Federal Reserve System
Kansas’s Hoenig dissents at FOMC meeting
Kansas Fed president Thomas Hoenig votes against action to keep promise of extremely accommodative policy
Keep the Fed away from politics: Dallas’s Fisher
Dallas Fed president Richard Fisher says allowing Congress to audit the Fed would be comparable to the governance crises of Weimar Germany and pre-Péron Argentina
Ex-governors and prominent academics in new forum
Former Argentine central bank governor Mario Blejer, former Bundesbank president Ernst Welteke and a slew of prominent academics will participate in a new forum
Obama's reforms find few friends
Markets and commentators reject the US president’s proposed reform of banks, which would see a ban imposed on proprietary trading
NY Fed names new minder for AIG portfolio
Federal Reserve Bank of New York's new special investments management group will oversee its American International Group (AIG) and Maiden Lane III portfolios
Fed’s Dudley shoots down “audit” bill
William Dudley, president of the New York Fed, dismisses calls for greater scrutiny as threat to independence in policymaking
Fed retort: nothing to hide on AIG
Ben Bernanke, chairman of the Federal Reserve, invites the government to audit the central bank’s dealings with AIG; NY Fed submits 250,000 pages of evidence to Congress
Two challenges for policy in the near future
Donald Kohn, vice chairman of the Federal Reserve Board, set out his views on the Fed’s exit and the potential to include asset prices and financial stability questions in monetary policy.
Fed’s Duke is optimistic for 2010
Elizabeth Duke, a governor of the Federal Reserve Board, says she is optimistic that the volume of bank loans will increase this year
Rethinking risk aversion in asset-price models
San Francisco Fed shows measuring household risk aversion correctly is crucial for understanding asset prices
Accurate inflation forecast crucial for exit plan
St Louis Fed looks at challenges in designing effective exit policy
Bernanke appeals to keep Fed’s oversight powers
Federal Reserve chairman makes the case for the central bank to retain banking supervision in letter to lawmakers; Volcker supports systemic role
Federal Reserve -- Beige Book
US central bank’s first report for 2010 shows the economy continuing to improve
Atlanta’s Lockhart: don’t politicise the Fed
Atlanta Federal Reserve’s Dennis Lockhart says Fed must have the capacity to make unpopular decisions
Congress forces NY Fed to reveal AIG record
Federal Reserve Bank of New York subpoenaed for records of communication with AIG
Fed posts record $46 billion profit
The Federal Reserve says it made a record profit in 2009; NY Fed is pressed to publish AIG records in spiralling political row
Fed appeals to withhold bailout names
Federal Reserve goes to a US appeals court to overturn ruling forcing it to reveal the institutions rescued to the tune of $2 trillion at the height of the financial crisis
Inflation costs: Philadephia Fed working paper
Philadelphia Fed paper examines cost of inflation in a DSGE model
Optimal monetary policy with some pricing power
Boston Fed paper looks at optimal policy in an environment where firms can set some prices
Fed should hike to 3.5% soon: FOMC’s Hoenig
Thomas Hoenig, president of the Kansas Fed, says the central bank cannot afford to wait for recovery to firm before tightening
Philadelphia Fed Business Review
Review features articles on monetary policy implementation, banking design and the best way for central banks to transmit information
FOMC minutes flag inflation uncertainty
Minutes for December meeting of the Federal Open Market Committee underline divergence of views over price pressures
Fed’s Duke sees modest recovery ahead
Federal Reserve’s Elizabeth Duke expects credit conditions to thaw throughout the course of 2009
Taylor-rule author blasts Bernanke’s argument
Economist John Taylor says Bernanke was wrong to argue that low interest rates were not a factor in the housing bubble that led to the financial crisis