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Two senior Federal Reserve officials raised concerns about further monetary easing on Thursday but only one — one of the Fed’s most consistent policy hawks — expressed firm opposition to a move.
Kansas City Federal Reserve Bank President Thomas Hoenig, who has dissented against the U.S. central bank’s extremely easy money policies at every meeting policy-setting meeting this year, was blunt in stating distaste for further Fed help. Get the full story »
The U.S. Federal Reserve should do “much more” monetary easing to spur a sluggish economic recovery, a top Fed official said in an interview published Tuesday.
“In the last several months I’ve stared at our unemployment forecast and come to the conclusion that it’s just not coming down nearly as quickly as it should,” Chicago Federal Reserve Bank President Charles Evans told the Wall Street Journal. Get the full story »
The Federal Reserve’s asset purchases lowered borrowing costs and helped the economy, and more buying could further ease financial conditions, Federal Reserve Chairman Ben Bernanke said on Monday.
“I don’t have a number to give you, but I do think that the additional purchases, although we don’t have precise numbers, have the ability to ease financial conditions,” Bernanke said. Get the full story »
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. economic recovery remains disappointingly slow with unemployment too high.
The Fed has a role to play in returning the economy health, he told teachers at a town-hall event.
“We certainly have in the near term and the medium term…some very difficult challenges,” he said. Get the full story »
American International Group Inc. laid out a plan on Thursday that sets the company on a path for an accelerated payback of taxpayer bailout money, but also increases the risk for the government.
The plan, which comes a little over two years after AIG was rescued from the brink of collapse, will see the Federal Reserve Bank of New York getting repaid in full and ending its involvement in AIG, leaving the company to deal with just the Treasury Department. Get the full story »
U.S. Federal Reserve officials on Wednesday offered differing views on whether the U.S. central bank should do more to support the economy and what impact more easing could have. Get the full story »
It’s something you don’t often hear from turf-conscious policymakers: Go ahead, curb our power. But that’s essentially what Charles Plosser, president of the Federal Reserve Bank of Philadelphia, made a case for Friday in remarks to a central banking conference in Zurich, Switzerland.
Former Federal Reserve chairman Paul Volcker told international banking regulators gathered in Chicago today that the “financial system is broken,” and said more oversight is needed from governments nationally and internationally.
The Federal Reserve said Tuesday it stood ready to provide additional support to bolster a modest economic recovery, suggesting it may be preparing to do more to keep unemployment from rising and prices from falling. Get the full story »
Two regional Federal Reserve banks, Kansas City and Dallas, pushed again for a modest increase in the rate charged to banks for emergency loans, according to minutes from an August policy meeting released Tuesday.
The Fed — the U.S. central bank — kept the discount rate unchanged at 0.75 percent at its Aug. 10 meeting. The Dallas and Kansas City Fed boards requested an increase to 1 percent, while the other 10 regional Fed banks sought no change. Get the full story »
A senior Federal Reserve policymaker said Monday it may be impossible to test new measures to limit systemic risk in the banking system before the next financial crisis.
St. Louis Fed President James Bullard said the credibility of too-big-to-fail elements in the sweeping financial reform bill rested on them being tested in practice. Get the full story »
A U.S. appeals court granted the Federal Reserve a 60-day delay in implementing a ruling to force the central bank to reveal details of its emergency lending programs to banks during the financial crisis. Get the full story »
Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
The viability of community banks is threatened by policies that have conferred “too big to fail” status on larger banks, reducing their cost of capital, Kansas City Federal Reserve Bank President Thomas Hoenig said on Monday.
Hoenig, in prepared testimony to a field hearing of the U.S. House of Representatives Subcommittee on Oversight and Investigations here, said the community bank model was still viable, especially if allowed to compete on an equal footing with larger banks. Get the full story »
