U.S. financial reform should include some form of the Volcker rule, which would limit large financial firms' ability to engage in speculative trading, Thomas Hoenig, president of the Kansas City Federal Reserve Bank said on Wednesday.
Thomas Hoenig, president of the Kansas City Federal Reserve Bank, said on Wednesday U.S. financial reform should include some form of the Volcker rule, which would limit large financial firms' ability to engage in speculative trading.
Central bankers should base policy on simple rules related to inflation and economic growth and not rely on hazy measures of economic slack in order to stay ahead of the curve, a senior U.S. Federal Reserve official said on Tuesday.
The Federal Reserve may be required to make public some of its records on emergency lending programs to banks in the financial bailout, an appeals court ruled on Friday in cases brought by news organizations.
The head of the House of Representatives' Oversight Committee said on Friday he had asked the Federal Reserve to provide all documents relating to a rule waiver that allowed then-New York Fed Board Chairman Stephen Friedman to hold and purchase stock in Goldman Sachs Gorup .
The Philly Fed manufacturing report confirms that the labor market is stabilizing, although it also reports nascent inflationary pressures for manufacturers.
Presidents of regional Federal Reserve banks on Thursday defended their role in supervising small banks, and said ending it would cut a link between the central bank and the national heartland.
Kansas City Federal Reserve Bank President Thomas Hoenig said on Thursday that stripping the central bank of its oversight of smaller banks was inconceivable and would hurt monetary policy.
Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
Federal Reserve Chairman Ben Bernanke on Wednesday defended the central bank's supervision of smaller banks, which it would lose in regulatory reform proposals, in a hearing before a congressional panel.
The Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an extended period even as it sounded more upbeat about jobs.
The end of the Federal Reserve's program of purchasing $1.25 trillion of mortgage-backed securities at the end of March is a form of tightening monetary policy, the chief of the largest U.S. bond fund manager said on Tuesday.
The Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an extended period even as it sounded more upbeat about jobs.
The stock market closed with a modest gain Tuesday following an afternoon rally as investors breathed a sigh of relief that the Federal Reserve pledged to keep interest rates low “for an extended period of time” and Standard & Poor's affirmed Greece's debt rating.
The U.S. stock market held on to gains in the afternoon session as the Federal Reserve pledged to keep the federal funds rate low for an extended period, calming fears the Fed Reserve would take a more hawkish stance.
The Federal Reserve held benchmark rates near zero on Tuesday and renewed a promise to keep them exceptionally low for an extended period while pointing to increased momentum in the economy's recovery.
U.S. gold futures rose above $1,120 an ounce on Tuesday, gaining 1.5 percent, as an oil rally prompted commodity funds to buy ahead of an interest rate decision and policy statement by the Federal Reserve.
The Federal Reserve is expected to hold interest rates near zero on Tuesday and renew its pledge to keep rates very low for a long time, but it could note a brightening economic picture and hint at being closer to dropping the vow.
World stocks climbed on Tuesday while the dollar was corralled as investors bet the U.S. central bank will repeat its vow of keeping interest rates low for an extended period after its monthly meeting.
The Federal Reserve would gain new powers over non-bank financial firms and keep much of its authority over banks under a new bill on financial regulatory reform unveiled on Monday by the chairman of the Senate Banking Committee, Christopher Dodd.
Senate Banking Committee Chairman Christopher Dodd on Monday unveiled a bill to revamp U.S. financial rules that would place a consumer protection agency within the Federal Reserve and give the central bank new powers over non-bank financial firms.
