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 Collection: Congressional Research Service Reports
Changing the Federal Reserve's Mandate: An Economic Analysis

Changing the Federal Reserve's Mandate: An Economic Analysis

Date: March 13, 2012
Creator: Labonte, Marc
Description: This report discusses a number of implementation issues surrounding an inflation target. These include what rate of inflation to target, what inflation measure to use, whether to set a point target or range, and what penalties to impose if a target is missed.
Contributing Partner: UNT Libraries Government Documents Department
Changing the Federal Reserve's Mandate: An Economic Analysis

Changing the Federal Reserve's Mandate: An Economic Analysis

Date: February 25, 2011
Creator: Labonte, Marc
Description: This report discusses a number of implementation issues surrounding an economic inflation target. These include what rate of inflation to target, what inflation measure to use, whether to set a point target or range, and what penalties to impose if a target is missed.
Contributing Partner: UNT Libraries Government Documents Department
Designating Systemically Important Financial Institutions (SIFIs)

Designating Systemically Important Financial Institutions (SIFIs)

Date: August 28, 2014
Creator: Labonte, Marc
Description: This report discusses congressional concerns regarding the Financial Stability Oversight Council's (FSOC) authorization to designate certain non-bank entities as Systemically Important Financial Institutions (SIFI).
Contributing Partner: UNT Libraries Government Documents Department
Designating Systemically Important Financial Institutions (SIFIs)

Designating Systemically Important Financial Institutions (SIFIs)

Date: March 20, 2015
Creator: Labonte, Marc
Description: This report briefly discusses congressional concerns regarding the Financial Stability Oversight Council's (FSOC) authorization to designate certain non-bank entities as Systemically Important Financial Institutions (SIFI).
Contributing Partner: UNT Libraries Government Documents Department
The Economic Implications of the Long-Term Federal Budget Outlook

The Economic Implications of the Long-Term Federal Budget Outlook

Date: January 4, 2010
Creator: Labonte, Marc
Description: This report analyzes the long-run path of the federal budget. The United States is projected to undergo a demographic shift as the aging of the baby boomers causes an unprecedented increase in the fraction of the population that is retired. Coupled with rising life expectancy, this means, under current policy, a steady increase in the portion of the population that is both out of the workforce and receiving social insurance benefits from the government.
Contributing Partner: UNT Libraries Government Documents Department
The Economic Implications of the Long-Term Federal Budget Outlook

The Economic Implications of the Long-Term Federal Budget Outlook

Date: January 3, 2011
Creator: Labonte, Marc
Description: Report that analyzes the long-run path of the federal budget in the face of a projected demographic shift as aging baby boomers retire, coupled with the 2007 financial crises.
Contributing Partner: UNT Libraries Government Documents Department
Evaluating the Current Stance of Monetary Policy Using a Taylor Rule

Evaluating the Current Stance of Monetary Policy Using a Taylor Rule

Date: January 30, 2012
Creator: Labonte, Marc
Description: Oversight of the Federal Reserve's (Fed's) monetary policy decisions rests with Congress. But oversight is encumbered by the absence of a straightforward relationship between interest rates and economic performance. Further, the Fed's policy decisions are discretionary, meaning there is no objective, transparent “yardstick” for evaluating their decisions. A simple rule of thumb guide to monetary policy decisions called a “Taylor rule” is an intuitive way to judge actual policy against some objective, albeit simplistic, ideal. Taylor rules prescribe a federal funds target based on inflation and the output gap (i.e., the difference between actual gross domestic product [GDP] and potential GDP) and can be adjusted to reflect a variety of policy goals.
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Emergency Lending

Federal Reserve: Emergency Lending

Date: September 8, 2015
Creator: Labonte, Marc
Description: This report provides a review of the history of Section 13(3) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act; P.L. 111-203), including its use in 2008. It discusses the Federal Reserve's (Fed's) authority under Section 13(3) before and after the Dodd-Frank Act. It then discusses policy issues and legislation to amend Section 13(3).
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Emergency Lending

Federal Reserve: Emergency Lending

Date: November 25, 2015
Creator: Labonte, Marc
Description: This report provides a review of the history of Section 13(3) of the Federal Reserve Act (12 U.S.C. 344), including its use in 2008. It discusses the Fed's authority under Section 13(3) before and after the Dodd-Frank Act. It then discusses policy issues and legislation to amend Section 13(3).
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Emergency Lending

Federal Reserve: Emergency Lending

Date: January 6, 2016
Creator: Labonte, Marc
Description: This report provides a review of the history of Section 13(3) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act; P.L. 111-203), including its use in 2008. It discusses the Federal Reserve's (Fed's) authority under Section 13(3) before and after the Dodd-Frank Act as well as policy issues and legislation to amend Section 13(3).
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Legislation in the 114th Congress

Federal Reserve: Legislation in the 114th Congress

Date: May 19, 2016
Creator: Labonte, Marc
Description: This report analyzes provisions and the policy debate surrounding a number of bills that would affect the Federal Reserve's (Fed's) monetary policy, lender of last resort, and regulatory responsibilities. The Fed's responsibilities as the nation's central bank fall into four main categories: monetary policy, provision of emergency liquidity through the lender of last resort function, supervision of certain types of banks and other financial firms for safety and soundness, and provision of payment system services to financial firms and the government.
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Oversight and Disclosure Issues

Federal Reserve: Oversight and Disclosure Issues

Date: December 1, 2015
Creator: Labonte, Marc
Description: This report provides an overview of existing Fed oversight and disclosure practices. It also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Oversight and Disclosure Issues

Federal Reserve: Oversight and Disclosure Issues

Date: January 4, 2016
Creator: Labonte, Marc
Description: This report provides an overview of existing Fed oversight and disclosure practices. It also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Oversight and Disclosure Issues

