Ben Bernanke
Kohn worried about weight of expectations on Federal Reserve
The weight of expectations on the US Fed may be too high; the US is not as well placed as the UK to tackle another major crisis, says the former Fed vice-chair
Former Fed vice-chair Kohn on populism, top central bankers
Donald Kohn speaks to Christopher Jeffery about his fears for the Fed amid mounting populism, why he has few policy regrets and his experiences working with some of the world’s top central bankers
No ‘taper tantrum’ this time around – Fischer
Fed vice-chair says US central bank has learned from mistakes made in 2013; markets unlikely to face same disruptions as Fed unwinds balance sheet, says Fischer
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
Inclusion of renminbi in SDR is ‘symbolic’, says Bernanke
Former Fed chair sees inclusion of renminbi in SDR basket as a ‘symbolic’ gesture rather than a major shift; Eswar Prasad argues currency will never be a safe haven
Overhaul of Federal Reserve structure is needed, paper says
Former adviser to Bernanke co-authors paper stressing need to end private control of 12 regional Fed banks; diversity and transparency need improvement, authors argue
Yellen offers helicopter money cautious support
Fed chair says central banks could "legitimately consider" stimulus by financing government spending but only in "extreme" circumstances and with an eye on the many cases where it has gone wrong
Kocherlakota: Fed should talk openly about negative rates
Former Minneapolis Fed president says central bank should talk about its policy options in a recession ahead of time, to avoid sending a bad signal if they have to be used
Meltzer criticises Burns and Bernanke over Fed independence
Allan Meltzer criticises the former Fed chairs for giving independence away; wants to incorporate a rule into policy-making, while Peter Conti-Brown favours governance reforms
Book notes: Lehman Brothers: a crisis of value, by Oonagh McDonald
McDonald's book offers a useful synopsis of the multiple failings at Lehman Brothers running up to 2008, but ultimately fails to add significantly to what was already known
Senate blocks proposal to conduct ‘full audit’ of the Fed
‘Audit the Fed’ bill fails to secure support needed to proceed to Senate floor; Bernanke joins ranks of current and former Fed officials warning of potential threat to independence
Bernanke and Trichet join Pimco global advisory board
Global investment management firm compiles new global advisory board from leaders in the world of economic and political policy
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
Economists expected lower inflation under Yellen than Bernanke, SNB paper finds
Sample of economists from ‘reputable academic and policy institutions’ on aggregate expected slightly lower inflation under Yellen compared to if Bernanke had stayed on
Greece uses bridge loan to repay IMF and ECB
Loan received today used immediately to repay debts, while government works to unlock full bailout; Ben Bernanke joins debate with criticism of German trade surplus
Nothing magical about targeting 2%, Bernanke says
Former Fed chair calls for further research on ‘alternative intermediate targets’ for monetary policy during IMF panel; will work with hedge fund Citadel as adviser on range of topics
IMF calls for demand boost to avoid 'new reality' of lower potential
IMF World Economic Outlook contains echoes of Larry Summers' view that the world's economies need shock therapy to avoid secular stagnation
Fed sets up permanent community advisory council
First advisory council since the 1980s set up as Federal Reserve fights claims that its policies are benefiting wealthy investors at the expense of middle-income households
Bernanke laments scripted policy meetings
Former Fed chair tells Mervyn King that meetings are ‘deadly boring’ as most of the work is done in advance; both men reflect on the crisis for BBC Radio 4’s Today programme
Colombian economist extends Bernanke-Gertler model for open economies
Model holds for open as well as closed economies, Central Bank of Colombia paper finds, concluding that they are even more vulnerable to asset price bubbles
Book notes: Deliberating American Monetary Policy, by Cheryl Schonhardt-Bailey
Using recordings of meetings of not only the FOMC but also of the House Financial Services Committee and the Senate Banking Committee, the book tries to understand how monetary policy is decided
Yellen hails Bernanke's courage in university speech
Fed chair Janet Yellen tells New York University graduating class her predecessor was brave to take ‘unprecedented' actions to fight the financial crisis
De Larosière decries world monetary ‘anti-system’
Central bankers need to work together to identify and address macro-economic imbalances; system of co-ordinated currency boards could help absent functioning monetary system, says former IMF chief
Robert Pringle's Viewpoint: Time for central banks to play politics
Central bankers need to use the breathing space created by their extraordinary policies to lobby for deeper reform