Federal Reserve Governor Jeremy Stein endorsed a warning by economists that raising the main interest rate may cause a financial-market convulsion similar to the “tantrum” that occurred last year after the Fed said it was considering trimming its bond purchase program.
Federal Reserve Governor Daniel Tarullo said central bankers must preserve the option of using interest rates to lean against dangerous financial bubbles even as they strengthen supervisory tools to curtail systemic risk.
Martin Wheatley, who leads London’s top markets watchdog, says he wishes he could bike to and from his home in Greenwich, a borough along the Thames. He can’t because he’s lugging too much paperwork around.
Federal Reserve Governor Jeremy Stein said banks that rely on deposits for funding have an advantage over counterparts that rely on the shadow banking system, such as repurchase agreements, to finance investments in illiquid assets.
Federal Reserve Governor Jeremy Stein, who has backed record stimulus, said the Fed should more closely link the winding down of its $85 billion in monthly bond purchases to economic data such as the jobless rate.
Federal Reserve Governor Jeremy Stein, who has backed record stimulus, said officials considering when to start reducing the pace of asset purchases should evaluate economic data since the program began last September, rather than looking only at the most recent figures.