Federal Reserve System
NY Fed's Dudley: the Tips are good
The benefits of the treasury inflation protected securities (Tips) programme exceed its costs, said William Dudley, the president of the Federal Reserve of New York.
Geithner unveils sweeping Tarp overhaul
Timothy Geithner, the secretary of the US Treasury, has announced plans to take up to $500 billion in bad assets off the books of struggling banks and expand the Federal Reserve's programme to support asset-backed securities to $1 trillion from the…
What to look for in Tarp II
Tim Geithner, the US Secretary of the Treasury, has delayed unveiling the plans for the next steps in administration's financial bailout programme until Tuesday. Here is a summary of the new steps that could be announced tomorrow.
Fed still has weapons - Yellen
Janet Yellen, the president of the Federal Reserve Bank of San Francisco, says the Fed still has weapons left in its arsenal to address a "severely depressed" economy.
Ferguson, Feldstein join Volcker recovery panel
Martin Feldstein, a Harvard professor; Roger Ferguson, a former vice chairman at the Federal Reserve, and William Donaldson, a former SEC chairman, will join the economic recovery panel headed by Paul Volcker, a former chairman of the Fed.
Italy investigates retail payments trends
The Bank of Italy is surveying the outsourcing of technological services associated with the provision of electronic retail payment services.
Richmond Fed's Charlotte office gets new head
Matthew Martin, an economist at the Richmond Federal Reserve, has been promoted to the role of senior vice president responsible for the Fed's Charlotte branch.
Multi-family subprime borrowers should owe less
Multi-family property owners with subprime mortgages should receive a writedown of a proportion of the principal balance on their loan, argues a new paper from the Federal Reserve Bank of Atlanta.
US demand for loans weakens further
Businesses and households' demand for loans continues to weaken, shows the latest edition of the Federal Reserve's quarterly Senior Loan Officer Survey.
Fed holds on Treasury issue, flags deflation risk
The Federal Open Market Committee (FOMC) said that it could buy longer-term Treasury securities, but only if market conditions were right. The committee also acknowledged that inflation may fall to "below rates that best foster growth and stability".
St Louis Fed elects new chair
The St Louis Federal Reserve has named Steven Lipstein, the president and chief executive of BJC HealthCare, the chair of its board for the coming year.
Dudley takes helm at NY Fed, Geithner sworn in
William Dudley, the executive vice president of the markets group at the New York Federal Reserve, is to succeed Tim Geithner as president of the central bank after Geithner was sworn in as US Treasury secretary on Monday.
ECB officials signal reluctance to cut to zero
Two senior officials at the European Central Bank (ECB) have indicated that the Frankfurt-based institution remains reluctant to follow the Federal Reserve's lead in cutting rates to near zero.
Labour markets matter for ECB policy
Disturbances in the wage-bargaining process are a significant contributor to inflation and output fluctuations in euro-area, a paper from the Philadelphia Federal Reserve finds.
Was subprime possible to predict?
Research by the Boston Federal Reserve finds that market participants should have predicted the steep rise in foreclosures that occurred in 2007 and 2008.
Tarp needs "serious reform": Geithner
The Troubled Asset Relief Plan (Tarp) needs a fundamental overhaul, Tim Geithner, the US treasury-secretary designate who as head of the New York Fed was closely involved with the original bailout package, told lawmakers on Wednesday.
Inflation dynamics uncovered
A new paper from the Kansas City Federal Reserve examines the dynamics of various measures of national, regional and global inflation.
France to ECB: lead charge for derivatives market
Christine Lagarde, the French finance minister, has called on the European Central Bank to spur efforts to set up a eurozone-wide financial infrastructure for derivatives, further scuppering US efforts to create a global market for the instruments.
SWF nations poor on governance: SF Fed's Glick
A considerable gulf exists between the governance standards of the economies in which sovereign wealth funds have been established and the standards of the industrial economies in which they are seeking to invest, a paper co-authored by Reuven Glick, the…
Monetary policy should consider intermediaries
The size of the balance sheets of market-based financial intermediaries are important macroeconomic state variables for monetary policy, finds a paper published by the New York Federal Reserve.
BoA rescued as Congress grants $350bn for Tarp
Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…
Hard-to-value assets halt investment - Fed's Kohn
The large quantity of hard-to-value assets remaining on financial institutions' balance sheets is acting as a barrier to private investment, said Donald Kohn, the vice-chairman of the Federal Reserve.
Fed's Beige Book reports weakening activity
The latest edition of the Federal Reserve's Beige Book, a guide to business conditions in the 12 districts overseen by the regional Feds, indicates that economic activity continued to weaken in December across the country.
Recovery to begin in 2009 - Philadelphia's Plosser
President of the Philadelphia Fed Charles Plosser sees the economy starting to slowly recover in the second half of 2009.