Federal Reserve System
Fed paper studies the effect of Tarp on bank risk-taking
Discussion paper says the increase in risk-taking without an increase in lending following Tarp capital injections “is suggestive of moral hazard due to government ownership”
Raskin echoes Bernanke in discussing ‘modest’ recovery
Sarah Bloom Raskin talks about slow recovery compared to historical cycles and the impact of accommodative policy on savers
Volcker rule will not be ready for July, Fed chair admits
Expert predictions of delayed start date proven correct
Bernanke laments 'modest' US recovery
Fed chairman describes mixed progress in US economic recovery; explains reasons for publishing statement of longer-run goals and policy strategy
Fed’s Plosser warns of blurring institutional boundaries
President of the Philadelphia Fed warns of hazards when central banks get involved in fiscal policy
Philadelphia Fed launches consumer credit and payments web pages
Research and statistics on consumer credit and payments now displayed on separate web page; includes searchable publications library and access to podcasts
NY Fed paper examines workforce skill across US
Staff paper finds different skill sets in different regions of the country; urban areas have more workers with ability to generate ideas and solve complex problems
Vietnam and San Francisco Fed reflect on banking seminar
State Bank of Vietnam deputy governor meets with delegation from Federal Reserve Bank of San Francisco; group discusses recent seminar on monitoring and managing banks in Vietnam
Inflation targeting: a child of our time?
Starting in 1989 inflation targeting has come of age. But does it have the durability to withstand severe economic and financial shocks, or was it simply a child of its time that cannot mature?
NY Fed paper discusses budget deficit impact on output
Federal Reserve Bank of New York staff paper finds running budget deficits can be either expansionary or contractionary for output, depending on how deficits interact with expectations about the long run
Shirakawa compares Bank of Japan’s inflation goal to Fed's
Masaaki Shirakawa says Federal Reserve and Bank of Japan new inflation goals are "basically the same"
FOMC minutes show split on bond purchases
Minutes from latest Federal Open Market Committee meeting shows board members disagreed over introducing another bond-buying programme to boost the economy
Fed official reports on success of dollar swap lines
Steven Kamin, director of the Division of International Finance at the Fed, tells Senate committee currency swap lines have helped ease dollar funding market; stresses agreements are risk-free
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Fed’s Plosser warns against ‘accelerationist’ policy
President of the Federal Reserve Bank of Philadelphia says approach that calls for monetary policy to do more to get to objectives faster must be avoided
SF Fed’s Williams supports buying-up mortgage-backed securities
Federal Reserve Bank of San Francisco president John Williams says restarting the Fed’s programme of purchasing mortgage-backed securities is the best way to boost the US economy
The Fed’s flawed PCE inflation targeting regime
The Fed’s move to adopt inflation targeting (IT) was long expected. But economists Peter Warburton and Joanna Davies say the US central bank will be targeting inflation on its own terms
Tri-party repo taskforce to disband without delivering key reform
The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes
Inflation-targeting central banks should be dissuaded from dual mandate, says St Louis Fed paper
St Louis Federal Reserve study says how Federal Reserve should respond to aggregate supply shocks is unclear if it is to pursue inflation targeting under a dual mandate
Dominican Republic confident in new inflation target; holds rates
Central Bank of the Dominican Republic leaves rates unchanged at first meeting since introducing a new inflation targeting framework; says it will meet 5.5% inflation target by the end of 2012
Bernanke fears serious economic consequences from burgeoning deficit
Federal Reserve chairman Ben Bernanke warned that if the US budget was not brought under control soon, policymakers may not be able to respond to future economic shocks
Plosser bemoans 'confusion' over Fed communications
Federal Reserve Bank of Philadelphia president Charles Plosser says decision to set time frame for when rates will remain exceptionally low had created confusion over Fed's policy statement
FOIA request reveals financial holdings of Fed presidents
Regional Federal Reserve banks disclose financial records of presidents; documents show New York Fed’s William Dudley required temporary waiver for holdings in AIG and General Electric