Items Tagged with 'Federal Reserve Bank of Kansas City'


  • Bernanke Sees Deeper Recession Without Intervention

    It's the mantra among regulators and echoed by Federal Reserve chairman Ben Bernanke on Friday: The recession -- pushed along by rising unemployment levels, plunging home values and growing delinquencies -- would be much worse had governmental bodies not stepped up to intervene.
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  • Fed's Hoenig: "Too Big to Fail" a Farce

    In surprisingly blunt criticism of both the government and his colleagues, Federal Reserve Bank of Kansas City chief Thomas Hoenig argued that "insolvent firms must be allowed to fail regardless of their size, market position or the complexity of operations." His Congressional testimony Tuesday morning to the Joint Economic Committee provided some of the strongest criticism of the government bailout yet by any major figure within the Federal Reserve.
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  • Fed's Hoenig: Allow Institutions to Fail

    Troubled financial institutions at times ought to be allowed to fail and their operations sold off, said Thomas Hoenig, president and CEO of the Federal Reserve Bank of Kansas City, in a speech Friday in Omaha, Neb. "We understandably would prefer not to 'nationalize' these businesses, but in reacting as we are, we nevertheless are drifting into a situation where institutions are being nationalized piecemeal with no resolution of the crisis," he said.
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  • Bernanke: No Such Thing as Containment, Fed Will 'Do What is Needed'

    In highly-anticipated comments today at the Federal Reserve Bank of Kansas City's Economic Symposium, Fed Chairman Ben Bernanke said that the Fed "will act as needed to limit the adverse effects on the broader economy that may arise from the disruptions in financial markets," and said that problems that began in the subprime mortgage market are clearly not contained.
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