public servants are less sensitive to rises in unemployment than workers in the private sector, research published by the Boston Federal Reserve finds.
Fed opts for 75 basis-point cut
The Federal Open Market Committee (FOMC) on Wednesday 18 March voted to slash rates by three quarters of a percentage point to 2.25%.
Fed works over weekend to counter market stress
The Federal Reserve took its fourth emergency action in ten days on Sunday 16 March, cutting the rate at which it offers discount window funds and attempting to boost trading in securitisation markets.
DSK praises central banks
The European Central Bank (ECB) and the US Federal Reserve received plaudits from Dominique Strauss-Kahn, the managing director of the International Monetary Fund, on Monday 17 March.
Fed funds Bear Stearns on liquidity fears
The Federal Reserve on Friday 14 March agreed to provide emergency funding to Bear Stearns, a troubled investment bank.
Fed issues new $5 bill
The first of the Federal Reserve's redesigned $5 bills was used to buy a collection of former President Abraham Lincoln's speeches.
Central bankers responsible for lower inflation
Monetary policy credibility accounts for why inflation appears generally to have become less persistent, said Janet Yellen, the president of the San Francisco Federal Reserve.
Markets rise on back of joint action
Global equity markets have surged following five of the world's most powerful central banks' announcement of their latest coordinated initiative on Tuesday.
Friedman and Taylor held similar views
The differences between the way in which Milton Friedman and John Taylor view the way the economy works are small are small, research published by the St Louis Federal Reserve notes.
Central banks announce second joint effort
The Federal Reserve will accept banks' mortgage-backed securities as part of a raft of liquidity measures announced by five of the world's most powerful monetary authorities on Tuesday 11 March.
Sound risk management essential: Fed's Kroszner
The current financial market turbulence underscores the importance of getting the fundamentals of sound risk management right and being ever vigilant about their consistent application, execution, and improvement in light of new data and experiences,…
Research indicates racial bias in lending
Issuers are providing less credit to consumers in Black neighbourhoods than those living in predominantly white areas with similar credit scores, research published by the Boston Federal Reserve finds.
Rapid deterioration led Fed to go it alone: Kohn
The deterioration in money markets was so rapid that the Federal Reserve last Friday did not have time to coordinate a joint announcement of liquidity measures with other central banks in the same way as last December and which had such a favourable…
Former NY Fed director to succeed White at BIS
Stephen Cecchetti, a former director of research at the New York Federal Reserve, is the new head of the Bank for International Settlements' (BIS) monetary and economics department.
Fed's Hoenig notes monetary policy's limits
Thomas Hoenig, the president of the Kansas City Federal Reserve, said he has been struck by the heavy burden placed on monetary policy to cope with the current crisis and its potential spillover effects.
Fed to add funds as liquidity pressures re-emerge
The Federal Reserve is set to pledge up to $140 billion in extra funds in a bid to soothe the third wave of rising money market tensions since August.
Inflation expectations up: Fed's Geithner
Timothy Geithner, the president of the New York Federal Reserve, has acknowledged that inflation expectations have risen in the US.