Search Results
Speech
The role of the New York Fed as administrator and producer of reference rates: remarks at the Annual Primary Dealer Meeting, Federal Reserve Bank of New York, New York City
Remarks at the Annual Primary Dealer Meeting, Federal Reserve Bank of New York, New York City.
Speech
The Federal Reserve’s Market Functioning Purchases: From Supporting to Sustaining
Remarks at SIFMA Webinar.
Speech
Treasury Market Liquidity and Early Lessons from the Pandemic Shock
Remarks at Brookings-Chicago Booth Task Force on Financial Stability (TFFS) meeting, panel on market liquidity (delivered via videoconference).
Speech
The Federal Reserve’s Recent Actions to Support the Flow of Credit to Households and Businesses
Remarks before the Foreign Exchange Committee, Federal Reserve Bank of New York, New York City.
Speech
The U.S. economic outlook and monetary policy
Dallas Fed President Lorie Logan delivered this address on Jan. 18, 2023, at The University of Texas at Austin McCombs School of Business as part of her 360° in 365 Listening Tour of the Eleventh Federal Reserve District.
Discussion Paper
The Fed’s Balance Sheet Runoff: The Role of Levered NBFIs and Households
In a Liberty Street Economics post that appeared yesterday, we described the mechanics of the Federal Reserve’s balance sheet “runoff” when newly issued Treasury securities are purchased by banks and money market funds (MMFs). The same mechanics would largely hold true when mortgage-backed securities (MBS) are purchased by banks. In this post, we show what happens when newly issued Treasury securities are purchased by levered nonbank financial institutions (NBFIs)—such as hedge funds or nonbank dealers—and by households.
Speech
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).
Speech
Restoring price stability requires careful calibration
Dallas Fed President Lorie Logan delivered these remarks before the Dallas Business Club at Southern Methodist University.
Discussion Paper
The Fed’s Latest Tool: A Standing Repo Facility
In July 2021, the Federal Open Market Committee announced a new tool for monetary policy implementation: a domestic standing repurchase agreement facility. In the last post of this series, we explain what this new tool is and how it will support the effective implementation of monetary policy in the floor system through which the Fed implements policy.
Discussion Paper
How the Fed Adjusts the Fed Funds Rate within Its Target Range
At its June 2021 meeting, the FOMC maintained its target range for the fed funds rate at 0 to 25 basis points, while two of the Federal Reserve’s administered rates—interest on reserve balances and the overnight reverse repo (ON RRP) facility offering rate—each were increased by 5 basis points. What do these two simultaneous decisions mean? In today’s post, we look at “technical adjustments”—a tool the Fed can deploy to keep the FOMC’s policy rate well within the target range and support smooth market functioning.