CongressionalHearings/MonetaryPolicy/House_Financial_Services/HFS_-_July_21,_2009_Fed_Reserve/CHRG-111hhrg53244--200.txt Mr. Foster , '' And the second point is , do you think that the Fed is necessarily helpless to mitigate future real estate bubbles ? FOMC/FOMC20050809meeting/FOMC20050809meeting--163.txt MR. KOHN. Although core PCE data for 2004 and before were revised higher , incoming information about the most recent several months has suggested an appreciable short-term deceleration . FOMC/FOMC20071211meeting/FOMC20071211meeting--111.txt MR. KOHN. So the damping effect of lower Treasury rates on the cost of conforming housing credit will be held down . CongressionalHearings/Other/House_Agriculture_Committee/HAC_-_Over_the_Counter/CHRG-111hhrg53021Oth--348.txt Federal Reserve Programs The Federal Reserve has implemented a number of programs designed to stabilize financial markets since the onset of the crisis . CongressionalHearings/MonetaryPolicy/House_Banking_Committee/HB_-_June_3,_2009_Challenges_Facing_the_Economy:_View_from_Fed_Reserve/CHRG-111hhrg49968--149.txt On that latter issue , let me just begin by saying that the Federal Open Market Committee of the Federal Reserve is strongly committed to price stability . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_19,_2006_Fed_Reserve/CHRG-109shrg30354--2.txt Some of the most recent economic data make it clear the balancing act that the Federal Reserve now faces . FCIC/FCICFinalReport/fcic_final_report_full--430.txt Critics of Fed policy argue that , beginning under Chairman Greenspan and continuing under Chairman Bernanke , the Fed kept rates too low for too long and created a bubble in housing . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,_2005_Fed_Reserve/CHRG-109shrg24852--20.txt Mr. Chairman , to what extent does the Federal Open Market Committee consider the long-term interest rate in pursuing changes to the Federal funds rate ? CongressionalHearings/Dodd-Frank/CHRG-111hhrg56776/CHRG-111hhrg56776--113.txt I would specifically like to comment on the Federal Reserve 's interest rate setting body , the Federal Open Market Committee , which met yesterday . FCIC/FCICFinalReport/fcic_final_report_full--433.txt Fed Chairman Bernanke sums up the situation this way : `` At some point , both lenders and borrowers became convinced that house prices would only go up . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_24,_2009_Fed_Reserve/CHRG-111shrg50814--205.txt With the Federal funds rate near its floor , the Federal Reserve has taken additional steps to ease credit conditions . FOMC/FOMC20070321meeting/FOMC20070321meeting--3.txt MR. DUDLEY. Nevertheless , the potential gap between market expectations and the Committee 's interest rate expectations may pose a bit of a conundrum for the Committee . FOMC/FOMC20050630meeting/FOMC20050630meeting--356.txt MR. GUYNN. With respect to growth , the capital spending survey suggests that planned investment spending in our District remains solid . CongressionalHearings/Dodd-Frank/CHRG-111shrg56262/CHRG-111shrg56262--19.txt I will now turn to the agency mortgage market , which is also performing well , thanks to the extraordinary Government intervention over the past year . FOMC2008_csv/FOMC20080430meeting--3.txt MR. DUDLEY. I also want to inform the Committee of a small technical change that the staff plans to make in the TSLF program . FOMC/FOMC20070810confcall/FOMC20070810confcall--46.txt CHAIRMAN BERNANKE. The Federal Reserve will provide reserves as necessary through open market operations to promote trading in the federal funds market at rates close to the Federal Open Market Committee 's target rate of 5 1/4 percent . CongressionalHearings/MonetaryPolicy/House_Financial_Services/HFS_-_July_20,_2006/CHRG-109hhrg31539--242.txt Mr. Bernanke , '' Our research at the Federal Reserve has not found a significant impact of interventions by the GSE 's in terms of assisting the housing market during difficult times . '' FOMC2008_csv/FOMC20081216meeting--88.txt MS. PIANALTO. I support your view , Mr. Chairman , that we should keep our focus on expanding the asset side of our balance sheet . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_24,_2009_Fed_Reserve/CHRG-111shrg50814--207.txt The Federal Reserve will continue to use these tools as needed to help the economy recover and prevent inflation from falling to undesirably low levels.Q .2 . CongressionalHearings/Dodd-Frank/CHRG-111shrg55278/CHRG-111shrg55278--113.txt The Fed , too , lacks a record of success in managing large risks to the financial system , the economy and the public . FCIC/FCICFinalReport/fcic_final_report_full--57.txt Over time , banks and securities firms used securitization to mimic banking activities outside the regulatory framework for banks . