Federal Reserve System
Dollar at all-time low against euro after Fed cut
The greenback reached a record low against the euro following the Federal Open Market Committee's decision to cut rates by 25 basis points. At its peak, the euro was worth 1.4504 against the dollar on Thursday.
How monetary policy responds to uncertainty
Under conditions of uncertainty, optimal monetary policy responds more to price and wage inflation than to natural-rate terms, according to research published by the Federal Reserve.
The impact of innovation on systemic risk
The pace of financial innovation has led to an increasingly complex and interconnected financial system. But what effect does this have on systemic risk?
Fed cuts rates despite strong growth
The Federal Open Market Committee (FOMC) decided on Wednesday to cut the federal funds rate by 25 basis points to 4.5% in spite of better-than-expected economic growth for the third quarter.
Japan rate hike unlikely after unemployment rises
The Bank of Japan's plans to raise rates may have to be put on hold again after government data on Tuesday revealed a 0.2% increase in the unemployment rate.
Pressure rising over currency, says China's Yi
The contrast between US and Chinese monetary policy is exacerbating the pressure on the People's Bank of China to allow the renminbi to appreciate.
Discount cut can avoid moral hazard says Mishkin
Reducing the discount window rate does not exacerbate moral hazard so long as two conditions are satisfied, according to Frederic Mishkin, a governor of the Federal Reserve.
Fed's regulatory response to subprime revealed
Better consumer information, rules to address unfair lending practices and a more coordinated enforcement of consumer-protection laws are needed to prevent another subprime crisis, according to the Federal Reserve.
Policy solutions to crime and joblessness compared
Need to lower unemployment and crime? Then, according to the Cleveland Federal Reserve, the best policy is to introduce wage subsidies.
Fed signals support for superfund
A Federal Reserve official has said that the proposed $75 billion mortgage-securities superfund will help investors and credit markets.
Superfund will hamper pricing, Greenspan warns
Alan Greenspan, the former chairman of the Federal Reserve, has said that the $75 billion mortgage securities superfund, backed by Citigroup, JP Morgan Chase and Bank of America, could do more harm than good.
Headline or core? It's not either-or says Mishkin
Both core and headline measures of inflation have an important role in monetary policy decisions, said Frederic Mishkin, a member of the board of governors at the Federal Reserve.
Share options spur CEOs to take more risks
Granting employee stock options motivates CEOs of banking firms to undertake riskier projects, research published by the New York Fed has found.
Fed speculation prompts new dollar-euro low
The dollar fell to a record $1.432 against the euro on Thursday as poor macroeconomic data and results from one of the US's biggest banks prompted futures traders to speculate that the Federal Reserve will cut rates.
Buybacks in Treasury cash and debt management
The New York Fed has published a paper looking at the use and implications of buybacks in Treasury cash and debt management.
Competition found to impact bank risk
Banking stability may be undermined by competition, according to research published today by the San Francisco Fed.
September's cut has helped markets, says Bernanke
Ben Bernanke, the chairman of the Federal Reserve, said that September's 50-basis point cut has alleviated the credit crunch.
Relationships help for IPO performance
Investors prefer initial public offerings (IPOs) managed by relationship banks than similar ones managed by outside banks, according to research by the Chicago Federal Reserve.
Bernanke and Kohn commend monetary policy pioneer
Ben Bernanke, the chairman of the Federal Reserve, and Donald Kohn, the Fed's vice chairman, praised John Taylor, a professor at Stanford University, for his contribution to monetary policy.
Kroszner on the role of the Fed
Randall Kroszner, a member of the Federal Reserve's Board of Governors, listed the central bank's responsibilities with regard to monetary policy, supervision and consumer protection in a speech on Thursday.
Fed unanimously supported 50 basis point cut
All ten members of rate-setting Federal Open Market Committee (FOMC) were in favour of 50 basis point cut, the minutes of the 18 September meeting reveal.
King names lessons learned from crisis
Mervyn King, the governor of the Bank of England, said on Tuesday he had identified three lessons, so far, from the banking crisis.
Sales remain within Gold Agreement Limit
Gold sales by the 16 signatories to the Central Bank Gold Agreement between 27 September 2006 and 26 September 2007 amounted to 475.75 tonnes, 24.25 tonnes shy of the 500 limit, the Bank for International Settlements said on Wednesday.
Maintaining growth motivated cut - Fed's Kohn
A 50 basis point cut was necessary to keep the economy on a sustainable growth pace, said Donald Kohn, the vice chairman of the Federal Reserve.