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Fed’s Easy Policies Necessary as a Parka in Winter: Kocherlakota
Reuters, April 18, 2013. All Rights Reserved. (Reuters) – The Federal Reserve’s ultra accommodative policies will inevitably result in financial market instability for years but such risks are necessary to boost employment and inflation, a top U.S. central bank official said on Thursday. Likening the Fed to a Minnesotan heading out into the winter cold, […]
Lawsky Reviews Private Equity’s ‘Troubling’ Insurance Role
The Washington Post, April 18, 2013. All Rights Reserved. (Updates with Lawsky’s comment in the fourth paragraph.) April 18 (Bloomberg) — New York’s financial regulator is scrutinizing what he called the “troubling role” of private equity firms as they expand into the insurance industry through acquisitions, according to a speech today. Private-equity firms “may not […]
Fed’s Kocherlakota: Very Low Rates Could Persist for a Decade
The Wall Street Journal, April 18, 2013. All Rights Reserved. A Federal Reserve official said Thursday interest rates are likely to stay very low for years to come, which raised the prospect that chronic financial instability risks will dog the economy for a long time. “For a considerable period of time, the [Federal Open Market Committee] may […]
Kocherlakota Says Low Fed Rates Create Financial Instability
Bloomberg Businessweek, April 18, 2013. All Rights Reserved. Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said the central bank’s low interest rate policies, though necessary, will probably generate signs of financial instability. “Unusually low real interest rates should be expected to be linked with inflated asset prices, high asset return volatility and heightened merger […]
UPDATE: Fed’s Kocherlakota Warns Low Rate World Risks Bubbles
The Wall Street Journal, April 18, 2013. All Rights Reserved. NEW YORK – A Federal Reserve official said Thursday interest rates are likely to stay very low for years to come, which raises the prospect that chronic financial instability will be an enduring threat. "For a considerable period of time, the [Federal Open Market Committee] […]
Fed’s Kocherlakota: Low Rates May Last 5-10 Years
MarketWatch, April 18, 2013. All Rights Reserved. WASHINGTON (MarketWatch) – Financial market conditions requiring the Federal Reserve to keep rates unusually low may persist for the next five to 10 years, said Narayana Kocherlakota, the president of the Minneapolis Fed Bank on Thursday. This low-rate environment, and Fed policy, in turn, can be expected to […]
Fed’s Bullard: Inflation Too Low; May Need Response
Hellenic Shipping News, April 18, 2013. All Rights Reserved. Federal Reserve Bank of St. Louis President James Bullard on Wednesday said he is concerned inflationary pressures may be growing too weakly and the central bank may have to do something about it. "Inflation is running very low" as measured by the personal consumption expenditures price […]
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22nd Annual Minsky Conference, Live
The 22nd Hyman P. Minsky conference, “Building a Financial Structure for a More Stable and Equitable Economy,” is underway. Today featured speeches by James Bullard of the St. Louis Fed, Eric Rosengren of the Boston Fed, and Thomas Hoenig of the FDIC. This year’s event combines the Minsky conference’s usual focus on financial stability and [...]
Fed’s Bullard Emphasizes Inflation, Not Unemployment
St. Louis Dispatch, April 17, 2013. All Rights Reserved. St. Louis Fed President Jim Bullard said Wednesday the Federal Reserve should keep its focus on inflation instead of putting more weight on high unemployment. More emphasis on unemployment “may be highly counterproductive,” he said at a conference in New York. Bullard said he expects unemployment, which […]
Boston Fed Chief Rosengren Calls For Crackdown on Broker-Dealers
Boston Herald, April 17, 2013. All Rights Reserved. Federal Reserve Bank of Boston President Eric Rosengren called for more regulation of broker-dealers and money market mutual funds in a speech at a New York conference today, but he began his remarks by acknowledging the victims of Monday’s Marathon attack. “I want to take a moment […]
Can Monetary Policy Create Jobs?
Wonkblog, The Washington Post, April 17, 2013. All Rights Reserved. How much power does monetary policy have to create jobs? That question is at the heart of the debate over the Federal Reserve’s recent policy decisions. A majority on the Fed’s policy committee has explicitly endorsed keeping low interest rate policies in place until the […]
The Fed’s Bullard Thinks Inflation Is Dangerously Low
CNNMoney, April 17, 2013. All Rights Reserved. Cue the flashback to summer 2010. Ben Bernanke and other officials at the Federal Reserve were warning that inflation was approaching dangerous lows, perhaps even flirting with the dreaded "D" word — deflation. Bernanke gave a key speech in Jackson Hole that August hinting that more Fed stimulus might […]