Federal Reserve

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New York Times  11 hrs ago  Comment 
Remarks on Saturday by the president of the Federal Reserve Bank of New York appeared to respond to President-elect Donald J. Trump’s promise to roll back Wall Street regulations.
Reuters  Dec 3  Comment 
The United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.
Forbes  Dec 3  Comment 
Still think the Federal Reserve may not hike rates this month? It’s time to change that view. Traders betting through the Fed futures market now see the odds of rates staying where they are at a measly 1.4% after strong employment and consumer...
The Hindu Business Line  Dec 3  Comment 
US stocks had ended little changed on Friday after a payrolls report did little to recast expectations for an interest rate hike from the Federal Reserve this month and bank stocks cooled to round out...
The Hindu Business Line  Dec 3  Comment 
US employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 per cent, making it almost certain that the Federal Reserve will raise interest rates lat...
MarketWatch  Dec 2  Comment 
DoubleLine Capital on Friday said its funds had collectively posted net outflows in November, with monthly share redemptions exceeding subscriptions for the first time since January 2014, during the tail end of the Federal Reserve’s so-called...
Reuters  Dec 2  Comment 
U.S. banking regulators must defend tough rules governing Wall Street and resist efforts to dilute regulations that might prevent a future financial crisis, Federal Reserve Governor Daniel Tarullo said on Friday.
Benzinga  Dec 2  Comment 
The Federal Reserve's monetary policy setting arm, or the FOMC is set to sit across the table for one last time this year to deliberate on rates. It's sure an unenviable task, given the fine line central bankers have to tread in deciding the apt...




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The Federal Reserve is the third central bank of the USA. It was legally established on December 23, 1913, when US president Woodrow Wilson signed the Federal Reserve System Act. The Federal Reserve was blamed to have deepened the Great Depression after the crash of 1929. In a panicky reaction it then deflated money supply, causing a lasting and deep economic contraction.

In the inflationary period from 1973 - caused by the first oil shock - to 1981 chairman Paul Volcker managed to battle inflation successfully by raising the leading interest rate to more than 20%. At the same time Volcker succeeded in keeping the economy out of a drawn-out recession.

The policy style changed with the nomination of Alan Greenspan in 1987. Only 2 months into office Greenspan was confronted with the Black Monday of 1987, when the Dow Jones Industrials Average fell 22%, its biggest loss ever in a day. Remembering the fatal results of tight liqudity after the crash of 1929 Greenspan offered banks all the funds they needed in order to avoid a meltdown of the stock market. Alan Greenspan can also be credited with blowing up the biggest debt bubble of all times in the new millennium. By lowering the Fed Funds rate to a record low of 1% the Federal Reserve contributed heavily to the American housing boom that turned out to be a bubble based on easy credit. Greenspan conceded in 2008 to Congress that he erred on wrong side when the Federal Reserve thought that the financial industry should not be burdened with more oversight. At this time the USA had fallen in the biggest financial crisis ever.

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The Federal Reserve Banks

The 12 Federal Reserve Banks were established by Congress as the operating arms of the nation's central banking system. Many of the services provided to depository institutions and the federal government by this network of Reserve Banks are similar to services provided by commercial banks and thrift institutions to business customers and individuals.

Reserve Banks

  • hold the cash reserves of depository institutions and make loans to them
  • move currency and coin into and out of circulation, and collect and process millions of checks each day
  • provide checking accounts for the Treasury, issue and redeem government securities, and act in other ways as fiscal agent for the U.S. government
  • supervise and examine commercial banks that are members of the Federal Reserve System for safety and soundness
  • participate in the activity that is the primary responsibility of the Federal Reserve System, the setting of monetary policy.
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