Fed's Word on Bankers' Regulatory Concern: Mum

He will keep the pedal to the metal deep into 2013 WASHINGTON — Federal Reserve Chairman Ben Bernanke faces the first of two days of congressional testimony that will subject the Fed’s controversial bond-buying program to tough scrutiny and gauge his confidence in the resilience of the U.S. economy.

Central Banking’s Split Personality Can’t Go On

WASHINGTON (Reuters) - A top Federal Reserve official on Tuesday renewed a call for tighter rules governing the so-called shadow banking system, in which financial firms exchange large amounts of cash, to prevent a repeat of the panic that provoked the financial crisis of 2007-2009. Fed Governor Daniel Tarullo did not comment on the outlook for the economy or monetary policy in the speech, which covered similar ground to remarks he made last month. Tarullo said that despite financial reforms, the shadow banking system has the potential to destabilize the broader financial system. ...

WASHINGTON (Reu

IN AN effort to boost transparency, the Federal Reserve now releases full transcripts of its Federal Open Market Committee meetings. In an effort to limit transparency, however, it does so on a lag. As of today, therefore, we are able to look back and see what was said in Fed meetings in 2006. In commemoration of this moment, Free exchange now presents: A selection of comments from Federal Open Market Committee meetings which resulted in laughter.From the meeting of January 31:

WASHINGTON — Federal Reserve Chairman Ben Bernanke strongly defended the U.S. central bank’s bond-buying stimulus before Congress on Tuesday, saying its benefits clearly exceed possible costs. The Fed chairman also urged lawmakers to avoid sharp spending cuts set to go into effect on Friday, which he warned could combine with earlier tax increases to create a “significant headwind” for the economic recovery.

Six of Wall Street's most powerful CEOs including JPMorgan's Jamie Dimon and BofA's Brian Moynihan met with Federal Reserve Gov. Daniel Tarullo about new regulations. Citi's Vikram Pandit was surprisingly absent.

Federal Reserve Governor Daniel Tarullo may have lost sense of reality by suggesting banks increase