Federal Reserve System
San Fran's Yellen on lessons from Japan
"Clear and strong commitments about the future stance of policy" are important when policy rates approach zero and there is fear of deflation, noted Janet Yellen in an Economic Letter reflecting on lessons from Japan's lost decade.
Assets are better kept with SWFs
Countries with a large foreign asset base tend to establish sovereign wealth funds as central banks' portfolio diversification tends is limited, says a new paper from the San Francisco Federal Reserve.
How high is inflation? Depends how you ask
Seemingly small differences in how inflation is referred to in a survey can lead respondents to consider significantly different price concepts, says a paper from the New York Federal Reserve.
A new model for long-run risks
A paper from the Kansas City Federal Reserve devises a model long-run risks model where inflation risks and volatilities are in line with survey data.
Explaining female labour participation
This paper by the Federal Reserve Bank of Boston examines the reasons for changes in the participation of married woman in the US labour market.
Fed floats bond issuance
The Federal Reserve is considering issuing its own bonds as a means to absorb the liquidity with which it has flooded markets as well as for fundraising purposes.
Fed's Kroszner on restoring confidence in MBS
Comprehensive and standardised loan-level data covering the entire pool of loans backing mortgage-backed securities (MBS) was needed so that the underlying credit quality could be analysed more easily, said Randall Kroszner, the governor of the Federal…
Indian governor on reducing global imbalances
If easy, quick and unconditional international liquidity was provided during a crisis, then emerging economies may not need to insure themselves by foreign reserves accumulation, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
How to unblock the credit markets
Cutting interest rates is increasingly ineffective. Central banks need to create market-making windows, argues Ronald McKinnon
Three essential questions for reforming finance
Barack Obama should appoint a commission to investigate what went wrong and guard against quick fixes, says Eugene White
Shell shocked: American finance in crisis
A legislative overhaul is coming. Robert Litan says a renewed focus on market discipline and the consolidation of regulatory authority are the priorities
New tools for central bankers?
The financial crisis has provided an opportunity to test the usefulness of new and previously unused policy instruments, argues Christopher Ragan
Forum: Tackling asset-price bubbles
Central Banking asked a select panel of former central bankers and advisors if the current crisis calls for a reevaluation of the policy response to asset prices
Would-be investors scarred by banking crises
Systemic banking crises have a severe impact on behaviour, finds a new paper form the Chicago Federal Reserve.
Fed's Plosser on crisis measures
Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, discusses the Fed's dramatic departures from textbook central banking during the crisis.
Don't forget inflation - Richmond's Lacker
Federal Reserves monetary policy needs to remain consistent and not allow inflation to accelerate over the business cycle, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Commodities have small impact on US inflation
The effects of crop and energy price movements on US inflation are smaller than commonly thought, finds a new paper from the New York Federal Reserve.
New York Fed starts search for Geithner successor
The New York Federal Reserve has set up a panel to search for a successor to Tim Geithner, the current president of the central bank who was last week announced as the new treasury secretary.
Fed governor on small business credit
Small businesses face difficulties in accessing credit, while at the same time credit demand from small business has declined, said Randall Kroszner, the governor of the Federal Reserve responsible for supervision.
Korea dips into Fed facility
The Bank of Korea is to tap the Federal Reserve for $4 billion as part of its $30 billion swap arrangement agreed at the end of last month.
Fed looks to boost lending by financing loans
The Federal Reserve on Tuesday looked to bolster bank lending by pledging to lend up to $200 billion against highly-rated securities backed by new consumer and business loans.
Fed's Bullard sounds knell on rate moves
With the effective federal funds rate trailing the Fed's target by more than 60 basis points and interbank spreads for longer-term loans remaining well above pre-crisis levels, one of the regional Federal Reserve presidents has acknowledged further rate…
UK houses price to fall: Fed
House prices in the United Kingdom will fall considerably in the near- to medium-term, finds a new paper from the Federal Reserve Board.