Federal Reserve System
Sarkozy and Merkel call for more transparency
Nicolas Sarkozy, the French president, and Angela Merkel, the German chancellor, said on Monday that hedge funds and rating agencies must face greater scrutiny.
Bernanke discusses US deficit
Ben Bernanke, the chairman of the Federal Reserve, explained why he thought the US current account deficit had grown so rapidly before saying that the deficit was likely to decrease in the years ahead.
A case for hedge fund regulation
The unique nature of hedge funds could lead to market failures that counterparty credit risk management (CCRM) practices cannot easily assess, according to an article published by the New York Federal Reserve.
Fed's Kroszner on the 1997 Asian crisis
Randall Kroszner, a governor of the Federal Reserve, said that he would "offer some thoughts about ways to analyse and assess the impact of banking crises on real economic activity."
Ex-Fed governor Gramlich dies
Former Federal Reserve governor Edward Gramlich has died of leukemia. He was 68. Gramlich served the Fed from 1997 to 2005.
Fed's Beige Book published
"Outside of real estate, reports that the turmoil in financial markets had affected economic activity during the survey period were limited," the Fed said in its latest "Beige Book" on economic conditions, featuring reports from the 12 regional Fed…
Japanese deputy discusses housing
Kazumasa Iwata, a deputy governor of the Bank of Japan, discussed links between the housing market and monetary policy at a symposium sponsored by the Federal Reserve Bank of Kansas City on 1 September.
OECD sings praises of central banks
Jean-Philippe Cotis, the chief economist of the OECD, had warm words for central banks Wednesday when he presented the organisation's interim assessment of the global economy in between the spring and autumn editions of the Economic Outlook.
Fed's Lacker "unconvinced" of need for cut
Jeffrey Lacker, the president of the Richmond Federal Reserve intimated that he was not yet convinced of the necessity for a cut in the Fed's overnight policy rate, and said that, although he would back a cut if necessary, he remained wary of inflation.
Fed Board's Mishkin writes on housing crisis
In a timely paper, Frederic Mishkin, one of five current members of the Federal Reserve's Board of Governors, has emphasised the importance of the housing industry on the US economy. Mishkin said: "The housing market is of central concern to monetary…
Bernanke keeps markets guessing
In a wide-ranging review of the causes of the turbulence in financial markets and the role of housing finance in triggering it, Ben Bernanke, the chairman of the Federal Reserve, committed the Fed to take action as needed to promote financial stability.
Trichet absent from Jackson Hole talks
Jean-Claude Trichet, the president of the European Central Bank (ECB), will not attend the Federal Reserve's Jackson Hole conference.
Japan unaffected by Fed decision says Mizuno
Atsuki Mizuno, a member of the Bank of Japan's monetary policy board, said Thursday a Federal Reserve rate cut would not stop a possible Japanese hike.
Notes on surviving illiquidity
The Cleveland Federal Reserve Board has published a paper that examines crashes and recoveries in illiquid markets.
Minutes highlight Fed's attitude shift
Minutes of the Federal Open Market Committee's (FOMC) last rate-setting meeting reveal optimism that the economy could weather turmoil in the money markets.
Borrowing from Fed at highest level since 9/11
Banks have borrowed an average of $1.2 billion a day from the Federal Reserve's discount window for the week ending 22 August. This is the third highest weekly amount of borrowing ever.
US Senator hints at cut after high level meeting
Christopher Dodd, a US senator, said Ben Bernanke, the chairman of the Federal Reserve, would use "all the available tools" to ensure markets remained liquid.
Action only if "real" impact - Fed's Lacker
Jeff Lacker, the president of the Richmond Federal Reserve, said on Tuesday that the Fed's reaction to the current bout of market volatility should depend on the effect it has on "real activity."
San Francisco Fed conference on Asian Crisis
The Federal Reserve of San Francisco will hold a conference and seminar series discussing the impact of the 1997 Asian financial crisis.
Paper on the new Keynesian Phillips curve
The Richmond Federal Reserve Paper, Inflation dynamics of the new Keynesian Phillips curve, derives the log-linear approximation of the inflation dynamics in the Calvo-model when the average inflation rate is positive.
Market optimism fades after Fed action
After the rally in US equity market of Friday continued in Asian and European markets after the weekend, Wall Street indexes were firmly back in the red by mid-day on Monday.
Poole replaced on Fed policy vote
In a surprise development, William Poole, the president of the St Louis Federal Reserve, did not vote on the Federal Open Market Committee (FOMC) policy announcement on recent market volatility.
Only 'calamity' justifies rate hike - Fed's Poole
William Poole, the president of the St Louis Federal Reserve, said the US economy may weather subprime woes and that only a "calamity" would lead to a rate cut before the next Federal Reserve meeting on 18 September.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…