Federal Reserve System
NY Fed paper sheds light on causal determinants of inflation expectations
Federal Reserve Bank of New York study says consumers may be revising their inflation expectations in response to inaccurate information
Bernanke to give student lectures
Chairman of the Federal Reserve will deliver a series of lectures to university students in the US
Fed communication overhaul reveals split in rate forecasts
Federal Reserve survey of individual policy-makers’ interest rate expectations shows five-year split on when to make first federal funds rate rise; Fed falls short of inflation target
Fed reveals design of new interest rate projections
Federal Reserve releases templates to be used in next Summary of Economic Projections (SEP) to project participants' views of the appropriate path for monetary policy
Fed’s Tarullo identifies supervisory difficulties in applying Volcker rule
Federal Reserve board member Daniel Tarullo says regulators were finding it difficult to distinguish proprietary trading from market-making activities
Robert Pringle's Viewpoint: Policy-makers in thrall to group thinking
Philipp Hildebrand’s resignation has renewed fears about market practitioners working in central banks. But FOMC minutes from 2006 reveal a deeper problem – placing too much reliance on economists
Former contractor charged for hacking New York Fed files
Computer programmer at Federal Reserve Bank of New York arrested for stealing proprietary source code used to track the US government’s finances; code is estimated to be worth $9.5 million
Risk managers complain about Fed stress test workload
Twelve new banks are included in this year's US stress test, and some institutions are unhappy about the extra work
Fed paper models financial stress index
US Federal Reserve study discusses several factors that should be considered when building financial stress indexes
European banks still exposed to US dollar funding risks, ESRB warns
European Systemic Risk Board issues recommendations to prevent build up in US dollar funding and liquidity risk; calls for single entity to be responsible for national macro-prudential policy
Duke favours more simple stress tests for smaller banks
Federal Reserve’s Elizabeth Duke says community banks can conduct general tests on bank loan portfolios to reduce cost burdens
Fed’s Plosser supports numerical inflation objective
Philadelphia Federal Reserve president Charles Plosser says Fed seeks to clarify longer-run goals and monetary policy decision-making process
Fed appoints new special adviser
US Federal Reserve board chooses Johns Hopkins University professor Jon Faust as a special adviser
Fed expects $76.9 billion transfer to US Treasury
Federal Reserve estimates it will provide $76.9 billion of funds to the US Treasury after high returns from interest on income
Williams welcomes greater transparency at the Fed
San Francisco Federal Reserve president John Williams says he supports steps to make the Fed’s long-term policy goals more explicit
Basel 2.5: US ratings workaround too punitive, banks complain
Securitisations suffer in draft rules that avoid use of credit ratings - a Dodd-Frank Act requirement
Kansas City Fed’s George discusses the mis-pricing of risk
Kansas City Federal Reserve president Esther George says policy-makers face difficult balancing act to boost the housing market and prevent misallocation of capital
Fed champions further action to revive housing market
Federal Reserve publishes review of policies to address impediments in US housing market in bid to revitalise economic recovery
Fed 'very close' to adopting inflation target, says Bullard
St Louis Federal Reserve president says FOMC nearing agreement to introduce inflation targeting in US; move is part of effort to improve transparency at the Fed
Bank of Italy: ECB’s flexible operational framework assisted crisis response
Bank of Italy study compares effectiveness of unconventional monetary policies adopted by the Federal Reserve and European Central Bank in response to crisis
Fed to release ‘projections’ for future policy
FOMC minutes reveal committee members’ expectations for future monetary policy will be incorporated in Summary of Economic Projections documents; part of Fed’s improved transparency plan
NY Fed paper identifies illiquidity issues in Tips market
New York Federal Reserve study says benefits of inflation-protected Treasury securities are not being fully reaped
Obama nominates two new members to Fed board
Former undersecretary of the Treasury Jerome Powell and Harvard economist Jeremy Stein put forward to fill vacant seats on Federal Reserve Board of Governors; need Senate backing
CentralBanking.com review of 2011
Round-up of 10 of the leading news stories in 2011