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Credit Crisis

When It Comes to Housing, Maybe Millennials Aren’t so Different After All

Millennials get flack for postponing marriage, living with parents and shying away from homeownership. But what’s less discussed is how, to some extent, they’re just responding rationally to their local housing markets.

Source: http://blogs.wsj.com/economics/2014/07/22/when-it-comes-to-housing-maybe-millennials-arent-so-different-after-all/?mod=marketbeat

New Federal Reserve No. 2 Signals Support for Bank Oversight Agenda

Federal Reserve Vice Chairman Stanley Fischer on Thursday signaled support for the central bank’s postcrisis regulatory agenda, in his first speech since taking the Fed’s No. 2 job.
Mr. Fischer praised the Fed’s stress-testing program for banks and new requirements that big banks hold higher levels of loss-absorbing capital, throwing in his lot with other Fed officials in backing two pillars of the Fed’s response to the financial crisis.

Source: http://blogs.wsj.com/economics/2014/07/10/new-federal-reserve-no-2-signals-support-for-bank-oversight-agenda/?mod=marketbeat

Appointee Nemat Shafik Says BOE Balance Sheet Might Not Return to Pre-Crisis Size

LONDON – The official who will be in charge of shrinking the Bank of England’s balance sheet said on Wednesday that its size  may not become as small as it once was.
Nemat Shafik, a former International Monetary Fund deputy managing director who joins the U.K. central bank Aug. 1 as its first deputy governor for markets and banking, made her remarks while testifying in parliament.

Source: http://blogs.wsj.com/economics/2014/07/09/appointee-nemat-shafik-says-boe-balance-sheet-might-not-return-to-pre-crisis-size/?mod=WSJBlog

Tough Day at the Office for Riksbank Governor

It was a somber Stefan Ingves, who spoke at the Riksbank’s post rate decision press conference in Stockholm Thursday.
He managed the usual pleasantries but his presentation lacked much of its usual dry humor and it wasn’t hard to understand why.
It is bad enough that his central bank has failed to hit its inflation target for two and a half years but now even some of his most reliable policy allies on the executive board have left Mr. Ingves’s side.

Source: http://blogs.wsj.com/economics/2014/07/03/tough-day-at-the-office-for-riksbank-governor/?mod=WSJBlog

Bank of England Official Defends Efforts to Stoke Risk Taking

A senior Bank of England official Wednesday defended central banks against a charge they hear a lot these days: that their policies have stoked a flurry of financial risk-taking that will inevitably end in tears.
Andrew Haldane, the BOE’s chief economist, told a conference in London that reviving investors’ appetite for risk was one of the forgotten goals of crisis-fighting measures such as cutting interest rates to rock-bottom and buying safe assets such as government bonds, a policy known as quantitative easing.

Source: http://blogs.wsj.com/economics/2014/07/02/bank-of-england-official-defends-efforts-to-stoke-risk-taking/?mod=marketbeat
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