Federal Reserve: Oversight and Disclosure Issues

Date: January 13, 2016
Creator: Labonte, Marc
Description: This report provides an overview of existing Federal Reserve (Fed) oversight and disclosure practices. It also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Contributing Partner: UNT Libraries Government Documents Department
Federal Reserve: Oversight and Disclosure Issues

Federal Reserve: Oversight and Disclosure Issues

Date: May 24, 2016
Creator: Labonte, Marc
Description: This report provides an overview of existing Federal Reserve (Fed) oversight and disclosure practices, highlighting recent legislative changes and proposals. It also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Contributing Partner: UNT Libraries Government Documents Department
Financial Regulatory Reform: Systemic Risk and the Federal Reserve

Financial Regulatory Reform: Systemic Risk and the Federal Reserve

Date: May 26, 2010
Creator: Labonte, Marc
Description: This report defines the potential duties and responsibilities of a systemic risk regulator, relating those duties to events that potentially contributed to the recent crisis. It then identifies the powers that would need to be given to a regulator to perform those duties, and compares those powers and responsibilities to the Fed's existing powers and responsibilities. It discusses advantages and disadvantages of giving those responsibilities to the Fed or the executive branch. It also includes a brief overview of major elements of the Administration's proposal, H.R. 4173, which passed the House on December 11, 2009, and S. 3217, which passed the Senate on May 20, 2010,2 that involve the Fed.
Contributing Partner: UNT Libraries Government Documents Department
Financial Turmoil: Comparing the Troubled Asset Relief Program to the Federal Reserve's Response

Financial Turmoil: Comparing the Troubled Asset Relief Program to the Federal Reserve's Response

Date: October 8, 2008
Creator: Labonte, Marc
Description: As financial conditions have deteriorated over the past year, the Federal Reserve (FeD) has greatly increased its lending to financial firms. It has also expanded the scope of eligible borrowers to include non-bank financial firms. Some have asked why these loans have not restored financial stability, and if the purchase of up to $700 billion of distressed assets through the recently enacted Troubled Asset Relief Program (TARP) might lead to a different result. Financial assistance to financial firms entails considerable risks to taxpayers. This report analyzes the risks and possible benefits of federally-assisted loans to banks and financial firms, especially in light of the financial crisis that came to a head in September 2008.
Contributing Partner: UNT Libraries Government Documents Department
Financial Turmoil: Federal Reserve Policy Responses

Financial Turmoil: Federal Reserve Policy Responses

Date: July 15, 2010
Creator: Labonte, Marc
Description: The Federal Reserve (Fed) has been central in the policy response to the financial turmoil that began in August 2007. It has sharply increased reserves to the banking system through open market operations and lowered the federal funds rate and discount rate on several occasions. This report reviews the Fed's actions since August 2007 and analyzes the policy issues raised by those actions.
Contributing Partner: UNT Libraries Government Documents Department
Financing the U.S. Trade Deficit: Role of Foreign Governments

Financing the U.S. Trade Deficit: Role of Foreign Governments

Date: June 29, 2009
Creator: Labonte, Marc
Description: The nation's trade deficit is equal to the imbalance between national investment and national saving. The financial turmoil and economic contraction during 2008 reduced the gap between national saving and investment. The result was a decline in the trade deficit and the net inflow of capital. If total net capital inflows decline, mainstream economics suggests, all else held constant, that the dollar and trade deficit would decline, U.S. interest rates would rise, and U.S. spending on capital goods and consumer durables would fall, all else equal.
Contributing Partner: UNT Libraries Government Documents Department
Fixed Exchange Rates, Floating Exchange Rates, and Currency Boards: What Have We Learned?

Fixed Exchange Rates, Floating Exchange Rates, and Currency Boards: What Have We Learned?

Date: January 23, 2004
Creator: Labonte, Marc
Description: This report evaluates the benefits and drawbacks of different types of exchange rate regimes from the perspective of their effects on macroeconomic stability.
Contributing Partner: UNT Libraries Government Documents Department
The Government's Long-Term Fiscal Shortfall: How Much is Attributable to Social Security?

The Government's Long-Term Fiscal Shortfall: How Much is Attributable to Social Security?

Date: August 29, 2005
Creator: Labonte, Marc
Description: None
Contributing Partner: UNT Libraries Government Documents Department
The Government's Long-Term Fiscal Shortfall: How Much Is Attributable to Social Security?

The Government's Long-Term Fiscal Shortfall: How Much Is Attributable to Social Security?

Date: August 29, 2005
Creator: Labonte, Marc
Description: This report discusses social security in the context of the federal budget. One rationale given for Social Security reform is the large long-term fiscal shortfall that Social Security is projected to face.
Contributing Partner: UNT Libraries Government Documents Department
Is the U.S. Trade Deficit Caused by a Global Saving Glut?

Is the U.S. Trade Deficit Caused by a Global Saving Glut?

Date: November 4, 2005
Creator: Labonte, Marc
Description: This report discusses the concern about the size of the current U.S. account deficit, popularly known as the trade deficit. Also compares and analyzes the conventional view with the global saving glut view.
Contributing Partner: UNT Libraries Government Documents Department
Legislation Eliminating the Federal Reserve's Surplus

Legislation Eliminating the Federal Reserve's Surplus

Date: November 20, 2015
Creator: Labonte, Marc
Description: The Fed retains some of its profits in a surplus account, which currently has a balance of $29.3 billion. This report discusses H.Amdt. 824 to the highway bill (H.R. 22) and H.R. 3189, which would permanently eliminate the surplus.
Contributing Partner: UNT Libraries Government Documents Department