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Jun 7, 2012

Bernanke says Fed to act if Europe crisis deepens

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Thursday the central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.

He told Congress the Fed was closely monitoring “significant risks” to the recovery from Europe’s debt crisis, but struck a decidedly different tone from the central bank’s No. 2 official, who argued for monetary support on Wednesday.

Jun 7, 2012

Bernanke offers few hints of Fed stimulus

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Thursday the central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.

Bernanke told Congress the Fed was monitoring “significant risks” to the U.S. recovery from Europe’s debt and banking crisis closely.

Jun 6, 2012

Two Fed officials cool to more easing

LOUIS/NEW YORK, June 5 (Reuters) – Two top Federal
Reserve officials suggested on Tuesday that the U.S. central
bank is not preparing to ease monetary policy at a meeting later
this month as the economic outlook has not deteriorated to the
point where action is warranted.

Both James Bullard, president of the St. Louis Federal
Reserve Bank, and Dallas Fed President Richard Fisher were cool
to the idea of new monetary stimulus in response to last month’s
disappointing U.S. jobs growth and boiling financial tensions in
Europe.

Jun 6, 2012

Two Fed officials cool to more monetary easing

LOUIS (Reuters) – Two top Federal Reserve officials on Tuesday suggested the U.S. central bank is not preparing to ease monetary policy at a meeting later this month, saying the economic outlook had not deteriorated to the point where action was warranted.

Both James Bullard, president of the St. Louis Federal Reserve Bank, and Dallas Fed President Richard Fisher were cool to the idea of new monetary stimulus in response to weak U.S. economic data and boiling financial tensions in Europe.

Jun 5, 2012

Two Fed officials cool to policy changes

LOUIS (Reuters) – The U.S. economic outlook has not deteriorated to the point that a further easing of monetary policy is warranted, two top Fed officials said on Tuesday, suggesting the U.S. central bank is not gearing up for action at its upcoming meeting on June 19-20.

Both St. Louis Fed Bank President James Bullard and Dallas Fed Bank President Richard Fisher were cool to the idea of new Fed actions in response to weak U.S. economic data and boiling European financial tensions.

Jun 4, 2012

Factbox: What tools does the Fed have to boost growth?

By Mark Felsenthal

(Reuters) – A much weaker-than-expected U.S. labor market and escalating financial turmoil in Europe have raised the chances the Federal Reserve will intervene to protect the fragile U.S. recovery.

Top officials at the central bank had said the economy was unlikely to need more monetary support as long as there was progress in reducing painfully high unemployment.

Jun 4, 2012

Fed “back in play” as Europe crisis intensifies

WASHINGTON (Reuters) – Europe’s escalating debt crisis is emerging as a top concern for Federal Reserve officials and could nudge them closer to more bond buying or extending “Operation Twist,” the U.S. central bank’s most recent program to lower long-term borrowing costs.

The turmoil in the euro zone has risen to near fever pitch with investors withdrawing funds from Spanish banks and political gridlock in Greece raising the prospect it could abandon the common currency.

May 23, 2012

Fed’s Bullard says orderly Greek exit possible

LOUIS (Reuters) – Greece could exit the euro zone without doing deep damage to the U.S. and European economies if the transition is handled properly, a top Federal Reserve official said on Wednesday.

Concerns about a Greek exit have kept global financial markets under pressure in recent days.

May 22, 2012

Three U.S. senators target bankers’ role at Fed

WASHINGTON, May 22 (Reuters) – Three U.S. senators on
Tuesday proposed legislation barring bankers from serving on the
boards of the Federal Reserve’s 12 regional banks, saying the
practice poses dangerous conflicts of interest that are
highlighted by the recent trading loss of JPMorgan Chase & Co.

Jamie Dimon, the chief executive of JPMorgan, is a board
member of the Federal Reserve Bank of New York, which regulates
his bank, a clear example of “the fox guarding the hen house,”
Senator Bernie Sanders, an independent, said at a news
conference.

May 16, 2012

Officials urge fuller Fed policy reports

LOUISVILLE, Ky (Reuters) – The Federal Reserve, which has taken already taken extraordinary steps in the past couple of years to provide greater transparency, is considering a range of ways to sharpen its communication on the possible future course of monetary policy.

Some officials are advocating fuller and more frequent monetary policy reports that, ideally, would provide financial markets greater clarity about how the Fed would adjust its policy to changing economic circumstances, and give some sense about probability.

    • About Mark

      "Mark Felsenthal is a Reuters White House correspondent who covered Barack Obama's re-election in 2012 and the fiscal crisis that immediately followed. Since joining Reuters in 2001, he has written about monetary policy, currency wars, and the housing market meltdown."
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