Federal Reserve System
NY Fed’s Krieger: liquidity backstop for shadow banks vital
New York Federal Reserve executive vice-president Sandra Krieger stresses importance of backstop measures to reduce systemic risk arising from shadow banking activities
Nobel Prizewinner not right for Fed: key Republican senator
Senate Banking Committee ranking member Richard Shelby sets out reasons underpinning party’s repeated rejection of Nobel Prizewinner Peter Diamond for Fed board seat
Underlying inflation, unemployment should ground mandate: Riksbank’s Svensson
Riksbank deputy governor Lars Svensson calls for refined monetary policy framework focusing on underlying, rather than headline, inflation and unemployment over resource utilisation
Fed’s Lockhart recommends renewed focus on monetary, credit aggregates
Atlanta Fed president also advocates Taylor-type rule to manage exit
Subprime market victim of housing bubble: Philly Fed paper
Philadelphia Federal Reserve study says bubble conditions in the housing market spurred subprime lending
Basel III reduces output volatility: NY Fed paper
New York Federal Reserve study says rise in capital buffers leads to decline in output and output volatility
Bernanke on inflationary impact of global commodity boom
Federal Reserve chairman Ben Bernanke says rise in global commodity prices may lead to temporary spell of inflation
Employment the missing component of US recovery: NY Fed’s Dudley
New York Federal Reserve president William Dudley says employment growth only missing piece in puzzle
Efficient markets’ failure hamstrung central banks: CentralBanking.com panel
Reliance on efficient markets hypothesis to develop policy frameworks must be reversed, LSE’s Brandon Davies and Fathom director Danny Gabay argue
Fed’s Yellen: managing market expectations key to QE
Federal Reserve vice-chair Janet Yellen stresses importance of market expectations to success of asset purchase programme
Richmond Fed’s Lacker on stress test disclosure
Richmond Federal Reserve president Jeff Lacker says appropriate level of stress test disclosure poses serious challenge
St Louis Fed paper denies direct Fed link to 1930s recession
St Louis Federal Reserve study says Fed’s doubling of reserve requirements was not cause of contraction in 1930s
Europe contributed to global savings glut: Fed paper
Federal Reserve study says European demand for US securities helped push US Treasury yields lower
China’s financial system, not renminbi, source of imbalances: St Louis Fed paper
St Louis Federal Reserve study says revaluation of renminbi will not address source of trade imbalances and may prove counterproductive
Look to global output gap: St. Louis Fed’s Bullard
St. Louis Federal Reserve president James Bullard says policymakers should look to global output gap for true measure of domestic inflation
RBNZ triggers contingency plans as earthquake strikes
Reserve Bank of New Zealand says it is collaborating with private sector to provide cash to earthquake-hit areas
No energy pass-through to headline inflation: St Louis Fed paper
St Louis Federal Reserve study finds no pass-through effect from energy prices to trend headline inflation
Fed's Raskin on debit card reform
Federal Reserve board member Sarah Raskin outlines regulatory changes in debit card industry
Beijing downplays hot money flows
China’s State Administration of Foreign Exchange says hot money flows are “ant-like” relative to size of economy; analysts say results downplay risks of emerging markets overheating
Bernanke on progress of Dodd-Frank reforms
Federal Reserve chairman Ben Bernanke outlines Dodd Frank reforms in financial stability area
The collateral squeeze of 2008
William Allen and Richhild Moessner analyse data from US commercial banks and Morgan Stanley in the months surrounding Lehman Brothers’ collapse
The inflation targeting debate: a case study in FOMC deliberation
Discussions among Federal Open Market Committee members in the mid1990s highlight two important lessons for central bankers, Marvin Goodfriend shows