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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 […]
Fed’s Rosengren: Broker-Dealers Are Potential Threat to Stability
Fox Business, April 17, 2013. All Rights Reserved. The most recent reforms of the financial regulatory system have left Wall Street’s broker-dealers largely untouched and a continued threat to the financial stability, a Federal Reserve official said Wednesday. "Despite this history of failure and substantial government support, little has changed in the solvency requirements of […]
If U.S. Inflation Keeps Falling, Buy More Bonds – Fed’s Bullard
Reuters, April 17, 2013. All Rights Reserved. (Reuters) – The Federal Reserve should buy bonds if inflation continues to fall, a top Fed official said on Wednesday, stressing the U.S. central bank needs to prevent inflation from being too far below its target. Still, St. Louis Fed President James Bullard cautioned that more monetary policy […]
St Louis Fed’s Bullard: Ready to Up QE3 if Infl Conts to Fall
MNI | Duetsche Börse Group, April 17, 2013. All Rights Reserved. NEW YORK (MNI) – Many religiously monitor and analyze labor market data for clues on how long the Federal Reserve will maintain its aggressive measures to help the recovery, but one influential Fed official Wednesday said he would support increasing the bond buying program […]
Fed’s Bullard Says Low Inflation Could Require More Stimulus
Bloomberg Businessweek, April 17, 2013. All Rights Reserved. James Bullard, president of the Federal Reserve Bank of St. Louis, said U.S. inflation has fallen too far below the central bank’s 2 percent goal and a further drop could prompt increased bond buying. “Inflation should be closer to target than it is and we should defend […]