The Vault at EconomicPolicyJournal.com

Our Agenda for the G-20

2010-06-22T20:17:00.000-04:00

By Timothy Geithner and Lawrence Summers This week, President Obama will travel to Toronto for the G-20 Summit. Engagement with the G-20 has been a key component of the administration's strategy to defuse the global financial crisis and ensure economic recovery. Stronger growth with solid job creation here in the U.S. depends on an expanding global economy, and this year's G-20 provides an

People’s Bank of China Statement on Implementation of Exchange Rate Flexibility

2010-06-19T11:00:00.000-04:00

The following is the full statement by the People’s Bank of China on yuan flexibility. Further Reform the RMB Exchange Rate Regime and Enhance the RMB Exchange Rate Flexibility In view of the recent economic situation and financial market developments at home and abroad, and the balance of payments (BOP) situation in China, the People´s Bank of China has decided to proceed further with reform

Loss of moneyman a big blow for al-Qaeda

2010-06-06T08:32:00.002-04:00

By Stuart A. Levey Last month, al-Qaeda was dealt a major blow. In losing Mustafa Abu al-Yazid -- also known as Sheik Saeed al-Masri -- the terrorist organization was deprived of one of its founding members and also its third-highest official. An early confidante of Osama bin Laden and his deputy Ayman al-Zawahiri, Yazid has essentially served as al-Qaeda's "chief financial officer,"

U.S. Deputy Secretary of the Treasury Neal S. Wolin Remarks at the Palestine Investment Conference

2010-06-02T20:33:00.000-04:00

As Prepared for Delivery Bethlehem President Abbas, Prime Minister Fayyad, members of the Cabinet, on behalf of President Obama and the U.S. delegation let me express our deep thanks for the opportunity to be here today. And thank you to Jafr Hdeib, CEO of the Palestine Investment Promotion Agency, and to Hassan Abu Libdeh, Minister of National Economy, for organizing this important

Texas Rangers Press Release on Bankruptcy Filing/Sale

2010-05-24T12:50:00.000-04:00

Arlington, TX, May 24, 2010 -Texas Rangers Baseball Partners, the current owners of the Texas Rangers Baseball Club, and Rangers Baseball Express, the local investor group led by team president Nolan Ryan and Chuck Greenberg, today announced a plan to facilitate completion of the previously announced sale of the Club to the Greenberg-Ryan group. The sale of the Club and its lease of the Rangers

Index to the Vault

2010-05-20T23:59:00.000-04:00

A Primer by the Federal Reserve on Currency Swaps (1) Austrian Business Cycle Theory (1) BenBernankeSpeeches (5) Bill Gates Speeches and Statements (1) Donald Kohn Speeches (1) ECB Monetary Statemnet (1) ECB Statements (1) Elizabeth Duke Speeches (1) EU Statements (2) Fabrice Tourre (1) Federal Open Market Committee Statements (2) Federal Reserve Bank of New York (1)

White House Mexico State Dinner guest list

2010-05-20T13:41:00.001-04:00

The President & First Lady Michelle Obama His Excellency Felipe Calderón Hinojosa, President of Mexico and Mrs. Margarita Zavala Mr. Michael Adler, Miami Beach, FL Mrs. Judy Adler Mr. Javier Alatorre, Mexico Mr. Will Allen, Growing Power, Oak Creek, WI Ms. Cynthia Allen Ms. Adrienne Arsht, Washington, DC The Honorable David Axelrod, Senior Advisor, TheWhite House Mrs. Susan

JOHN CARNEY JOINS CNBC

2010-05-12T14:32:00.000-04:00

Respected financial journalist to begin writing for CNBC.com and appear on the network in coming weeks ENGLEWOOD CLIFFS, N.J. – May 12, 2010 – John Carney will be joining CNBC.com, the online destination for real-time global business news and expert analysis, as Senior Editor, it was announced today by Allen Wastler, Managing Editor, CNBC.com. In addition to writing for the site, Carney

Statement by Hank Haney on His Resignation as Tiger Woods' Coach

2010-05-11T08:05:00.000-04:00

I have informed Tiger Woods this evening that I will no longer be his coach. I would like to thank Tiger for the opportunity that I have had to work with him over the past 6 plus years. Tiger Woods has done the work to achieve a level of greatness that I believe the game of golf has never seen before and I will always appreciate the opportunity that I have had to contribute to his successes. I

Sppech by Vice Chairman Donald L. Kohn At the High-Level Conference on the International Monetary System, Zurich, Switzerland

2010-05-11T07:54:00.000-04:00

Global Imbalances As the global economy continues to heal from the devastation wrought by the financial crisis, we must not lose sight of our collective responsibility to ensure that the conditions that gave rise to the crisis are not repeated. On this score, many efforts are under way to promote a more resilient global financial system, but clearly much more remains to be done. In my remarks

The Fed Authorizes Up to Five Small-Value Offerings of Term Deposits

2010-05-10T16:46:00.000-04:00

Press Release Release Date: May 10, 2010 For immediate release The Federal Reserve Board has authorized up to five small-value offerings of term deposits under the Term Deposit Facility (TDF) to be conducted in coming months. The Board had indicated in its announcement on April 30 that it anticipated conducting such small-value offerings. These small-value

FOMC Re-Establishes Swap Line with Bank of Japan

2010-05-10T16:09:00.002-04:00

Release Date: May 10, 2010 For release at 12:00 p.m. EDT The Federal Open Market Committee has authorized re-establishment of its temporary U.S. dollar liquidity swap arrangement with the Bank of Japan. This arrangement is similar to the arrangements announced yesterday with the Bank of England, the European Central Bank, and the Swiss National Bank in that it

