What ignited the financial crisis? What has the Fed done about banks? When will the economy recover?
| FRBSF Highlights |
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Bernanke Sworn in for Second Term
Ben S. Bernanke was formally sworn in for a second four-year term as Chairman of the Board of Governors of the Federal Reserve System at a ceremony held on Wednesday, February 3. In his remarks, Bernanke emphasized that "The Federal Reserve has been granted, both in law and in political tradition, considerable independence and autonomy. That independence serves important public objectives. Critically, it allows the Federal Open Market Committee to make monetary policy in the longer-term economic interests of the American people, rather than in the service of short-term political imperatives."
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Hong Kong and China and the Global Recession
Janet Yellen reports on her most recent visit to Hong Kong and China. Each year the President of the San Francisco Federal Reserve Bank joins the Federal Reserve Governor reponsible for liaison with Asia on a fact-finding trip to the region, in keeping the the SF Bank's objective of developing expertise on issues related the Pacific Basin.
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The Fed makes the case for its role in bank supervision and regulation
The Federal Reserve delivered a white paper to Congress that outlines how its involvement in supervision and regulation confers benefits to the country.
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FedViews: January 2010
Looking at the outlook from a year ago, our forecasts for economic growth and inflation proved to be reasonably on target, but the unemployment rate rose far more than we had expected.
:: John C. Williams |
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Learn About the New Credit Card Rules
The Federal Reserve Board announced new rules for credit card companies, effective February 22, 2010. Check out the new site, "What You Need to Know: New Credit Card Rules," to review the new credit card protections designed to benefit consumers and key changes you should expect.
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| Hong Kong and China and the Global Recession |
Hong Kong and China are recovering impressively from global recession thanks to effective stimulus programs. But authorities worry that expansionary U.S. monetary policy may fuel asset bubbles in their economies. In the long run, the recession may nudge China toward increased domestic consumption by highlighting the risks of export-driven development. This Letter is adapted from a report by the president and CEO of the Federal Reserve Bank of San Francisco on her visit to Hong Kong and China November 15-21, 2009.
Yellen :: 2010-04 :: February 8 |
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