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_19,_2006_Fed_Reserve/CHRG-109shrg30354--35.txt Chairman Shelby , '' Among that same lines , both your testimony , Mr. Chairman , and your written report this morning discuss the lag between Fed policy actions and their effects . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,2010_Fed_Reserve/CHRG-111shrg62643--230.txt Fortunately , concerns about consumer demand have diminished from a year ago , but they remain the most frequently cited problem . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_28,_2008_Fed_Reserve/CHRG-110shrg50369--144.txt Those facilities amount to $ 2 billion with the Bank of Canada and $ 3 billion with the Bank of Mexico . CongressionalHearings/Dodd-Frank/CHRG-111shrg54789/CHRG-111shrg54789--189.txt Poor regulation of abusive credit products by Federal regulators over many years has led to exactly the result that Mr. Yingling and Mr. Wallison are concerned about : credit rationing . FOMC/FOMC20061212meeting/FOMC20061212meeting--9.txt MR. KOS. Interestingly , the markets shrugged off the Chairman 's speech on November 28 and other comments by Committee members that focused more on inflation risks . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_24,_2009_Fed_Reserve/CHRG-111shrg50814--203.txt I am deeply interested in the Fed 's economic forecast for 2009 , and I look forward to hearing how the Fed will continue to address the problems plaguing our economy . CongressionalHearings/Dodd-Frank/CHRG-111hhrg53245/CHRG-111hhrg53245--21.txt They could n't gain consensus on stating simply that you ca n't make a mortgage loan to someone who ca n't pay you back . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,2010_Fed_Reserve/CHRG-111shrg62643--186.txt When that time comes , the Federal Reserve will act to increase short-term interest rates by raising the interest rate it pays on reserve balances that depository institutions hold at Federal Reserve Banks . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_22,2009_Fed_Reserve/CHRG-111shrg55117--68.txt Mr. Bernanke , '' But I do think that examiners should be appropriately weighing the fact that profitable lending to creditworthy borrowers is good for the bank and that maintaining those relationships is good for the bank . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_22,2009_Fed_Reserve/CHRG-111shrg55117--124.txt The purpose of today 's hearing is to oversee the Federal Open Market Committee 's conduct of monetary policy . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_25,2010_Fed_Reserve/CHRG-111shrg61513--124.txt When the Fed effectively finances an enormous portfolio holding of a specific class of assets using interest bearing debt issued to the public , how is that not a fiscal policy exercise?A .3 . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--27.txt As long as home prices kept rising , the high risk loans fueling the securitization markets produced few problems . CongressionalHearings/MonetaryPolicy/House_Banking_Committee/HB_-_June_9,_2010_State_of_the_Economy:_View_from_Fed_Reserve/CHRG-111hhrg56847--261.txt Mr. Chairman , the Treasury is pouring money into Fannie and Freddie , keeping it afloat to support the current structure of housing finance . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_15,_2008_Fed_Reserve/CHRG-110shrg50409--113.txt However , the Fed only accepts credit ratings from the three largest rating agencies for collateral taken at the various Fed facilities . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_14,_2006_Fed_Reserve/CHRG-109shrg26643--2.txt Our hearing this morning serves as an important part of the Committee 's oversight function over the Federal Reserve System . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,_2005_Fed_Reserve/CHRG-109shrg24852--5.txt Under your leadership , the Federal Reserve Board has done a good job monitoring the U.S. economy and managing monetary policy , as appropriate . FCIC/FCICFinalReport/fcic_final_report_full--32.txt That same month , Fed Chairman Greenspan acknowledged the issue , telling the Joint Economic Committee of the U.S. Congress that `` the apparent froth in housing markets may have spilled over into the mortgage markets . ''