Monetary policy in a low inflation and low unemployment economy: remarks at the Economic Club of New York, New York, New York, May 21, 2019
Boston Fed president Eric Rosengren explored the current economic environment, characterized by low unemployment and lower-than-target inflation ? which are somewhat opposing signals for monetary policymakers.
Central bank balance sheets: misconceptions and realities: remarks at the Credit Suisse Asian Investment Conference, Hong Kong, China, March 26, 2019
Federal Reserve Bank of Boston President Eric Rosengren explored misconceptions about the Fed?s balance sheet ? the assets the central bank holds, and the liabilities and capital used to finance those assets ? in a speech in Hong Kong.
Leveraging New Resources by Acknowledging Market Failures While Exploring Market Opportunities
At Enterprise Community Partners, our mission is to create opportunity for low- and moderate-income people through the creation and preservation of affordable housing in diverse, thriving communities. We?ve done this work for more than 35 years, bringing together national know-how, partners, policy leadership, and investment to multiply the impact of local affordable housing development. Over that time, we have invested more than $36 billion through public-private partnerships, resulting in more than half a million healthy, well-designed affordable homes, critical community assets like ...
Are Markets Becoming Less Competitive?
National markets in many U.S. industries seem to be increasingly dominated by large companies. Some policymakers have argued that this growing market concentration is a sign of weakening competition, but concentration by itself does not necessarily translate into market power. It may be too soon to reach a decisive conclusion about whether market power, not simply market concentration, is on the rise.
Perspectives on monetary policy and market volatility: remarks to The Boston Economic Club, Federal Reserve Bank of Boston, Boston, Massachusetts, January 9, 2019
Federal Reserve Bank of Boston President Eric Rosengren spoke about the economy?s outlook, recent stock-market volatility, and the implications for the Fed?s monetary policy. In his talk, Rosengren contrasts the pessimism reflected in financial markets with the relatively optimistic outlooks of professional forecasters and Fed policymakers.
OTC Derivatives—A Primer on Market Infrastructure and Regulatory Policy
In this article, we discuss some recent developments relating to the regulation of derivatives markets, specifically the Group of Twenty (G-20) mandates, and examine the infrastructure that supports derivatives markets (including both the trade execution and post-trade clearing and settlement processes). Then we identify some of the policy issues raised by the G-20 market structure mandates. To provide a foundation for that discussion, first we explain some key concepts and terms.
Why Do Banks Feel Discount Window Stigma?
Even when banks face acute liquidity shortages, they often appear reluctant to borrow at the New York Fed’s discount window (DW) out of concern that such borrowing may be interpreted as a sign of financial weakness. This phenomenon is often called “DW stigma.” In this post, we explore possible reasons why banks may feel such stigma.
Liquidity Shocks: Lessons Learned from the Global Financial Crisis and the Pandemic
Remarks at the 2021 Financial Crisis Forum, Panel on Lessons for Emergency Lending (delivered via videoconference).
Rising to the Challenge: Central Banking, Financial Markets, and the Pandemic
Remarks at the 16th Meeting of the Financial Research Advisory Committee for the Treasury’s Office of Financial Research (delivered via videoconference).
The Fed’s Emergency Facilities: Usage, Impact, and Early Lessons
Remarks at Hudson Valley Pattern for Progress (delivered via videoconference).