The Federal Reserve Describes Currency Swaps

2010-05-10T15:52:00.002-04:00

ECB decides on measures to address severe tensions in financial markets

2010-05-10T08:53:00.002-04:00

PRESS RELEASE10 May 2010 - ECB decides on measures to address severe tensions in financial marketsThe Governing Council of the European Central Bank (ECB) decided on several measures to address the severe tensions in certain market segments which are hampering the monetary policy transmission mechanism and thereby the effective conduct of monetary policy oriented towards price stability in the

Federal Reseve Announces Swap Facilities

2010-05-09T21:49:00.000-04:00

For release at 9:15 p.m. EDT In response to the re-emergence of strains in U.S. dollar short-term funding markets in Europe, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing the re-establishment of temporary U.S. dollar liquidity swap facilities. These facilities are designed to help improve liquidity

A Speech on the The Economics of Happiness by * Chairman Ben S. Bernanke At the University of South Carolina Commencement Ceremony, Columbia, South Carolina

2010-05-08T11:47:00.001-04:00

The Economics of Happiness I want to begin by thanking the Board of Trustees of the University of South Carolina, President Pastides, and this year's graduates for the great honor of addressing this commencement ceremony. Although I was born just across the border in Augusta, Georgia, I considered South Carolina my home from early childhood until I married and took my first academic job after

Minutes of the Meeting of the Treasury Borrowing Advisory Committee Of the Securities Industry and Financial Markets Association

2010-05-07T20:37:00.000-04:00

Minutes of the Meeting of the Treasury Borrowing Advisory Committee Of the Securities Industry and Financial Markets Association May 4, 2010 The Committee convened in closed session at the Hay-Adams Hotel at 11:15 a.m. All Committee members were present except for Paul McCulley. Assistant Secretary Mary Miller, Deputy Assistant Secretary (DAS) for Federal Finance Matthew Rutherford and Acting

LLoyd Blankfein Opening Remarks at 2010 Goldman Sachs Shareholder Meeting

2010-05-07T14:23:00.001-04:00

Before we get into the formal agenda of our shareholder meeting, I wanted to address some important issues that are on all of our minds. The last few weeks have obviously been a difficult and disappointing period for the firm. Most significantly, questions have been raised that go to the heart of this institution’s most fundamental value: how we treat our clients. Our success has been and will

New York Stock Exchnage Holiday Schedule 2010 and 2011

2010-05-06T19:23:00.000-04:00

The New York Stock Exchange, NYSE, is open from Monday through Friday 9:30 a.m. to 4:00 p.m. ET. 2010 2011 New Year's Day January 1 - Martin Luther King, Jr. Day January 18 January 17 Washington's Birthday/Presidents' Day* February 15* February 21* Good Friday April 2 April 22 Memorial Day May 31 May 30 Independence Day July 5 (

Volcker Letter to Lawmakers Opposing Amendments to Audit the Fed

2010-05-06T14:46:00.001-04:00

The following is the full text of a letter sent by former Federal Reserve Chairman Paul Volcker to Senate Banking Committee Chairman Christopher Dodd and Ranking Member Richard Shelby about proposed amendments to financial overhaul aimed at auditing the Fed . Dear Chairman Dodd and Senator Shelby: I am writing about an issue bearing upon the Federal Reserve’s independence in conducting monetary

Bernanke Letter to Dodd Opposing Amendments to Audit the Fed

2010-05-06T14:42:00.000-04:00

The following is the full text of a letter Federal Reserve Chairman Ben Bernanke sent to Senate Banking Committee Chairman Christopher Dodd over a proposed amendment to the financial overhaul to audit the Fed. Dear Chairman: I am writing to express my deep concern about possible amendments to the Senate financial regulatory reform bill (S. 3217) that would, for the first time, permit the

Chairman Ben S. Bernanke At the Federal Reserve Bank of Chicago 46th Annual Conference on Bank Structure and Competition, Chicago, Illinois

2010-05-06T10:05:00.000-04:00

The Supervisory Capital Assessment Program--One Year Later Almost exactly a year ago, the Federal Reserve and the other bank regulatory agencies publicly reported the results of the Supervisory Capital Assessment Program, or SCAP, also known as the bank stress test.1 In many respects, the SCAP was a milestone in both the financial crisis and in the practice of banking supervision. By helping to

6 May 2010 - Monetary policy decisions

2010-05-06T09:41:00.000-04:00

At today’s meeting, which was held in Lisbon, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively. The President of the ECB will comment on the considerations underlying these decisions at a press conference

Treasury Secretary Timothy F. Geithner Testimony before the Financial Crisis Inquiry Commission Causes of the Financial Crisis and the Case for Reform

2010-05-06T09:16:00.000-04:00

Chairman Angelides, Vice Chairman Thomas, members of the Commission, thank you for the opportunity to testify. Nearly eight decades ago, after a series of banking crises led to the Great Depression, the United States put in place broad protections over the financial system. These reforms – deposit insurance, prudential rules to limit risk-taking by banks, and improved transparency and investor

Statement of Treasury Secretary Geithner on Financial Reform

2010-05-05T18:26:00.001-04:00

The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner on the Senate's approval of the Shelby-Dodd amendment: "We welcome today's action by the Senate to approve the Shelby-Dodd amendment and commend Chairman Dodd and Senator Shelby for their leadership. The strong bipartisan support for this provision demonstrates the growing momentum for passing