Federal Reserve System
Norway keeps rates at 5.25%, warns on prices
The Bank of Norway's rate-setting board on Wednesday left its key policy rate unchanged at 5.25%, despite concern over inflation.
Banks must be scolded, not helped, by the Fed
Monetary and regulatory policy should be about reinforcing solid conduct in financial markets and punishing bad behaviour. But the recent rate cut from the Fed does little of the sort, says Avinash Persaud, the chairman of Intelligence Capital, a…
Fed slashes rates by 75 basis points
The Federal Open Market Committee (FOMC) on Tuesday lowered rates by 75 basis points to 3.5%, the biggest cut since autumn 1984.
Canada cuts rates by 25 basis points to 4%
The Bank of Canada's rate-setting board opted on Tuesday to lower its benchmark overnight rate by 25 basis points to 4%.
Bank governance strengthened by independence
Independent directors at commercial banks can provide an important internal governance mechanism for protecting shareholders' interests especially in large-scale transactions such as mergers and takeovers, research published by the Kansas City Federal…
Tony Solomon, former NY Fed president, dies
Anthony M. Solomon, a former president of the Federal Reserve Bank of New York, died last Friday, at the age of 88.
Fisher urges Fed to avoid "trigger-happy" cuts
Having an itchy trigger finger with monetary policy risks shooting everyone in the foot, said Richard Fisher, the president of the Dallas Federal Reserve.
Poor growth will curb inflation: Fed's Pianalto
The impact of the housing crisis on the rest of the United States economy will help dampen price hikes, says Sandra Pianalto, the president of the Cleveland Federal Reserve.
Fed must "respond pragmatically" to poorer outlook
Policymakers must be prepared to respond pragmatically to a recent bout of worse-than-expected data on the United States economy, said Dennis Lockhart, the president of the Atlanta Federal Reserve and a non-voting member of the Federal Open Market…
Fed's Bernanke supports fiscal package
Ben Bernanke, the chairman of the Federal Reserve, told United States lawmakers on Thursday that he would support plans for a fiscal package to encourage growth so long as it was implemented quickly, was efficient and was temporary.
Fed's Beige Book charts modest growth increase
The latest edition of the Federal Reserve's Beige Book, published on Wednesday, suggests a slowdown in the pace of growth during November and December.
IMF to review central bank response to turmoil
The International Monetary Fund (IMF) is set to investigate the reaction of leading central banks to the interbank turmoil that hit markets in the wake of the subprime crisis.
Canadian banks may not match central bank cut
Some of Canada's biggest commercial banks say they are considering leaving borrowing rates unchanged even if, as expected, the Bank of Canada cuts rates next Tuesday.
Paper highlights influence of Taylor rule
The rise in influence of the Taylor rule, which shows how monetary policy should adjust to ensure growth and inflation remain near target levels, played an important part in the shift towards a more transparent, more independent era of central banking,…
Fed and BoE auction results show interbank easing
Tensions in money markets showed further signs of abating on Tuesday after the Federal Reserve and the Bank of England revealed the results of their latest open-market operations.
Greenspan joins Paulson & Co
Alan Greenspan, a former chairman of the Federal Reserve, is set to advise Paulson & Co, a hedge fund which made billions last year from betting against the United States housing market.
Hawkish Hoenig stresses inflation risks
The likelihood of a recession in the United States is smaller than others are suggesting, says Thomas Hoenig, the president of the Kansas City Federal Reserve.
Central banks with dual role face tough choices
Central banks, such as the Federal Reserve, with the dual mandate of maintaining price stability and economic growth, should not give equal weight to their inflation and unemployment goals, a study by the Kansas City Federal Reserve finds.
Injections were vital: Deutsche Bank's Ackermann
Central banks' liquidity injections were crucial in averting the collapse of financial institutions, said Josef Ackermann, the chairman of Deutsche Bank.
Fed ready to act on worsening outlook: Bernanke
The Federal Reserve looks set to cut rates further after its chairman, Ben Bernanke, said central bank policy would look to counter the increasing risk of an economic slowdown.
France renews onslaught on ECB policy
The French government has resumed its campaign calling for the European Central Bank (ECB) to cut rates.
Fed's Rosengren calls for banks to declare losses
Banks must fully disclose their losses to limit the damage of the subprime fallout, says Eric Rosengren, the president of the Boston Fed.
Fed's Plosser stays hawkish on rates
Charles Plosser, the president of the Philadelphia Federal Reserve and a voting member of the rate-setting Federal Open Market Committee (FOMC), hinted that he would back a rate hold when the committee meets later this month.
Fed pledges more cash to combat interbank woe
In a bid to further ease money market tensions, the Federal Reserve said on Friday that it will increase the amount of extra funds on offer through its additional open market operations after both of its December auctions were heavily oversubscribed.