Federal Reserve System
Kansas City Fed Letter
April Fed Letter focuses on role of community banks, card payments systems and agriculture based lending
Bernanke: Fed needed more tools to confront crisis
Federal Reserve’s Bernanke expresses distaste at decisions made during the crisis to a Dallas crowd
Jilted bondholders can attack Argentine central bank’s assets: US court
US judge decrees central bank and government one entity and breaks dam guarding assets from unpaid creditors; central bank expected to appeal ruling
Hoenig calls for Fed to lean against the wind
Kansas City Fed president challenges fundamental tenet of Greenspan-era central bank
Philly Fed: US export growth could have been greater in the 90’s
Philadelphia Federal Reserve study finds that movement of labour to smaller firms prevented greater export growth
Fed minutes note pickup in labour, credit conditions
Minutes of the Federal Open Market Committee’s last meeting acknowledge signs of life in the US economy, but Kansas chief Thomas Hoenig dissents on low rates pledge
Greenspan deflects blame during heated testimony
Former Federal Reserve chairman Alan Greenspan defends record but accepts some criticism
Greenspan defends position on free market
Former Fed Chairman deflects criticism over adherence to Ayn Rand's views on laissez-faire capitalism
Interview: Hervé Ferhani
Hervé Ferhani, a deputy director at the IMF, discusses how the role of central banks will change post crisis
NY Fed displays Maiden Lane holdings
New York Fed opens up on holdings of Bear Stearns and AIG bailout vehicles, provides details to improve access to information
Fed’s Duke warns community banks are under threat
Governor Elizabeth Duke highlights some of the dangers posed by troubled real estate markets on community banks
British bonds rest on “a bed of nitroglycerine”: Pimco chief
Head of biggest bond fund sees investors penalising gilts as British attachment to quantitative easing stirs worry that government seeks to inflate debt away
Richmond Fed appoints new head of supervision
Jennifer Burns succeeds Malcom Alfriend as senior vice-president at Richmond Fed
NY Fed’s Sack warns of excessive reforms
New York Fed’s Brian Sack discusses lessons from the crisis but cautions reforms may be superfluous
Property woes will force more bank bailouts: economist
Officials right to flag risks posed by commercial real estate but Washington must also present a clear message on how to deal with the issue
Boston Fed measures effect of equity extraction on consumption
Boston Fed research shows equity extraction as significant driving force for consumption during US housing boom
Goodfriend: interest on reserves best exit policy
Marvin Goodfriend offers Congress advice on how to exit from the Fed’s accommodative stance without disrupting markets
Warsh acknowledges Fed’s quasi-fiscal action
Governor suggests Fed’s crisis-fighting measures may have tested the boundaries of central bank’s ambit
Philly Fed: banking sector returns to profit
Report for fourth quarter notes bank failures also dropped
$500 billion reserve drain made crisis worse: IMF’s Ferhani
Deputy director says IMF research shows central bank reserve managers withdrew $500 billion from deposits at commercial banks during crisis
Central banks, not debt will kill growth: economist
Independent economist Roger Nightingale charges that debt on its own is not incompatible with growth, but raising rates will kill growth
Fed: credit availability increases among consumers
Federal Reserve director discusses developments in credit scoring study with Congress
Fed’s Kohn attacks higher inflation targets
Federal Reserve vice chairman also dismissive of price-level targeting; admits central bankers were “a little complacent” pre-crisis
Fed: smaller optimal weight should be placed on rental price inflation
San Francisco Fed paper suggests that nature of rental prices warrants change in the way inflation is measured