Federal Reserve Bank of Minneapolis
Minneapolis Fed launches too-big-to-fail plan
The four-step plan proposes stricter capitalisation rules for big banks and looser regulation for smaller institutions
Market structure affects monetary neutrality – paper
Minneapolis Fed research finds oligopoly undermines the neutrality of money, amplifying the real impact of monetary shocks
US income inequality boosted by top 0.01% – research
Income via “pass-through businesses” is a great contributor to top inequality
US economy would have performed better without rate hikes – Kashkari
Minneapolis Fed president says Fed should not raise rates until 2% inflation target has been reached; removal of accommodation has negatively affected inflation expectations
Sovereign debt crises hit non-tradable sectors harder
A 1% increase in bond spreads is associated with an average decline of 3% in growth of zero-traded industries
Lower monthly quotas effective at preventing mortgage defaults
60% of US defaults during financial crisis caused by lack of ability to pay, paper finds
Fed rate hikes may be damaging the economy – Kashkari
Neel Kashkari says low inflation may be the result of tighter policy
Big data sheds light on income risk – Minneapolis Fed research
Better sources of data have allowed economists to gain new insights into how income risk changes over the cycle, says researcher
Kashkari chooses between ‘faith and data’
Minneapolis Fed president says FOMC should have waited to see if inflation rise was transitionary before raising rates in June
Kashkari: Fed should not seek to deflate asset bubbles
Spotting bubbles is too difficult and the costs of failure too great, the Minneapolis Fed chief warns, although he concedes raising interest rates remains an emergency option
Kashkari has inflation concerns about bitcoin
The potential of digital currencies lies with underlying infrastructure, Minneapolis Fed president says; the Fed is “paying attention” to the issue
Kashkari rejects Dimon’s claims on too big to fail
Minneapolis Fed chief rebuts assertion by JP Morgan CEO that US banks are no longer too big to fail; says capital is too low, not too high
Time to shrink Fed’s $4.5 trillion balance sheet, say presidents
Cleveland Fed president is “comfortable” changing reinvestment programme this year; balance sheet plan should be published as soon as possible, says Kashkari
Kashkari explains his sole FOMC dissent
Minneapolis chief reminds his colleagues the Fed treats 2% inflation as a target, not a ceiling; urges FOMC to publish plan for shrinking balance sheet
People: uncertainty over Tetangco’s future; Minneapolis Fed appoints new COO and head of research
Future of Philippines governor unclear; Minneapolis Fed poaches Chicago Fed researcher and appoints COO
Minneapolis Fed launches new research institute
“Opportunity and inclusive growth institute” will draw on multiple disciplines to extend the Fed’s research
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Fed members differ on monetary policy, as Trump again attacks Yellen
Rosengren calls for “modest, gradual tightening”, while Kashkari sees slack in labour market; Republican candidate questions Fed’s political impartiality
Minneapolis Fed to explore resolution alternatives in TBTF initiative
Neel Kashkari adds alternative resolution mechanisms to the agenda as Minneapolis Fed looks for solutions to the too-big-to-fail problem; discusses outcomes from this month’s symposium
Fed’s Kashkari: more needs to be done to end too-big-to-fail
Minneapolis Fed president says 'transformational' approaches, such as breaking up the largest banks, should be given “serious consideration” in quest to end too-big-to-fail
People: Patel reappointed RBI deputy; Kocherlakota moves to University of Rochester
RBI deputy Urjit Patel gets second three-year term; Narayana Kocherlakota takes up economics chair at University of Rochester; Canadian governor to head BIS’s consultative council for the Americas
Neel Kashkari to head Minneapolis Fed from 2016
Federal Reserve Bank of Minneapolis reveals Neel Kashkari will succeed Narayana Kocherlakota as president; past experience includes oversight of Troubled Asset Relief Program
Minneapolis Fed president open to cutting rates
Narayana Kocherlakota stresses room for improvement in US labour market, noting low inflation could give the Fed space to pursue more accommodative policy
Fed policy has ‘little impact’ on labour market, paper says
Paper published by Minneapolis Fed argues there is little the Fed can do to restore the level of employment relative to the population that prevailed before the crisis