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Federal Reserve

By Daniel Geiger 1/26 9:27am

Federal Reserve Takes 33 Maiden Lane

The Federal Reserve of New York has stepped in to buy 33 Maiden Lane, a 570,000-square-foot downtown skyscraper that the Fed uses for a portion of its Manhattan offices.

“The Federal Reserve Bank of New York has entered into an agreement to acquire the building at 33 Maiden Lane in lower Manhattan,” a New York Fed spokesperson confirmed in a prepared statement issued yesterday afternoon to The Commercial Observer. “The Bank is now in a final due diligence phase prior to the expected closing in the first quarter.”
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1 By Foster Kamer 8/08/11 2:32pm

THREE'S A TREND!

Bernanke Abandoned! Three’s a Trend After International Economic Adviser Sheets Ends 18-Year Run With Fed

Three hours before President Obama's "eff an S & P" presser, a tidbit of news broke about a staffing change at the Federal Reserve: Nathan Sheets, the Fed's chief international economic adviser—or: the director of the Division of International Finance—is getting out of dodge. Mr. Sheets, who started with the Federal Reserve Board in 1993 as an economist, had been there for 18 years. More importantly, he's the third in a trend of (take a guess)... Read More

By Foster Kamer 4/27/11 8:00pm

FREE BIRD!

Live with Ben Bernanke! A Peanut Gallery’s Review of Fed Chair’s First Presser

Mark it: an important moment in American history today, not even counting the time a reality television star's consistant trolling forced the American President to present evidence of his citizenship. Rather, today was the very first U.S. Federal Reserve press conference, featuring big-money-cheap-date Ben Bernanke! What great revelations did we learn? What spiked-bat questions will Read More

By Mike Taylor 1/04/11 7:36pm

Printing Money

Federal Reserve to Keep on Easing

The Federal Reserve today released the minutes from its Dec. 14 meeting to determine just how much money it would create out of thin air as part of its continuing effort to stimulate the economy.

The Fed determined that labor demand was increasing but not enough to stave off high levels of unemployment. Industrial production Read More

By Mike Taylor 12/20/10 8:33pm

Financial Reform

Fed Not in a Rush to Oversee Hedge Funds

The United States Federal Reserve, which is charged with overseeing the financial system, is not convinced that there's any hedge fund that could endanger the entirety of U.S. capitalism, and therefore it's not convinced that the funds need Fed oversight.

Reuters reports on the Fed's assessment, citing a person familiar with the Fed's position. The Read More

By Mike Taylor 12/17/10 2:41pm

Wall Street

Morning Roundup: No Luck for Ireland

Moody's downgraded Ireland's credit rating five notches and said more downgrades could come if the country didn't figure out how to deal with all its debt. [WSJ]
If Ron Paul proceeds to hector the pants off Ben Bernanke in his new role as congressional Federal Reserve overseer, he'll be following a long-established tradition of berating Read More

By Mike Taylor 7:37pm

Quantitative Easing

Fed’s Money Printing to Continue

The Federal Reserve continues to view the economic recovery as too slow for comfort, and is therefore proceeding with its controversial plan to print $600 billion and buy long-dated Treasury securities with the newly created funds, the central bank announced today. It cited several factors in this decision that are probably well known to Read More

By Mike Taylor 12:49pm

Wall Street

Morning Roundup: Politicians Fussing Over Money

The one Federal Reserve member who thinks printing more money is a bad idea can't shake memories of the horrendous and rampant inflation the U.S. experienced in the 1970s. [NYT]
The Republicans who just entered Congress may want to put a check on all that money printing, a development that would surely furrow the brow Read More

By Mike Taylor 12/09/10 7:08pm

Fed Up

Ron Paul, Who Hates the Fed, Will Oversee It

Representative Ron Paul, the Republican congressman who

His campaign to audit the Fed picked up steam as the central bank deployed trillions in emergency loans in the midst of the worst financial crisis since the Great Depression. Paul's bill gained the support of 320 of 435 members of the House and a portion of the Read More

By Mike Taylor 12/09/10 4:00pm

Fed Up

Abolish the Fed? 16 Percent Say Yes: Poll

There is now a poll whose numbers back massive anecdotal evidence that the Federal Reserve is enormously unpopular and that many of its detractors are fed up enough to advocate its abolition. Bloomberg undertook a nationwide poll of 1,000 Americans conducted from Dec. 4 through 7.

Americans across the political spectrum say the Read More

By Mike Taylor 12/06/10 12:54pm

Wall Street

Morning Roundup: Bernanke Hits Prime Time

The finance minister of Belgium is saying that maybe it'd be a good idea to expand the European Union's $1 trillion bailout fund as concerns about the Great Debt Contagion continues to menace Spain and Portugal. [NYT]
"Who will audit the auditors?" is a question the Securities and Exchange Commission has been asking itself for Read More

By Mike Taylor 12/03/10 4:47pm

Salaries

Ben Bernanke Works for Peanuts

Federal Reserve Chairman Ben Bernanke's many critics should take comfort in the fact that he's one of the least expensive central bankers on the planet. For all his controversial extraordinary monetary maneuverings, Bernanke makes a mere $196,700 a year, according to Bloomberg.

In contrast, Britain's Mervyn King takes home nearly half a million in annual Read More

By Mike Taylor 12/03/10 1:22pm

Wall Street

Morning Roundup: Hedge Funds Traded Stocks — But Were They Insiders at the Time?

SAC, Diamondback, Jana and Balyasny Asset Management all beefed up their stakes in at least one of three acquired health care companies around the same time each deal was announced, although it's unclear whether the funds bought in before or after the announcements. [WSJ]
Although it's awful to have recently lost your job, it's worse Read More

By Mike Taylor 12/02/10 1:18pm

Wall Street

Morning Roundup: The Planetary Lender

The Securities and Exchange Commission and the major Wall Street banks are talking about maybe settling an investigation into the firms' use of collateralized debt obligations, the complex investment instruments that played a key role in turning the economy into a smoldering rubble pile. [WSJ]
The Federal Reserve's big data dump that started yesterday at Read More

By Mike Taylor 12/01/10 9:31pm

Fun With Numbers

Huffington Post ‘Liveblogging’ Fed Bailout Disclosure

Heeding some journalists' dismay at the sheer volume and complexity (we are not exempt from these feelings) of today's big Federal Reserve bailout disclosure, The Huffington Post has bravely decided to "liveblog" the tedious process of combing through the piles of data, and keeping up with other outlets' revelations.

The result is surprisingly serious items like Read More

The New York Observer

Federal Reserve

Federal Reserve Takes 33 Maiden Lane

Bernanke Abandoned! Three’s a Trend After International Economic Adviser Sheets Ends 18-Year Run With Fed

Live with Ben Bernanke! A Peanut Gallery’s Review of Fed Chair’s First Presser

Federal Reserve to Keep on Easing

Fed Not in a Rush to Oversee Hedge Funds

Morning Roundup: No Luck for Ireland

Fed’s Money Printing to Continue

Morning Roundup: Politicians Fussing Over Money

Ron Paul, Who Hates the Fed, Will Oversee It

Abolish the Fed? 16 Percent Say Yes: Poll

Morning Roundup: Bernanke Hits Prime Time

Ben Bernanke Works for Peanuts

Morning Roundup: Hedge Funds Traded Stocks — But Were They Insiders at the Time?

Morning Roundup: The Planetary Lender

Huffington Post ‘Liveblogging’ Fed Bailout Disclosure

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