[Fed News] Monetary Policy Report - Feb, 2015
Testimony by Chair Yellen on the semiannual Monetary Policy Report to the Congress
Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
February 24, 2015
[...]'The Committee judged, in December and January, that it can be patient in beginning to raise the federal funds rate. [...]'
Read full monetary report
[ECB News] Hearing before the Plenary of the European Parliament on the ECB Annual Report 2013
Brussels, 25 February 2015
'For several quarters now, inflation in the euro area has been on a continuous downward trend. At the same time, in January 2015 market participants were expecting inflation to return to levels closer to our policy aim only over a horizon which stretched well beyond any meaningful definition of medium term. In an environment of weak economic recovery and subdued money and credit developments, risks were increasing that falling inflation expectations would feed back into weakening actual inflation. Such a self-reinforcing process could have posed severe downside risks to our price stability objective. '
[nytimes.com] Morgan Stanley in $2.6 Billion Mortgage Settlement
'Morgan Stanley said on Wednesday that it had reached a $2.6 billion settlement with the Justice Department over the sale of mortgage securities before the financial crisis.'
By Nathaniel Popper