In 1913, Congress purposefully created the Federal Reserve as an independent central bank, which created a fundamental tension: how to ensure the Fed remains accountable to the electorate without losing its independence. Over the years, there have been changes in the Fed’s structure to improve...

"Quantitative easing" has been in the headlines a lot from 2009 to 2011. First there was QE and then QE2. What exactly is quantitative easing, who does it, and how does it affect the economy? This month's newsletter has the answers.

Although the recent Great Recession was severe, its financial impact never paralleled that of the Great Depression. The November Newsletter compares these two economic downturns and shows how lessons learned in the Great Depression helped current Federal Reserve policymakers stabilize the...

"Quantitative easing" has been in the headlines a lot from 2009 to 2011. First there was QE and then QE2. What exactly is quantitative easing, who does it, and how does it affect the economy? This month's newsletter has the answers.

Although the recent Great Recession was severe, its financial impact never paralleled that of the Great Depression. The November Newsletter compares these two economic downturns and shows how lessons learned in the Great Depression helped current Federal Reserve policymakers stabilize the...

The economic crisis and its aftermath have posed significant challenges to policymakers. To help meet those challenges, the Federal Reserve deployed several innovative policy tools to help relieve the stress in financial markets during the crisis. These tools have created their own significant...

Remarks before the Greater Houston Partnership, Houston, Texas, September 1, 2010 ; "If the fiscal and regulatory authorities are able to dispel the angst that they are reportedly causing, further accommodation may not be needed because the liquidity that has been built up on corporate balance...