Federal Reserve System
Yellen tells Congress Fed is ‘most transparent in the world'
Fed chair Janet Yellen faces Congressman who wants to enforce rules-based monetary policy, telling him it would compromise central bank independence
Yellen endorses calls for ‘community banker' on Fed board
Fed chair Janet Yellen says legislating to earmark seats on the board would be a mistake, but agrees the board would be improved by the addition of a community banker
Fed set to finish taper in October
FOMC mulls decision on whether to raise Fed funds rate or shrink balance sheet first before year-end; fears either strategy could jeopardise Fed's communication efforts
FOMC members offer conflicting takes on US inflation path
Jeffery Lacker says inflation is moving closer to the Fed's 2% target, while Narayana Kocherlakota warns reaching it may take another four years
Lagarde highlights threat of renewed EM volatility
IMF director lauds ECB assault on low interest rates and highlights importance of central bank communication as Federal Reserve continues to taper
Yellen takes sides in ‘lean against the wind' debate
Federal Reserve chair says monetary policy faces ‘significant limitations as a tool to promote financial stability'; macro-prudential policies ‘far more direct' and effective
Dutch paper: Fed guidance pushed up equity prices abroad
Working paper published by The Netherlands Bank attempts to quantify impact of Fed’s forward guidance on international equity markets
Should central banks review their investment guidelines as monetary policy normalises?
Central Banking editor Chris Jeffery talks to Charles Goodhart, Tim Young and Scott Dickinson about the strategies reserve managers can deploy ahead of a tightening in monetary policy
Fed levies record fine on sanctions-busting BNP Paribas
The Fed's fine of $508 million is part of a massive $9 billion fine for the French-based banking group for dealing with Iran, Cuba and Sudan in violation of US sanctions
Plosser: Fed should be stripped of dual mandate
Charles Plosser says the Federal Reserve should ‘focus solely’ on price stability, as monetary policy has ‘very limited ability’ to influence employment
Tarullo says Fed must ‘hone' stress test regime
Fed governor says some firms still lack ‘reliable information' about their business exposures; hints at more attention to developing tests' macro-prudential elements
Financial stability reports to become ‘a lot more important’
New research highlights ‘sizeable effects’ of financial stability reports on stock markets; speeches have become more influential since the crisis but this is unlikely to last
Fed tapers another $10 billion as US growth rebounds
Starting in July, bank will buy $35 billion of extra assets each month; taper finished by year's end at current pace
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
Lagarde says Yellen should double FOMC press conference frequency
IMF chief says clear communication is needed to dispel market uncertainty over US interest rate lift-off; also calls on FOMC to publish quarterly monetary policy reports
Carney leads central bankers in open mouth operations
ECB policy-makers make the most speeches by far, but a broader trend towards more frequent communication is confirmed by CentralBanking.com research
Stanley Fischer confirmed as Fed vice chair, as Brainard joins the board
Lael Brainard passes Senate vote to become newest member on Fed board of governors; expected to be sworn in before FOMC meeting on Tuesday
Fed's communication on tapering ‘careless and whimsical', says new BoE deputy
Ben Broadbent, incoming deputy governor for monetary policy, says the Bank of England is likely to provide ‘disciplined' guidance on asset sales
Rosengren outlines exit options from ‘essential' unconventional monetary policy
Exit options could include using reverse repos to put a ‘floor' on short-term interest rates, or to raise the interest rate the Fed pays on excess reserves
Goodman, Goodman, Goodman and Goodman break new ground on coauthorship
Four economists sharing the surname Goodman - including Sarena Goodman of the Federal Reserve Board - explore coauthorship by economists with the same surname
People: German and Dutch central banks lose board members; Philadelphia Fed appoints research head
Longest-serving Bundesbank executive board member to step down; Netherlands Bank loses governing board member; Philadelphia Fed replaces departed Loretta Mester; more
‘Shadow policy rate' measures Fed monetary policy stance at ZLB
BIS working paper describes a shadow policy rate constructed from a number of variables reflecting monetary policy actions to divine the Fed's stance at the zero lower bound
Fed overhauls collateral requirements for discount window
The changes, including separate requirements for fixed-rate and floating-rate loans posted by depository institutions, could make it harder to obtain central bank liquidity
Fed's Lacker highlights 'critical, misconstrued' distinction between monetary and credit policy
Action constitutes monetary policy if quantity of liabilities is altered and credit policy if portfolio composition changes without affecting liabilities, Richmond Fed head says