New Fed reports fall short on risks, Roundtable with Philadelphia Fed President Patrick Harker
Tuesday 26 November 2019 – Vol.10 Ed.48.1
Commentary: New Fed reports fall short on risks
By Mark Sobel in Washington
In 2018, the Federal Reserve began issuing semi-annual financial stability reports; it published its latest earlier this month. In May, the Fed issued an inaugural supervision and regulation report. These reports enhance significantly Fed communications. But they are also works in progress. Perhaps the major critique of the financial stability report is that while its analysis is superb, it fails to offer prescriptions. It could be improved substantially if the Fed were to tell readers what it plans to do about identified challenges and weaknesses.
Read the full commentary on the website.
Meeting: Monetary policy normalisation – Low interest rates and the new normal
Wednesday 15 January, New York, 11:00-12:30 EST
The Federal Reserve is reverting to lowering interest rates as the US economy presents a mixed picture for policy-makers. Questions are being raised about adjusting to a ‘new normal’ and the validity of unconventional policy tools. Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia, and Roc Armenter, its vice-president and economist, discuss the Fed’s balance sheet and long-term policy normalisation.
Request to attend the meeting.