WASHINGTON, Jan 26 (Reuters) – Federal Reserve nominee Allan
Landon has up to $40.1 million worth of personal assets,
according to government disclosure forms obtained by Reuters,
which would make him one of the wealthiest Fed governors if
confirmed to the post.
The White House put Landon’s name forward earlier this month
to fill one of the two empty Fed governor seats, touting the
former Bank of Hawaii chief executive officer’s
experience in the community banking industry.
WASHINGTON (Reuters) – Federal Reserve policymakers, already struggling to assure investors that they remain on track for a mid-year interest rate rise, will find the task has just become harder with their peers in Europe and elsewhere headed in the opposite direction.
The swelling ranks of central banks cutting rates and ramping up stimulus make it more difficult and riskier for the Fed to proceed with plans to end crisis-era policies, according to Fed analysts and former staffers.
WASHINGTON (Reuters) – The U.S. Federal Reserve said Friday it will establish a community advisory council of 15 citizens to meet regularly with central bank officials for a broad conversation on the state of the economy.
The move comes as the Fed is pressured by labor and low-income groups arguing for continued low interest rates. Fed Chair Janet Yellen and other Fed officials have met with these groups from late last year to hear their concerns, a departure from the practice of previous central bank leaders.
WASHINGTON (Reuters) – The Federal Reserve’s new role as the top U.S. insurance regulator will be in the spotlight this week as MetLife decides whether to challenge tougher oversight by the central bank in court.
The Fed would face months of scrutiny of its fledgling oversight of the sector if MetLife sues regulators over their decision to tag it as a firm that has the potential to destabilize the wider financial system.
WASHINGTON (Reuters) – The Federal Reserve should stop talking about the need for a “patient” interest rate policy just before it thinks it will begin hiking rates, a top Fed policymaker said on Monday.
Richmond Federal Bank President Jeffrey Lacker said in an interview with Reuters that the Fed’s guidance in December that it would be patient with raising rates harkened back to a strategy employed in 2004.
WASHINGTON, Jan 7 (Reuters) – The U.S. Federal Reserve
pressed ahead at its last policy-setting meeting with plans to
begin raising interest rates later this year despite an
apparently vigorous debate over how to communicate its
According to minutes of the Fed’s Dec. 16-17 meeting,
released on Wednesday, U.S. central bankers reviewed a broad set
of data showing the United States was holding its own as other
parts of the global economy turned in the wrong direction.
WASHINGTON (Reuters) – The U.S. Federal Reserve pressed ahead at its last policy-setting meeting with plans to begin raising interest rates later this year despite an apparently vigorous debate over how to communicate its intentions.
According to minutes of the Fed’s December meeting, released on Wednesday, U.S. central bankers reviewed a broad set of data showing that the economic recovery in the United States was holding its own in a world that was turning in the wrong direction – with recession threatening in Japan and Europe and a slowdown in major emerging markets.
BOSTON (Reuters) – As the Fed winds down its economic stimulus, former U.S. Treasury Secretary Lawrence Summers says the country’s next economic booster could be exporting its fossil fuels around the globe, a move that could make America the next Saudi Arabia.
“The United States has the chance to be to the energy economy of the next decade what Saudi Arabia has been for the last two to three decades,” Summers said on Saturday. “The effect of allowing oil exports … would reduce rather than increase American gasoline prices.”
WASHINGTON (Reuters) – The U.S. Federal Reserve is lobbying to stem a rising threat to its independence as the “Audit the Fed” movement, once seen as usual background noise, looks set to gain momentum in 2015 when Republicans gain control of both houses of Congress.
Interviews with current and former Fed staff, lawmakers and lobbyists show that the central bank, led by Chair Janet Yellen, is taking the audit threat seriously. Fed officials are making their case for independence across Capitol Hill, reminding politicians of the damage that can come from political interference into economic policy discussions.
WASHINGTON, Dec 17 (Reuters) – The Federal Reserve on
Wednesday offered a strong signal that it was on track to raise
interest rates sometime next year, altering a pledge to keep
them near zero for a “considerable time” in a show of confidence
in the U.S. economy.
Closing out a two-day meeting against a backdrop of solid
domestic growth but trouble overseas, the U.S. central bank said
in a statement it would take a “patient” approach in deciding
when to bump borrowing costs higher.