With the economy's recovery likely to be slow and hampered by tight credit and a cautious consumer, the Federal Reserve is still far from needing to tighten its extraordinarily loose monetary policy, Chicago Federal Reserve Bank President Charles Evans said Thursday.
The Federal Reserve should shift quantitative easing policies based on the U.S. economy's evolution, in the same way those changes guide interest rate policy, a top Fed official said on Thursday.
The U.S. economy will recover slowly and the unemployment rate will take some time to come down, Atlanta Federal Reserve Bank President Dennis Lockhart said on Wednesday.
Economic activity strengthened modestly across most of the 12 Federal Reserve districts during February and likely would have done better if not for heavy snowstorms that battered many areas.
Low U.S. interest rates were not the sole cause of the housing bubble, a top Federal Reserve official said on Wednesday, adding that ultra-low interest rates are appropriate now.
Banks that are seen as too large to fail should be broken up in order to make the financial system more stable, Dallas Federal Reserve President Richard Fisher said on Wednesday.
Top Federal Reserve officials on Tuesday offered differing messages about the direction of monetary policy, with one flagging the dangers of keeping interest rates too low for too long and another saying the economy was too weak to raise them.
The White House has contacted Massachusetts Institute of Technology Professor Peter Diamond about joining the Federal Reserve's board of governors, Bloomberg reported, citing two people familiar with the discussion.
The U.S. Federal Reserve must be especially careful when the time comes to raise interest rates because of its bloated balance sheet, Minneapolis Fed President Narayana Kocherlakota said on Tuesday.
A senior Federal Reserve official said on Tuesday that an extended period of ultra-low U.S. interest rates invites speculative behavior and is risky.
Supervisory powers over banks are critical for the Federal Reserve to do its job, Minneapolis Fed President Narayana Kocherlakota said on Tuesday.
A senior U.S. Federal Reserve official said on Tuesday that an extended period of ultra-low interest rates invites speculative behavior and is risky.
The possibility of setting up a new financial consumer watchdog within the Federal Reserve was one of a range of options being discussed by members of the U.S. Senate Banking Committee, sources said on Monday.
Paul Volcker, the former Federal Reserve chairman who is advising the Obama administration, said the U.S. dollar's role as the world's reserve currency is likely not in jeopardy, but warned central bankers to keep a close eye on inflation.
Federal Reserve Vice Chairman Donald Kohn, a 40-year veteran of the U.S. central bank, will step down in late June, giving President Barack Obama a freer hand to reshape the institution.
The Senate's chief architect of financial regulation reform said on Friday the Federal Reserve may not necessarily lose its authority to supervise banks, signaling a potential shift in his thinking.
A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.
The White House said on Thursday it was still committed to banning risky trading by banks under the so-called Volcker Rule, after Federal Reserve chairman Ben Bernanke appeared to pour cold water on the idea.
The White House said on Thursday it was still committed to banning risky trading by banks under the so-called Volcker Rule, after Federal Reserve chairman Ben Bernanke appeared to pour cold water on the idea.
Bank stocks led the S&P 500 Index in Wednesday's rally as Fed Chairman Bernanke reiterates his commitment to low interest rate and offered an optimistic view of the financial markets.
Fed Chairman Ben Bernanke was the center focus for global market participants on Wednesday as he testified before the House Financial Services Committee about the state of the U.S. economy and the Fed's monetary policy.
In his semi-annual testimony before the House Financial Services Committee, Fed Chairman Ben Bernanke described the myriad of tools in the Fed's arsenal to withdraw liquidity.
