Federal Reserve System
Sarb deputy sees opportunity for reserve managers in Fed hike
Daniel Mminele encourages reserve managers to focus on the ‘investment horizon’ to take advantage of higher yields in the wake of Fed action
Yellen signals growing confidence ahead of Fed decision
Fed chair expects some key headwinds to inflation to diminish next year; continued improvements in labour market and stable expectations help ‘bolster’ her confidence in a return to target
‘Gradual and low’ may be new normal for Fed, Brainard says
Lael Brainard says lower neutral interest rates and stubborn inflation make it likely the federal funds rate will need to be tightened ‘more gradually and to a lower level’ than in the past
Fed to encourage supervisory staff to air divergent views
Federal Reserve will develop practices encouraging staff to exchange and respond to divergent views in 2016; New York Fed and Richmond Fed boost supervisory resources following review
Policy-makers must be prepared to handle Fed rate rise, Fischer says
Emerging market central bankers must be sure US rate rises do not have ‘major consequences’, Fed vice-chairman says; shift to more consumer-led Asian growth may benefit other economies
Trinidad and Tobago aims to stay a step ahead of the Fed
Jwala Rambarran tells Central Banking the central bank must remain ‘ahead of the curve’ and ensure a ‘strong enough’ rate differential between assets denominated in local and US currency
Shift in FOMC language intended to show December hike ‘may well become appropriate’
Minutes from October meeting reveal thinking behind change in language; a ‘couple’ of members raised concerns the change could be misinterpreted as a stronger signal than it was
Dallas Fed’s Kaplan expects policy to ‘remain accommodative for some time’
Federal Reserve Bank of Dallas president says FOMC was ‘prudent’ to wait for more data in past few months; it is ‘probable’ rates will be lifted gradually
Turkish paper finds Fed staff forecasts superior to rivals
Working paper finds forecasts in the ‘Greenbook’ were consistently more accurate than their commercial equivalents between 1974 and 2009
Dudley leads Fed speeches as December meeting looms
William Dudley says conditions necessary for rate hike ‘could soon be satisfied’ but notes concerns about inflation outlook; Evans, Fischer and Lacker also speak on US outlook
Neel Kashkari to head Minneapolis Fed from 2016
Federal Reserve Bank of Minneapolis reveals Neel Kashkari will succeed Narayana Kocherlakota as president; past experience includes oversight of Troubled Asset Relief Program
Sarb’s Mminele fears a ‘lengthening drought’ in emerging market capital flows
Sarb deputy warns emerging market nations must maintain “utmost vigilance” as they are buffeted by the effects of divergent monetary policies and fears about the state of the Chinese economy
Lawmakers eye Fed surplus funds as source of cash
Late amendment to ‘highway bill’ sees the House of Representatives vote to raid the reserve banks’ surplus funds instead of cutting the dividend paid to member banks
Fischer defends Fed independence
Attempts to make the FOMC adopt a policy rule and 'audit’ its decisions would restrict the Fed’s independence without generating much benefit, Stanley Fischer argues
Yellen would ‘welcome’ vice-chair of supervision
Fed chair says an appointment to the long-vacant post would be welcome, but stresses the ‘outstanding job’ board member Tarullo has done leading work in the area
Research assesses South Africa’s vulnerability to Fed hike
Countries with large ratios of external financing needs to foreign exchange could be more vulnerable to Fed rate hikes, working paper finds
Swaziland currency drops under Fed decision pressures
Delayed Fed rate rise put pressure on Swaziland lilangeni, central bank says, and more moves are likely
Fed rate rise given the ‘amber light’
Federal Reserve holds rates but hints there could be action at the December meeting; analysts still seeing mixed signals
Bernanke offers insight into Fed’s political balancing act
Former Fed chair tells of navigating both political and economic pitfalls in crisis response, and says the US central bank’s independence is still under threat
Vocalink to deliver ‘new generation’ real-time payments in US
CEO David Yates tells Central Banking there will be unique challenges to delivering real-time payments in the US, as Vocalink is chosen to provide software behind faster payments project
Kohn warns of 'serious shortcomings' in US macro-prudential framework
Former Fed vice-chair says inability to impose LTV and LTI ratios on mortgages may imperil US rate weapon at a time when central bank is failing to meet targets
Fed support high on wish list for buy-side repo clearing
Risk USA panellists want liquidity support for planned new services
Brainard mulls how to reduce ‘undue’ regulatory burden
Fed’s Lael Brainard discusses potential areas for reducing regulatory burden faced by banks; warns process may take longer where interagency agreement needed
Bullard offers alternatives to cutting reserve bank dividend
St Louis Fed president takes issue with congressional proposal to cut dividend paid to largest banks; suggests tying amount paid to benchmark rate instead or eliminating it completely