Federal Reserve System
Foreclosures a worry in NY state
The number of home mortgages in foreclosure in upstate New York continues to be a concern, notes a report from the New York Federal Reserve.
Long-run forecasts a good anti-deflation tool
The Federal Open Market Committee's new long-run inflation forecast reduces the chance of a deflationary spiral, a new paper form the San Francisco Federal Reserve posits.
Agenda set for derivatives industry
A meeting at the New York Federal Reserve on Wednesday of the major players in the over-the-counter derivatives market culminated in a four-point agenda for the industry.
All US states contract for first time on record
The economies of all of the 50 American states shrank in February for the first time since records began in January 1979.
Monetary union could improve British stability
The British economy's stability would be enhanced by euro adoption, a new paper from the St Louis Federal Reserve posits.
Mexico may tap Fed, IMF credit lines
Felipe Calderon, Mexico's president, said on Tuesday that the country was eligible to take a $40 billion credit line with the International Monetary Fund (IMF) as speculation mounted that the Bank of Mexico would soon use its $30 billion arrangement with…
Limits to safety net support - Richmond's Lacker
It is of paramount importance to clearly define the boundaries of future safety net support, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Goodfriend: Fed's fiscal statement does not go far enough
The Federal Reserve's attempt to clarify its stability role is a move in the right direction, but must be improved upon
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
Atlanta's Lockhart: exports won't save US
Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, does not expect a sudden return of exports as a driver of recovery in the United States in the remainder of 2009.
AIG cited as case for shadow-bank rules
The American International Group (AIG) situation highlights the need for strong, effective consolidated supervision of all systemically-important financial firms, said Ben Bernanke, the chairman of the Federal Reserve.
Fed sets boundaries for stability role
The Federal Reserve sought to clarify its role as a guardian of financial stability on Monday in an attempt to avoid taking what one regional Fed president has labelled "risky" fiscal action.
Bernanke wants shadow-bank failure framework
A resolution regime for systematically-important non-bank financial entities is needed, said Ben Bernanke, the chairman of the Federal Reserve.
A labour model for inflation dynamics
A model with sticky nominal wages and right-to-manage bargaining best captures the response of inflation to nominal labour shocks, a new paper from the Philadelphia Federal Reserve posits.
Phillips curve remains an enigma
The understanding of what underlies the correlation between unemployment and the inflation rate is constantly changing, a new paper from the Richmond Federal Reserve.
How the US can abate anger at bankers' bail-out
Brendan Brown, the chief economist at Mitsubishi UFJ Securities, offers two remedies to temper public outrage at the bail-out of Wall Street.
A new monetary policy for the Fed
Jane D'Arista, an economist, has proposed a new countercyclical method of monetary control to enhance the Federal Reserve's ability to respond to credit contractions and expansions, in a new paper published by the University of Massachusetts Amherst.
Stiglitz laments US's "bogus" bailouts
Joseph Stiglitz, the 2001 Nobel Laureate, tells CentralBanking.com why the US administration must set up its own lender and stop pandering to the banks if it is to fix the economy.
Bernanke admits Fed failed in regulatory role
Ben Bernanke, the chairman of the Federal Reserve, has acknowledged that the central bank could have done a better job in preventing the financial crisis.
New measures for housing inflation needed
Policymakers lack appropriate measures of inflation for the market in owner-occupied housing services, argues a new paper form the Philadelphia Federal Reserve.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.
Fed's Braunstein urges caution on lending rules
Any new laws on lending practices need to carefully target abuses without unduly restraining responsible credit, said Sandra Braunstein, the director of the division of consumer and community affairs of the Federal Reserve.
AIG cutting costs, Bernanke assures senator
Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to…
NY Fed names new senior VP for cash and custody
James Narron is the new senior vice president responsible for the cash and custody function at the New York Federal Reserve.