Federal Reserve System
Economic outlook is worsening: Fed's Yellen
The United States economic growth outlook has weakened further since the Federal Reserve said that the risks to inflation and growth were balanced in late October, says Janet Yellen, the president of the San Francisco Federal Reserve.
We were transparent enough, say bankers
Investors were given all the information they required on structured products, a group of senior figures at top investment and commercial banks told UK lawmakers on Tuesday.
Banks cannot shun subprime borrowers: Rosengren
Eric Rosengren, the president of the Boston Federal Reserve, stressed on Monday the importance of continued availability of loans to subprime borrowers.
Central banks failing to calm interbank markets
Interbank borrowing costs in the sterling, euro and dollar money markets shot up on Monday in spite of attempts by central bankers last week to alleviate end-of-year jitters.
Boston Fed blames subprime on house price decline
In conducting what it calls "the first rigorous assessment of the homeownership experiences of subprime borrowers", the Boston Federal Reserve has found that the decline in house prices that began in the summer of 2005 is the factor most responsible for…
Subprime standardisation can help: Fed's Kroszner
Randall Kroszner, a Federal Reserve governor, said last Friday that he is hopeful efforts to standardise loan-modification options and processes for subprime loans will help lenders, investors, homeowners, and communities faced with potential mortgage…
Bernanke keeps door open for rate cut
The Fed chairman's concern over the effects of renewed turmoil in financial markets lent weight to expectations of a rate cut in December.
Jury still out on global saving glut theory
New research published by the Reserve Bank of Australia finds limited support for the argument that financial crises have contributed to the current-account surpluses in developing economies.
Old Lady changes tack and steps in with £10bn
The Bank of England said on Thursday that it would lend an extra £10 billion ($20.7 billion) at its benchmark bank rate to allay fears that interbank borrowing costs will shoot up over December.
Fed's forecasts have declined since early 1990s
The Federal Reserve's forecasts of inflation and output have deteriorated since 1991, research published by the Central Bank and Financial Services Authority of Ireland finds.
Fed aims to counter tensions with new operations
The New York Federal Reserve said on Monday that it will inject extra funds from now until the new year in a bid to counter "heightened pressures in money markets."
Japan's Nakamura expects further US housing woe
Seiji Nakamura, a member of the Bank of Japan's rate-setting board, has said that the chances of economic slowdown in the United States are rising as the subprime market slumps further.
Hoenig: US economy will "weather this storm"
Thomas Hoenig, the president of the Kansas City Federal Reserve and the only member of the Federal Open Market Committee to vote against the 31 October rate cut, said that he thought the effects of the credit crunch were unlikely to spread very far.
What we learn from the Fed's projections
As we look at the first of the Federal Reserve's enhanced economic projections, it is important to understand what they are and what they are not, says Stephen Cecchetti, the Rosenberg Professor of Global Finance at Brandeis International Business School.
The trip to transparency
The Fed's decision to increase the frequency and volume of its economic projections is another welcome step towards transparency under Ben Bernanke's stewardship. But it still has a way to go before catching up to the other major central banks, says…
Fed releases first revamped economic projections
The Federal Reserve on Tuesday published the first of its revised economic forecasts as part of the minutes of the 31 October rate-setting meeting.
Fed's Stern cautions on response to turmoil
Rating agency reform in the wake of the subprime debacle could cost the economy more than doing nothing, Gary Stern, the president of the Minneapolis Federal Reserve, has warned.
Koruna's rise unsustainable - Czech's Tuma
Zdenek Tuma, the governor of the Czech National Bank, has described the koruna's appreciation against the euro and dollar as unsustainable.
US subprime conditions set to worsen - Kroszner
Randall Kroszner, a governor of the Federal Reserve, warned on Friday that conditions in the US mortgage market had yet to reach rock bottom. Speaking in New York, Kroszner said that there were two reasons why he believed market conditions would worsen:…
Fed makes biggest injection since 9/11
The New York Federal Reserve injected $47.25bn on Thursday, the biggest daily amount since 19 September 2001, but got most of it back as previous repos matured.
Fed to offer more insight into decision making
The Federal Reserve is to give the public more insight into how the rate-setting Federal Open Market Committee (FOMC) decides on monetary policy.
Basel II will strengthen US markets: Kroszner
Basel II's introduction will enhance financial stability in the United States, says Randall Kroszner, the governor responsible for regulation at the Federal Reserve.
Scrap agencies' role in Basel: ex-UK rate-setter
Basel II needs to go back to the drawing board before it is even out of the blocks because of rating agencies' influence in the framework, says Willem Buiter, a former member of the Bank of England's monetary policy committee, now a professor at the…
Central Banking in the USA
Michael Woodford talks to Malan Rietveld about how the Federal Reserve makes monetary policy