Federal Reserve System
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
Financial reform, Fed independence and the political economy of monetary policy
The 2010 Financial Reform Act will weaken the independence of the Federal Reserve. Looking at the central bank’s history and its political economy allows us to appreciate why, Thomas F. Cargill argues
Off with their Fed
The past six months have witnessed the Federal Reserve come under attack on issues ranging from its mandate to its discharge of its duties. Ramya Jaidev reports
Boston Fed paper on measures of bank output
Boston Federal Reserve study finds bias in methodology statistical agencies’ measurement of bank output
FOMC minutes on why yield curve is steepening
Federal Open Market Committee meeting minutes explain steep rise in long-term Treasury yields
Fed’s Kohn appointed to Bank’s FPC
UK government names four external members to interim Financial Policy Committee; former Fed vice-chair Donald Kohn among three ex-central bankers appointed to macroprudential body
Dallas Fed paper on SNB crisis measures
Dallas Federal Reserve case study on success of Swiss National Bank liquidity provisions to foreign banks