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Fed’s Williams Still Sees Rate Hikes Some Time Next Year

Federal Reserve Bank of San Francisco President John Williams told cable news channel CNBC that he still expects the first central bank increase in short-term interest rates will come around a year down the road.
“A rate hike some time in the middle of 2015 seems reasonable” right now based on the current outlook for the economy, Mr. Williams said in the interview Thursday, echoing comments he’s made in recent public remarks.

Source: http://blogs.wsj.com/economics/2014/08/21/feds-williams-still-sees-rate-hikes-some-time-next-year/?mod=WSJBlog

Despite Retreat, Fed to Keep Bond Buys in Policy Toolkit

The Federal Reserve is on track to end its historic bond-buying program in October, but that won’t mean the disappearance of a central banking tool that proved controversial inside and outside the institution.
Though deeply divisive on Wall Street and in Congress and academia, many top Fed officials believe their bond buying helped stabilize markets during the crisis and support economic growth afterward. This means the policy-known to some as quantitative easing or QE—could be dusted off in the future in the event of another economic calamity.

Source: http://blogs.wsj.com/economics/2014/08/21/despite-retreat-fed-to-keep-bond-buys-in-policy-toolkit/?mod=WSJBlog

Fed’s George: Easy-Money Policies Should End Sooner Rather Than Later

One of the Federal Reserve‘s most prominent hawks said on Thursday it is time for the central bank to think seriously about raising short-term interest rates off of their current near-zero percent levels.
“My objective is not to see rates rise sharply,” Federal Reserve Bank of Kansas City President Esther George said in an interview on Fox Business Network. ”But I do think many of the policy benchmarks we look at are already signaling that we should be off of 0,” she said.

Source: http://blogs.wsj.com/economics/2014/08/21/feds-george-easy-money-policies-should-end-sooner-rather-than-later/?mod=WSJBlog

New Fed Exit Strategy Emerges and Foreign Banks Big Winners

Federal Reserve officials haven’t decided when to raise short-term interest rates, but as The Wall Street Journal reported earlier this week, they are closer to finishing a blueprint for how they’ll do it.
Minutes of the Fed’s July 29-30 policy meeting laid out fresh details and elaborated on others. Among the big winners in the new approach–as we’ll explain lower in this post–are foreign banks.
But first the details:

Source: http://blogs.wsj.com/economics/2014/08/21/new-fed-exit-strategy-emerges-and-foreign-banks-big-winners/?mod=WSJBlog

Subprime Auto Lending Rise Not Yet Worrisome: N.Y. Fed Economists

A recent spike in subprime auto lending does not look excessive, considering gains in the broader car industry, according to economists from the Federal Reserve Bank of New York.
Overall lending in the auto sector approached an eight-year high in the second quarter while mortgage lending hit a 14-year low—confounding economists about the outlook for U.S. consumer spending.

Source: http://blogs.wsj.com/economics/2014/08/20/subprime-auto-lending-rise-not-yet-worrisome-n-y-fed-economists/?mod=WSJBlog

What’s on the Docket for Global Central Banks This Year?

Central-banking fans have a new tool to help them plan the rest of the year.
The Journal has created an interactive Global Central Banks Calendar, a database of coming releases by major central banks including the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan.

Source: http://blogs.wsj.com/economics/2014/08/19/whats-on-the-docket-for-global-central-banks-this-year/?mod=WSJBlog

Crisis Offered ‘Baptism’ for Some Home-Currency Debt, S.F. Fed Finds

China’s yuan was among the currencies that saw the biggest increases in international debt issuance during the global financial crisis, a new San Francisco Fed study finds.

Source: http://blogs.wsj.com/economics/2014/08/18/crisis-offered-baptism-for-some-home-currency-debt-s-f-fed-finds/?mod=WSJBlog
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