United States
Multi-family subprime borrowers should owe less
Multi-family property owners with subprime mortgages should receive a writedown of a proportion of the principal balance on their loan, argues a new paper from the Federal Reserve Bank of Atlanta.
US demand for loans weakens further
Businesses and households' demand for loans continues to weaken, shows the latest edition of the Federal Reserve's quarterly Senior Loan Officer Survey.
Fed holds on Treasury issue, flags deflation risk
The Federal Open Market Committee (FOMC) said that it could buy longer-term Treasury securities, but only if market conditions were right. The committee also acknowledged that inflation may fall to "below rates that best foster growth and stability".
US liquidity impacts eurozone inflation
Excessive liquidity in the United States weakens the effectiveness of monetary policy in the euro area, a new paper from the International Monetary Fund posits.
St Louis Fed elects new chair
The St Louis Federal Reserve has named Steven Lipstein, the president and chief executive of BJC HealthCare, the chair of its board for the coming year.
Education pays more in the US than Canada
Education has more impact on pay in the United States than in Canada, posits research from the Bank of Canada.
What Washington needs to do next: Ex-Fed's Posen
Adam Posen, a deputy director at the Peterson Institute, a research body, and a former economist at the New York Fed, tells CentralBanking.com why the US administration must be bold, coherent and forceful in dealing with the toxic assets which litter…
Dudley takes helm at NY Fed, Geithner sworn in
William Dudley, the executive vice president of the markets group at the New York Federal Reserve, is to succeed Tim Geithner as president of the central bank after Geithner was sworn in as US Treasury secretary on Monday.
China "notes" Geithner renminbi claims
An official at the People's Bank of China has said the central bank had noted US Treasury secretary designate Tim Geithner's claims that President Barack Obama believes Beijing is manipulating the renminbi to boost exports.
Was subprime possible to predict?
Research by the Boston Federal Reserve finds that market participants should have predicted the steep rise in foreclosures that occurred in 2007 and 2008.
Tarp needs "serious reform": Geithner
The Troubled Asset Relief Plan (Tarp) needs a fundamental overhaul, Tim Geithner, the US treasury-secretary designate who as head of the New York Fed was closely involved with the original bailout package, told lawmakers on Wednesday.
SWF nations poor on governance: SF Fed's Glick
A considerable gulf exists between the governance standards of the economies in which sovereign wealth funds have been established and the standards of the industrial economies in which they are seeking to invest, a paper co-authored by Reuven Glick, the…
Mary Schapiro: Here Comes the Sun
In recent months, the US Securities and Exchanges Commission (SEC) has been on the receiving end of severe criticism. Mark Berman, a former SEC lawyer who leads CompliGlobe Ltd, a London-based consultancy specialising in financial regulation and…
Monetary policy should consider intermediaries
The size of the balance sheets of market-based financial intermediaries are important macroeconomic state variables for monetary policy, finds a paper published by the New York Federal Reserve.
BoA rescued as Congress grants $350bn for Tarp
Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…
Hard-to-value assets halt investment - Fed's Kohn
The large quantity of hard-to-value assets remaining on financial institutions' balance sheets is acting as a barrier to private investment, said Donald Kohn, the vice-chairman of the Federal Reserve.
Fed's Beige Book reports weakening activity
The latest edition of the Federal Reserve's Beige Book, a guide to business conditions in the 12 districts overseen by the regional Feds, indicates that economic activity continued to weaken in December across the country.
Recovery to begin in 2009 - Philadelphia's Plosser
President of the Philadelphia Fed Charles Plosser sees the economy starting to slowly recover in the second half of 2009.
Anti-Fed senator behind Geithner nomination block
Jim Bunning, a Republican politician who last year labelled the Federal Reserve "a leading cause of the mess we're in", is one of two senators attempting to block Tim Geithner becoming Treasury Secretary on Friday.
Lacker pans Fed for risky "fiscal" action
A regional Federal Reserve president has warned that the recent expansion of the Fed's balance sheet is fraught with risks.
Philadelphia Fed promotes five vice presidents
The Philadelphia Federal Reserve has promoted one of its staff to the role of executive vice president, two to the role of senior vice president, and two to vice presidential positions.
Bernanke revisits idea of toxic asset purchases
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday mooted several ways in which American authorities could remove toxic assets from banks' balance sheets. He also said that more capital injections and guarantees may be required to ensure…
Fed's Kroszner to step down later this month
Randall Kroszner, a governor at the Federal Reserve, will leave the institution on 21 January to return to academia.
Paper charts changes in US retail payments
The Kansas City Federal Reserve has published research covering changes to the American retail payments system, which is now is in the midst of a transformation.