Federal Reserve System
NY Fed: Funding liquidity explains investor hedging behaviour
New York Federal Reserve study finds funding liquidity risk plays important role in stock returns
NY Fed to start second set of reverse repo tests
New York Federal Reserve will conduct further tests of reverse repurchase operations tool in preparation for eventual exit from monetary support; tests will involve agency MBS, unlike previous trial
Dallas Fed: Oil shocks driven by supply and demand factors
Dallas Federal Reserve study links variations in oil prices and US growth patterns over past four decades to endogenous shocks
Bernanke on why states face fiscal shortfalls
Federal Reserve chairman Ben Bernanke pins shortfalls on recession, legislation and pensions
Greece’s fiscal situation far worse than US: Atlanta Fed
Atlanta Federal Reserve study says Greece’s fiscal debts more worrisome than the United States’s
Bear bailout vehicle turns first paper profit
Federal Reserve balance sheet data shows Bear Stearns’ assets held in Maiden Lane vehicle made a paper profit for first time since its inception
Boston Fed: Real rigidities dampen exchange rate shocks
Boston Federal Reserve study on price rigidities shows intense price competition leads to weak pass-through effects when there is an exchange rate shock
Fed’s Bullard calls for further QE
St Louis Federal Reserve president James Bullard says United States must commit to further stimulus if it wants to avoid a deflationary trap like Japan
Federal Reserve – Beige Book (July 2010)
Federal Reserve’s July Beige Book shows significant improvement in labour markets across five of the United States’ 12 districts
Boston Fed: poor subsidise card payment transfers of rich
Boston Federal Reserve paper shows low income households subsidise the cost of card payment transfers for high income households through higher relative prices
Fed finally set for full complement of governors
Senate Banking Committee okays Janet Yellen for Fed vice-chair; Peter Diamond and Sarah Raskin also approved for Fed board; first time six governors have served the Fed in more than four years
Fed’s response averted a depression: Blinder
A paper co-authored by former Federal Reserve governor Alan Blinder says the central bank’s extraordinary polices prevented the country from entering a second Great Depression
Quantitative easing doesn’t work: Woodford
National Bureau of Economic Research paper co-authored by Michael Woodford says quantitative easing has little impact, but credit easing does occasionally when targeting specific assets
Price stability rightly remains sole focus of monetary policy: IMF
Fund directors say macroprudential measures, rather than monetary policy tools, should deliver financial stability; propose measures including dynamic provisioning framework
Fed better prepared than us for financial crisis: ECB paper
European Central Bank study shows stronger emphasis towards output allowed the Fed to react faster than Frankfurt to financial crisis
Volcker should chair FSoc
Aspects of the Dodd-Frank Act are welcome but crises will continue to be mismanaged, Robert Pringle writes.
Fed names new regional chairs
Washington-based board announces heads of 12 Federal Reserve banks for 2010; none from banks
Fed is the main winner from Dodd-Frank bill: Meyer
Former Federal Reserve governor Laurence Meyer says the central bank has gained powers it wanted and shed responsibilities it did not, despite initial anti-Fed sentiment among lawmakers
FOMC faces tricky task in avoiding another bubble
FOMC officials’ pessimism about conditions highlights challenge central bank faces in fulfilling its dual mandate
NY Fed: new approach to government funding
NY Fed paper proposes measures to reduce government's reliance on cyclical revenue sources
Wadhwani scolds central banks for reluctance to say sorry
Former Bank of England Monetary Policy Committee member disappointed over central banks' reluctance to admit need to lean against the wind
Fed survey shows growing appetite for risk in OTC markets
Inaugural Federal Reserve survey on financing of over-the-counter derivatives shows growing demand in risky assets
'Basel II was a big mistake': Larry Meyer exclusive interview
The former Fed governor, now vice-chairman of Macroeconomic Advisers, talks to Credit about the US central bank’s handling of the financial crisis, and gives his views on where US monetary policy is heading.
Fed’s Duke announces steps to improve data needs on SME lending
Federal Reserve governor Elizabeth Duke says data improvements will help Fed understand how lending requirements for small business