Federal Reserve System
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.
Anti-Fed senator behind Geithner nomination block
Jim Bunning, a Republican politician who last year labelled the Federal Reserve "a leading cause of the mess we're in", is one of two senators attempting to block Tim Geithner becoming Treasury Secretary on Friday.
Lacker pans Fed for risky "fiscal" action
A regional Federal Reserve president has warned that the recent expansion of the Fed's balance sheet is fraught with risks.
Philadelphia Fed promotes five vice presidents
The Philadelphia Federal Reserve has promoted one of its staff to the role of executive vice president, two to the role of senior vice president, and two to vice presidential positions.
Bernanke revisits idea of toxic asset purchases
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday mooted several ways in which American authorities could remove toxic assets from banks' balance sheets. He also said that more capital injections and guarantees may be required to ensure…
Fed's Kroszner to step down later this month
Randall Kroszner, a governor at the Federal Reserve, will leave the institution on 21 January to return to academia.
Paper charts changes in US retail payments
The Kansas City Federal Reserve has published research covering changes to the American retail payments system, which is now is in the midst of a transformation.
New York Fed names nine new vice presidents
The New York Federal Reserve has promoted three of its staff to the role of senior vice presidents and six to vice-presidential positions.
The cure's the real challenge, not the disease
The greatest challenge for the American economy is not just the recession but how we choose to address it, Thomas Hoenig, the president of the Kansas City Federal Reserve, has said.
Explaining America's Great Inflation
Acceleration of US inflation in the 1960s caused by Bretton Woods the exit and the Treasury's role in defending the dollar, say Michael Bordo and Barry Eichengreen, in a new paper.
How individuals remit funds internationally
A research briefing from the Federal Reserve Bank of Kansas City describes means by which individuals make international remittances.
How Fed decisions impact share prices
The Federal Reserve's interest rate decisions impact equity prices around the globe. However, the impact varies considerably between firms. Research from the Fed uncovers several factors which account for these variations.
Regional Feds announce new chairmen
Three of the 12 regional Federal Reserves have named new chairmen for their boards of directors in 2009.
Fed not out of ammo, says SF's Yellen
The Federal Reserve still has the tools to stimulate the economy even with interest rates at next to zero, said Janet Yellen, the president of the San Francisco Fed.
Obama nominee underlines change at the Fed
The nomination of Daniel Tarullo, law professor at Georgetown University and regulation expert, to the Board of Governors of the Federal Reserve provides early evidence of the way the central bank is being reshaped in the aftermath of the financial…
Fed announces January start to MBS programme
The Federal Reserve on Tuesday announced that it will start the operations of its programme to purchase mortgage-backed securities (MBS) in early January.
Fed paper on subprime mortgages
This Federal Reserve working paper models the historical default and prepayment behaviour for subprime mortgages using data on securitised mortgages originated from 2000 to 2007.
GM finance arm gets TARP funding
The finance arm of General Motors, the embattled US automaker, has received financial support under the US Treasury's Troubled Assets Relief Programme (TARP) after gaining approval from the Federal Reserve to become a bank holding company.
Crisis calls for revision of LOLR role: economists
Central banks must broaden their remit as lenders of last resort in the wake of the crisis, two economists who advise central banks have said.
Fed further opens lending window
The Federal Reserve has announced a new lending facility that will allow an even wider range of institutions - including hedge funds - to access loans by the central bank.