Federal Reserve System
Fed's Fisher lambasts QE2
Dallas Fed president Richard Fisher claims QE2 will not create jobs, just spur speculation; comments highlight threats to Bernanke consensus when Fisher and others become FOMC voters in 2011
Michael Bordo: Fed failed as lender of last resort
Federal Reserve did not fulfil its role as lender of last resort
Eugene White: Fed supervision increased probability of crises
Fed’s increased role in banking supervision during the early part of the last century altered behaviour of banks and regulators
India’s PM backs QE2
Backing from Manmohan Singh follows attacks from other emerging markets
Ron Paul set to renew bid to audit Fed
United States representative Ron Paul vows to audit Federal Reserve if he wins power of House subcommittee on monetary policy
Zhou, Meirelles attack QE2
Central Bank of Brazil president Henrique Meirelles and People's Bank of China governor Zhou Xiaochuan bash Federal Reserve’s latest stimulus programme
Kansas Fed on moral hazard in lending
Kansas City Federal Reserve study shows moral hazard poses greater threat to lending than adverse selection
New Fed office to aid stability, macroprudential efforts
Federal Reserve sets up financial stability policy office to coordinate institution-wide analysis on stability risks; J. Nellie Liang named director of office
Broaden renminbi use to curb dollar influence: ex-HKMA’s Yam
Former Hong Kong Monetary Authority chief executive Joseph Yam calls for more renminbi internationalisation; says Hong Kong a vital portal in the effort
Fed to buy $600 billion-worth of Treasuries
Size of QE2 exceeds expectations; pace of purchases slower than forecast
CIC’s Zhou calls on Congress, not Fed, to spend
China Investment Corporation’s Zhou Yuan says further quantitative easing will not cure United States’ unemployment problem; Fed expected to unveil more asset purchases, despite dissent
IMF: post-Volcker monetary policy effective
Fund study find monetary policy has had just as much impact on output in the United States post-Volcker
UK doesn’t need more QE: former MPC members
Sir John Gieve, DeAnne Julius and Rachel Lomax say Bank should hold on launch of QE2; Gieve flags asymmetric bias towards looser policy
St Louis Fed says TAF announcement raised risk premiums
St Louis Federal Reserve study shows announcement of Fed’s Term Auction Facility unintentionally caused market participants to revise upward their expectations of seriousness of financial crisis
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
Fed backs down in Supreme Court battle with Bloomberg
Federal Reserve drops appeal against ruling forcing it to reveal names and details of banks that borrowed in crisis; move draws Fed’s involvement in two-year long battle to a close
RBI looks at crisis impact on central banks’ balance sheets
Reserve Bank of India study shows financial crisis led to dramatic change in composition of central bank balance sheets
Fed and Equens open transatlantic payment channel
Federal Reserve-operated ACH and Dutch-German payments processor connect US to 22 countries in Europe for low-value payments in dollars, euros and sterling
Federal Reserve – Beige Book (October 2010)
Reports from twelve districts identify continued weakness in housing market recovery
NY Fed’s Dudley explains weakness of economic recovery
New York Federal Reserve president William Dudley says recovery depends on housing and consumption boost
Minneapolis Fed’s Kocherlakota: QE exposes taxpayers to risk
Minneapolis Federal Reserve president Narayana Kocherlakota discusses negative impact of quantitative easing on taxpayers
Atlanta Fed’s Lockhart favours more explicit inflation target
Atlanta Federal Reserve president Dennis Lockhart says more explicit target will better anchor inflation expectations
Philly Fed queries merits of payday loans
Philadelphia Federal Reserve study discusses costs and benefits of payday loans
Philly Fed promotes Prichard to first vice-president
Philadelphia Fed appoints Blake Prichard to succeed William Stone Jr as first vice president and chief operating officer at central bank