Federal Reserve System
US lawmaker responds to Greenspan attack on Dodd-Frank
Former chairman of the House Financial Services Committee Barney Frank answers Alan Greenspan criticism of Dodd-Frank; launches own attack on former Fed chairman
Uncertainty clouds US labour market: NY Fed’s Dudley
New York Federal Reserve president William Dudley says there are conflicting signals over state of US labour market
Philly Fed’s Plosser calls for explicit inflation target
Philadelphia Federal Reserve president Charles Plosser says adoption of explicit inflation target will help Fed retain credibility during normalisation of policy
Fed reveals details on emergency funding recipients
Federal Reserve releases information on banks’ discount window activity during crisis; ends 28 month-long dispute with Bloomberg
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Bullard calls for “last in, first out” approach to Fed exit strategy
St. Louis Federal Reserve president James Bullard says offloading assets from Fed's balance sheet before raising interest rates is his preferred exit strategy from accommodative monetary policy stance
Hoenig warns policy will mean "someone has to pay" in the future
Thomas Hoenig renews call for the unwinding of policies put in place during the financial crisis, urging the Fed to shrink holdings and raise rates to provide better long-term prospects for the US economy
Greenspan launches blistering attack on US financial regulations
Former chairman of the Fed claims the Dodd-Frank legislation does not meet “the test of our times”
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Atlanta Fed paper on evolution of US mobile payments
Atlanta Federal Reserve study says unique set of rules necessary for mobile payments industry to evolve in United States
Former Obama adviser Romer urges Fed to consider price-level targeting
Former chair of President Obama’s Council of Economic Advisers Christina Romer says adoption of price-level targets at Federal Reserve would aid communication with public over policy
Fed’s Duke: recession placed burden on households
Federal Reserve Board of Governors member Elizabeth Duke says recession placed significant pressure on households’ wealth
Fed’s arch hawk Hoenig to retire in the autumn
Hoenig reaches mandatory retirement age and will leave in October; selection committee established to ensure replacement is found in time to allow a smooth transition
St. Louis Fed’s Bullard: QE2 may have averted a liquidity trap
St. Louis Federal Reserve president James Bullard says second round of quantitative easing was better policy than promising an extended period of low interest rates
Plosser: stick with fed funds rate for exit
Philadelphia Federal Reserve’s Charles Plosser says federal funds rate would be more effective tool than interest on reserves in normalising monetary policy
Bernanke to brief the press
Federal Reserve to join Bank of England and European Central Bank in holding monetary policy press conferences
Central banks can avert banks hoarding liquidity: NY Fed paper
New York Federal Reserve says central banks can help prevent liquidity hoarding by supplying cash to markets
Regulators misprice assets during interventions: Richmond Fed
Richmond Federal Reserve study investigates the accuracy of monitoring bank assets during regulatory interventions
Déjà vu and monetary policy: Lockhart’s recent comments
A lack of consideration for price pressures signals that Fed officials continue to misconstrue the nature of central bank independence, Thomas Cargill writes
Fed profits soar to record $82 billion
Federal Reserve posts another record profit, trumping 2010 by $28 billion; $79 billion transferred to Treasury
Barclays shows interest in Maiden Lane II assets: reports
Reports that Barclays may consider an offer for residential mortgage-backed securities held in New York Federal Reserve’s Maiden Lane II portfolio could thwart AIG bid
US Treasury to offload $142 billion in agency MBS
US Treasury announces plans to wind down portfolio of agency securities bought from beleaguered Fannie Mae and Freddie Mac during crisis; move not expected to impact Fed policy
QE crystallised doubts surrounding dollar: US subcommittee speaker
US lawmakers and members of subcommittee on domestic monetary policy say Federal Reserve’s quantitative easing programme has reduced faith in dollar