Federal Open Market Committee (FOMC)
Fed paper finds ‘surprising’ impact of monetary policy on long-term real rates
Working paper suggests reasons for the unexpected effect of short-term monetary policy on long-term real rates; argues this is driven by demand from ‘yield-oriented’ investors
Fed policy-makers hint at further stimulus
Minutes of the latest Federal Open Market Committee meeting show a number of members discussing further stimulus possibilities; moderate growth expected but also heightened risk
Bernanke says Fed ready for QE3 if necessary
Fed chairman explains FOMC decision to maintain rates and extend Operation Twist; says Fed is ready to make more asset purchases if necessary
Fed extends Operation Twist to end of 2012
Federal Open Market Committee to continue programme to lengthen average maturity of its holdings of securities; target range for federal funds rate maintained at 0-0.25%
Central bankers need to address problem of ‘groupthink’, says Shiller
Members of central bank committees need to dig deep to assert their ‘moral commitment’ and actively avoid falling into the trap of ‘groupthink’ when making decisions, says economist Robert Shiller
Bernanke places onus on US government to act
Bernanke calls on US Congress to act on fiscal policy; growth forecasts upgraded in latest Fed economic projections