Federal Reserve System
Richmond Fed promotes branch officer
The Federal Reserve Bank of Richmond has announced that Steven T. Bareford has been named assistant vice president, Banking Supervision and Regulation, effective April 1, 2006.
Bernanke says derivatives make economy resilient
Federal Reserve Chairman Ben Bernanke said in a response made public on Wednesday 15 March to a senator's question that derivatives were being well-managed and had bolstered the US economy's resilience to shocks in recent years.
Liquidity provision in a model of payments
The Federal Reserve Working Paper "Alternative central bank credit policies for liquidity provision in a model of payments" explores alternative central bank policies for liquidity provision in a model of payments.
Fed's Olson: Are banks still special?
In the speech 'Are banks still special?' given on 13 March Mark Olson of the Federal Reserve said the line that divides banking from commerce is not a clear one and should be subject to "negotiated compromise" as markets and products change.
Comment: Yellen's 'long-run' inflation target
San Francisco Fed president, Janet Yellen, who has emerged as one of Ben Bernanke's strongest allies in the inflation targeting debate at the Fed, provided further insights into what she regards as the optimal design of such a framework in a speech on…
NY Fed welcomes derivatives commitments
The Federal Reserve Bank of New York said on Monday 13 March it welcomes the new commitments by 14 major market participants to continue their progress toward improving the infrastructure that supports the credit derivatives markets.
NY Fed's Geithner on U.S. monetary policy
In the speech 'U.S. monetary policy in the global financial environment' given on 9 March Timothy Geithner of the Federal Reserve Bank of New York said U.S. monetary policy may need to be tightened sufficiently to offset the downward pull on interest…
Illiquidity in the interbank payment system
The March 2006 New York Fed Staff Report "Illiquidity in the interbank payment system following wide-scale disruptions" shows how the interbank payment system can become illiquid following wide-scale disruptions.
Bernanke on community banking & bank supervision
In the speech 'Community banking and community bank supervision in the twenty-first century' given on 8 March Ben Bernanke of the Federal Reserve said the rapid growth in commercial real-estate loans made by community banks bears watching.
Fed Reserve Bank of St Louis Review, Mar/Apr 2006
The latest edition of the St Louis Fed's Review for Mar/Apr 2006 includes the article 'Macroeconomic news and real interest rates'. Economic news affects the perceptions of investors, forecasters, and policymakers about the strength or weakness of the…
Fed's Stern doesn't see inflation accelerating
According to this article published on Monday, 6 March Minneapolis Fed president Gary Stern is about as relaxed regarding inflation as a central banker can be.
Greenspan's memoirs sold to Penguin
Former Federal Reserve Chairman Alan Greenspan signed a deal on Tuesday to publish his memoirs with The Penguin Press.
Fed's Poole says more rate hikes may be needed
The U.S. economy has a "great deal of momentum" and the Federal Reserve may have to raise interest rates further, one of its top policymakers said on Monday 6 March.
Bush quietly reshaping the Fed
Few presidents have had the opportunity to shape the Federal Reserve the way President Bush has this year, according to this article published Friday. And once Bush replaces Ferguson, it says, four of the Fed's seven governors will have taken office in…
Fed veteran Kohn seen as candidate for No. 2 slot
According to this article published Thursday 2 March, Donald Kohn is seen as a top contender for the Federal Reserve's No. 2 spot. Kohn's connection with Alan Greenspan's largely successful tenure is likely to be seen as a plus within the White House, it…
Evolving perceptions of the European Central Bank
The New York Fed Staff Report "Establishing credibility: evolving perceptions of the European Central Bank" says the perceptions of a central bank's inflation aversion may reflect institutional structure or, more dynamically, the history of its policy…
Fed's Ferguson on the importance of education
In the speech 'The importance of education' given on 24 February Roger Ferguson of the Federal Reserve said an educated U.S. labour force is vital for economic health and prosperity.
Interview with Minneapolis Fed's Gary Stern
In an interview with MarketWatch conducted on Friday 3 March, Minneapolis Fed president Gary Stern said he supports a formal inflation target to "lock in" current good policy practices, but he doesn't see any urgency in making changes. Stern also gave an…
Fed's Kohn on regulatory relief
In testimony 'Regulatory relief' given on 1 March Donald Kohn of the Federal Reserve said the Federal Reserve will continue to be "a strong and active supporter" of legislative efforts to provide regulatory relief in the banking sector.
Fed's Olson calls for Gulf region creativity
Federal Reserve Board Governor Mark Olson said on Thursday2 March that banks in the storm-hit Gulf Coast region are going to have to come up with creative solutions in the effort to rebuild operations.
Comment: Communication and predictability
Two recent studies investigate the effects of more open communication strategies at both the Fed and the ECB on the predictability of subsequent interest rate decisions. The conclusions reached differ considerably.
Fed's Ferguson on the economic outlook for the US
In the speech 'Economic outlook for the United States' given on 3 March Roger Ferguson of the Federal Reserve said the US economy is "solidly on track" but faces risks that could alter both its path and the direction of interest-rate policy.
Greenspan moved markets less
According to the article 'Greenspan moved markets less as Poole, Kohn gained influence' published Wednesday, new research shows former Federal Reserve Chairman Alan Greenspan's speeches moved the bond market less in 2005 than in prior years as William…
Significant progress on global financial stability
Senior regulators, who met on Wednesday 1 March, said that progress had been made in improving the stability of the global financial system, but noted that much more needed to be done.