Federal Reserve System
FOMC should be more explicit about its reaction function, says Plosser
Federal Reserve Bank of Phladelphia president Charles Plosser says 'simple, robust rules' can provide useful guidance for FOMC policy
Tarullo addresses Dodd-Frank's impact on mid-sized banks
The Fed governor notes these lenders 'vary enormously in size' and bridge current $50bn bar for enhanced prudential supervision; suggests 'line might be better drawn' at $100bn
Yellen says Fed's balance sheet will shrink ‘considerably'
Federal Reserve chair Janet Yellen hints central bank may stop rolling over QE principal as early as next year; denies that Fed policies have exacerbated inequality by ‘goosing' stock market
Jeremy Stein casts doubt on Fed's communication strategy
The governor, who steps down later this month, says he failed to appreciate how challenging communicating monetary policy can be before joining the Fed
Central bankers give mixed review of BoE forward guidance
One third of respondents to CentralBanking.com poll say the Bank of England’s second phase of forward guidance is an admission that its first attempt was a failure
Fed slows asset purchases to $45 billion a month
Growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions, the FOMC notes
Yellen promises ‘tailored' regulation for community lenders
Fed chair says regulator will become ‘smarter' in applying rules to ensure smaller lenders can thrive, while still addressing ‘too big to fail'
Fed nominees close in on board member jobs
Stanley Fischer on track to become Yellen's number two after he and fellow Reserve board nominees Lael Brainard and Jerome Powell are given the nod by Senate committee
Fed bars BofA from raising dividends after flawed capital submission
Federal Reserve orders Bank of America to resubmit capital plan after bank discovers inaccuracies dating back to Merrill Lynch takeover that caused miscalculation of capital ratios
Sarb forecasts further impact from Fed taper
Financial stability review highlights domestic risks that could ‘amplify’ the impact of US monetary policy on the South African economy
IMF paper finds QE cut real US Treasury yields by 140bp between 2008-12
Using a structural arbitrage-free model of demand pressures on US real interest rates, working paper finds domestic and foreign purchases has had big impact
Fed paper challenges New Keynesian orthodoxy
Working paper argues sticky prices, which underpin most central banks’ New Keynesian models, can produce implausible results at the zero lower bound, with major implications for policy
Rosengren calls on FOMC to update forward guidance
Boston Fed president Eric Rosengren – who is not on the FOMC this year – calls for guidance to be increasingly linked to achieving the dual mandate
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference
Fed finalises strict leverage ratio requirements for biggest banks
The Federal Reserve has finalised rule that will require systemically important banks to maintain leverage ratios of at least 5% from 2018
US banks get stay on Volcker rule
The Federal Reserve has given banks until July 2017 to shed investments in collateralised loan obligations, potentially saving them millions of dollars
Jeremy Stein quits the Federal Reserve
Jeremy Stein, who joined the Federal Reserve board of governors in May 2012, will step down four years early
Fed switches MBS purchases to proprietary platform
The New York Fed, which implements FOMC policies, will start using its FedTrade platform to buy mortgage-backed securities later this month
Cyclical character of US unemployment makes monetary policy a remedy, says Yellen
Federal Reserve chair Janet Yellen argues cyclical character of US unemployment renders monetary policy an important tool in fighting it
US regulation of foreign banks follows 'pattern set by the EU', says Fed's Tarullo
Basel rules are ‘floors, not ceilings', the Federal Reserve's Daniel Tarullo said yesterday, following accusations that the US is treating foreign banks unfairly
Fed rejects Citi's dividend plans
The Federal Reserve has rejected the capital plans of five systemically important banks following annual stress tests; Bank of America and Goldman Sachs squeeze through
Fed finds 75% of US citizens reluctant to pay by phone
While mobile banking continues to grow, many consumers are growing more sceptical of services and the security of the technology, according to a Fed survey
Stress test revisions ‘an embarrassment’ for the Fed
Federal Reserve revises stress test results due to ‘inconsistent’ assumptions of banks’ capital plans; ‘undermines confidence’ in the institution, according to former official