Ben S. Bernanke arrived at the Brookings Institution to begin the next chapter in his professional life, the first workday after ending an eight-year term leading the Federal Reserve through crisis and recession.
India central bank Governor Raghuram Rajan warned of a breakdown in global policy coordination after the Federal Reserve further cut stimulus, weakening emerging- market currencies from the rupee to the Turkish lira.
Rules written by the Federal Reserve to comply with the Dodd-Frank Act leave the central bank with too much discretion to bail out failing institutions, contrary to the aims of the 2010 law, according to the chairman of the House Financial Services Committee.
Janet Yellen is poised to take charge of a Federal Reserve System where boardroom dissent has become increasingly rare, making the central bank’s governing body an unusual example of harmony in a divided capital.
U.S. regulators are looking into how trading in financial instruments linked to gold in New York and Chicago occurred so quickly after the release of a Federal Reserve statement in Washington last week.
At BNP Paribas SA’s New York trading desk, Julia Coronado, the bank’s chief North America economist, watched as three words helped undermine the Federal Reserve’s latest attempt to aid the U.S. economy: “significant downside risks.”