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Kocherlakota Sees Fed’s Low Rates Creating Financial Instability
Money News, 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 […]
Kocherlakota Says Low Fed Rates Create Financial Instability
Bloomberg, 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 activity,” Kocherlakota […]
NY Doubles Down on Captives, Private Equity Firm Scrutiny
LifeHealthPro, April 18, 2013. All Rights Reserved. New York insurance regulators have the captives industry and private equity firms that own annuity companies under a microscope for their effect on financial solvency and stability, and the fear policyholders may be left holding the bag. The use of captives of insurers places the stability of the broader […]
Morning Money: Lawsky on Regulatory Competition
Politico, April 18, 2013. All Rights Reserved. FIRST LOOK III: LAWSKY ON REGULATORY COMPETITION — Excerpts from remarks New York Superintendent of Financial Services Ben Lawsky is to give this morning at the Minsky Conference at the Ford Foundation in NYC on “healthy competition” in financial regulation: “The New York State Department of Financial Services (DFS) […]
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 [...]