Federal Reserve System
US Congress committee highlights Volcker rule anomalies
Fed's Tarullo among regulators grilled by US Congress over apparently arbitrary exemptions to the Volcker rule
Fed proposals for updated payments system meets with mixed response
Some industry practitioners tell Fed it should move faster on payments reform, though others argue if it isn't broken, don't fix it
Fed 'policy shocks' cause both dollar and foreign interest rates to fall, Boston Fed paper finds
Expansionary monetary policy shocks by the Federal Reserve leads to dollar depreciation, while similar 'unexpected expansionary announcements' by foreign central banks cause it to appreciate
Ben Bernanke joins Brookings; State Bank of Pakistan promotes deputy to acting governor
Bernanke, who left the Federal Reserve on Friday, will engage in ‘research and writing' at the Washington think-tank; State Bank of Pakistan deputy steps up after governor's departure
Bernanke passes torch to Yellen as poll shows US torn on his legacy
Janet Yellen to be sworn in as Federal Reserve chair on Monday, but de facto takes over when Bernanke bids farewell today
Unanimous Fed decision to taper 'sets precedent'
FOMC scales back monthly purchases by another $10 billion, makes no mention of EM turmoil; unanimous decision seen as making dissent less likely in coming meetings
Former Fed economists call on FOMC to dump Fed funds rate as main monetary policy tool
Joseph Gagnon and Brian Sack want the Fed to adopt the interest rate on its overnight reverse repo facility as its main policy tool and keep interest rate paid on bank reserves at same level
Vaguer guidance in vogue as unemployment continues to confound
As UK and US unemployment brushes the thresholds of monetary policy forward guidance, central banks' next moves are anything but straightforward
BoE's Miles finds market context decisive for QE impact
Impact of QE working through a portfolio rebalancing channel is weak in an environment of 'functioning financial markets'; implications for purchases made in dysfunctional markets unclear
Kohn says Fed's independence 'at risk'
Former Federal Reserve vice-chairman Donald Kohn argues the institution's autonomy has been undermined by recent policies; lists four explicit threats in paper published by the Brookings Institution
Lifetime achievement award: Paul Volcker
Paul Volcker’s record of achievement in difficult circumstances continues to provide an inspiration to central bankers throughout the world
History likely to vindicate Fed's crisis policies, says Bernanke
The Federal Reserve has developed ‘all the tools needed' to manage monetary policy; costs of extraordinary measures exaggerated, Bernanke says
Fed consults over financial stability implications of commodities investment
Financial firms' involvement in commodity markets could pose a risk to financial stability, particularly in the event of a natural or environmental disaster
‘Yellenomics’ – the second coming of Keynes at the Fed
Janet Yellen's confirmation is an historic shift toward a more activist Fed, a reinstatement of Keynesian economics and expanded government in general, writes Thomas Cargill
Stanley Fischer nominated Fed vice-chair
US President also nominates Lael Brainard, a former US Treasury under-secretary, to the Federal Reserve board, while Jerome Powell, on the board since 2012, is nominated for a second term
Disappointing jobs report raises questions over Fed forward guidance
US unemployment falls toward Fed ‘threshold' of 6.5%, but few new jobs are added; confusing result raises questions for how - or whether - the Fed will proceed with its 'taper'
Fed minutes reveal QE wind-down balancing act
Reduction in monthly asset purchases of $10 billion meant to signal slow rather than quick tapering; thresholds becoming less relevant as economy improves
Robert Pringle’s Viewpoint: Janet Yellen - that honeymoon feeling
Comparing what the new Fed chief should do with what is likely
People: Lautenschläger for ECB board; IMF's García set for Chile central bank
EU leaders nominate Bundesbank deputy, in charge of banking supervision, to take German spot on ECB executive; Chile's IMF director to join national central bank; and more
Yellen approved as Fed chairwoman
US Senate approves Janet Yellen as Federal Reserve's first female chair, in closest vote to date; adjusting unconventional policies to improving economic conditions ‘greatest challenge', says analyst
US community banks losing their edge with small businesses, paper finds
Fed discussion paper finds small, opaque businesses are just as likely to use a large banking corporation as they are a community bank; strong banking relationships remain important
Bernanke looks back on his time at the top
Fed chairman, who steps down on February 1, offers his take on an array of issues, including the long-term implications of asset purchases, central bank accountability and financial stability reforms
US Fed heads debate slow growth ‘riddle'
Presidents of four regional reserve banks at odds over whether weak trajectory in wake of the financial crisis is inherently structural or cyclical
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013