Federal Reserve System
UK think tank forecasts 8% rates by 2012
Though now at record lows, Policy Exchange chief economist Andrew Lilico says interest rates in the United Kingdom may rise to 8% by 2012 to overcome double digit inflation
BoE considers option of further stimulus
Bank of England minutes show the Monetary Policy Committee opted to keep stock of asset purchases constant despite downward pressure on growth
Regional Fed staff to make way for foreign officials at Jackson Hole: reports
Reports say ticket allocation for regional Fed presidents and research directors will drop from two to one; New York Fed markets chief no longer on invite list
NY Fed reports dip in household debt
New York Federal Reserve says households now owe more than 6% less than in 2008
Minneapolis Fed’s Kocherlakota on the FOMC’s outlook
President of Minneapolis Federal Reserve Narayana Kocherlakota says recovery will only be “moderate”
BoJ on dollar’s “exorbitant privilege”
Bank of Japan research notes that with great privilege comes great responsibility
Fed toughens rules on consumer protection
Federal Reserve announces measures to protect mortgage borrowers from deceptive practices
Donald Kohn: a life in central banking
The outgoing vice chairman of the Federal Reserve Board has spent 40 years at the central bank. He tells Blair Baker about the significant evolution in policymaking he has witnessed and, latterly, overseen.
NY Fed: emergency dollar swap lines a success
New York Federal Reserve study says dollar swap facilities provided effective source of funding to banks during financial crisis
Fed’s Hoenig: we risk repeating past mistakes
Federal Open Market Committee dissenter warns that US economy requires prolonged period of rebalancing that low rates alone cannot tackle
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
Reserves growth does not boost lending: Fed study
Federal Reserve study says notion that money multiplier can improve bank lending is misguided
Bank of Japan watching soaring yen closely
Japanese central bank says it is carefully monitoring strengthening currency and its implications for export market; plummeting confidence in the US recovery sparks worry
Kansas City Fed: QE effective at zero bound
Kansas City Federal Reserve study shows quantitative easing is effective at lower interest rate bound
Lessons from Bill Taylor and the last financial crisis
Kansas City Federal Reserve publishes a short biography of former FDIC chairman
Washington begins writing out reliance on ratings agencies
Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Office of Thrift Supervision begin search for new measure of creditworthiness
New York Fed details how it plans to implement latest policy move
New York Federal Reserve says it will hold levels of domestic securities at $2.054 trillion by buying long-term Treasuries; plans to steer away from scarce markets
King takes firm line on QE, direct lending
Bank of England governor Mervyn King says small businesses’ problems won’t be solved by direct help from the central bank; stresses that banks will be weaned off liquidity support
FOMC pledges to maintain scale of asset purchases
Federal Reserve fails to announce additional quantitative easing but pledges to keep size of purchases at current levels; calls for more easing spurred by weak jobs data
BIS’s Hannoun flags dangers of exceptional measures
Bank for International Settlements’ Hannoun calls on central banks to shrink balance sheets
St Louis Fed: Financial innovation important for growth
St Louis Federal Reserve study says improving best financial practices can boost economic performance
FDIC’s general counsel resigns
Federal Deposit Insurance Corporation general counsel Michael Bradfield becomes second high profile figure to leave this week
Top US economic adviser Christina Romer quits
Chair of US President’s Council of Economic Advisers Christina Romer resigns, citing family reasons; thought to be interested in Janet Yellen’s post at San Francisco Fed