Federal Reserve System
Bernanke dismisses higher inflation targets, unconvinced on conditional commitment
Federal Reserve chairman Ben Bernanke rejects higher inflation targets; says conditional rate commitment too risky, despite success in Canada
Too much expected of central banks: CentralBanking.com poll
CentralBanking.com poll shows more than 66% of readers think monetary authorities cannot be expected to boost growth and protect price stability
Fed looks to take Bloomberg battle to Supreme Court
Federal Reserve asks appeals court for stay on ruling that will force it to reveal emergency lending details; central bank considering appeal to country’s highest court as last resort
Decomposing the education wage gap
Atlanta Federal Reserve paper adds to plethora of research on link between education and wages
Atlanta Fed on dual labour markets
Income inequality may be exacerbated by firing costs, Atlanta Federal Reserve research argues
Impact of pledge to keep rates on hold unclear: Bank of Canada
Canadian central bank research says conditional commitment to keep rates low has had mixed effect; study shows pledge lowered interest rates on government bonds, but findings not statistically strong
Fed loses appeal to protect names of bailed out banks
Federal Reserve appeal to withhold names and details of banks it bailed out in crisis dealt a further blow; central bank must now petition Supreme Court
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