United States
All US states contract for first time on record
The economies of all of the 50 American states shrank in February for the first time since records began in January 1979.
Soros urges G20 to agree on SDR reallocation
George Soros, one of the world's most renowned hedge-fund managers, has called on G20 leaders to endorse the reallocation of rich country's SDR quotas with the International Monetary Fund (IMF).
Limits to safety net support - Richmond's Lacker
It is of paramount importance to clearly define the boundaries of future safety net support, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Goodfriend: Fed's fiscal statement does not go far enough
The Federal Reserve's attempt to clarify its stability role is a move in the right direction, but must be improved upon
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
Atlanta's Lockhart: exports won't save US
Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, does not expect a sudden return of exports as a driver of recovery in the United States in the remainder of 2009.
Geithner outlines regulatory overhaul
Tim Geithner, the US Treasury secretary, sounded the knell of light-touch regulation on Thursday, outlining a reform agenda that if passed will see a single systemic-risk supervisor clamp down on all financial firms deemed either too big, or too…
Geithner open to Zhou suggestion, but backs buck
Tim Geithner, the US Treasury secretary, said on Wednesday that he was open to People's Bank of China governor Zhou Xiaochuan's suggestion of expanding the use of special drawing rights (SDRs) but affirmed the dollar's strength.
AIG cited as case for shadow-bank rules
The American International Group (AIG) situation highlights the need for strong, effective consolidated supervision of all systemically-important financial firms, said Ben Bernanke, the chairman of the Federal Reserve.
US still has more influence than trade suggests
Regardless of the emergence of large economic players, like China, United States' influence on other economies remains larger than direct trade ties would suggest, a new paper from the European Central Bank shows.
Fed sets boundaries for stability role
The Federal Reserve sought to clarify its role as a guardian of financial stability on Monday in an attempt to avoid taking what one regional Fed president has labelled "risky" fiscal action.
Geithner bailout meets with mixed reviews
The markets loved it. But economists' reaction to US Treasury secretary Tim Geithner's public-private partnership to relieve banks of their toxic assets was more critical.
Bernanke wants shadow-bank failure framework
A resolution regime for systematically-important non-bank financial entities is needed, said Ben Bernanke, the chairman of the Federal Reserve.
Globalisation accelerated IMF's reaction
The pace of the International Monetary Fund's (IMF) crisis responses has increased with the rise of financial globalisation, a new research from the Central Bank of Chile shows.
A labour model for inflation dynamics
A model with sticky nominal wages and right-to-manage bargaining best captures the response of inflation to nominal labour shocks, a new paper from the Philadelphia Federal Reserve posits.
Fed feedback: bombshell welcomed but some concern
Reaction to the Federal Open Market Committee's decision to buy Treasuries has been broadly positive but some are concerned by the apparent rashness of a decision about which Fed officials had given scant indication.
Phillips curve remains an enigma
The understanding of what underlies the correlation between unemployment and the inflation rate is constantly changing, a new paper from the Richmond Federal Reserve.
Fed to buy Treasuries
The Federal Open Market Committee said on Thursday that it will buy up to $300 billion in Treasuries and an additional $750 billion of agency mortgage-backed securities. It will also invest an additional $100 billion in agency debt.
How the US can abate anger at bankers' bail-out
Brendan Brown, the chief economist at Mitsubishi UFJ Securities, offers two remedies to temper public outrage at the bail-out of Wall Street.
A new monetary policy for the Fed
Jane D'Arista, an economist, has proposed a new countercyclical method of monetary control to enhance the Federal Reserve's ability to respond to credit contractions and expansions, in a new paper published by the University of Massachusetts Amherst.
Stiglitz laments US's "bogus" bailouts
Joseph Stiglitz, the 2001 Nobel Laureate, tells CentralBanking.com why the US administration must set up its own lender and stop pandering to the banks if it is to fix the economy.
Bernanke admits Fed failed in regulatory role
Ben Bernanke, the chairman of the Federal Reserve, has acknowledged that the central bank could have done a better job in preventing the financial crisis.
New measures for housing inflation needed
Policymakers lack appropriate measures of inflation for the market in owner-occupied housing services, argues a new paper form the Philadelphia Federal Reserve.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.