Economy needs to tighten up before rates can rise: Fed's Powell

(Reuters) - Federal Reserve Governor Jerome Powell said on Friday that he wanted to see signs that the U.S. economy was tightening up before before interest rates could be raised.

Fed's Kocherlakota: diversity improves policymaking

(Reuters) - A diverse workforce that cuts across gender, ethnic and geographic lines can improve policymaking by generating a larger and better pool of ideas, Minneapolis Federal Reserve Bank President Narayana Kocherlakota said on Friday.

Fed's Bullard: Financial Stability Concerns Loom Large

HONG KONG – St. Louis Federal Reserve Bank President James Bullard said Thursday that the key risk for U.S. economy would be a bubble forming as the central bank removes monetary-policy accommodations, while he also raised concerns about financial stability in the U.S. economy.

BOE Will Keep Reviewing Performance of Economic Forecast Model

The Bank of England said that it will continually review its forecasting framework and has made it flexible enough to change its central model if needed, according to a research paper published by the central bank today.

ECB's Benoit Coeure says central banks cannot replace government inaction

CAMBRIDGE: Governments are in a key role in solving the sovereign debt crisis, and central banks can buy time, not replace their actions, European Central Bank Executive Board member Benoit Coeure said on Saturday.

Fed official alleges Geithner may have alerted banks to rate cut

WASHINGTON (Reuters) - In the summer of 2007, as storm clouds gathered over the world's financial system, then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America and other banks about the possibility the U.S. central bank would lower one of its critical interest rates, according to a senior Fed official.

Sweden Should Set Up Financial Stability Committee-Research Body

STOCKHOLM -(Dow Jones)- Sweden should establish a new committee based at its central bank with responsibility for the country's financial stability, a Swedish research body said in a report Thursday.

Buiter Says It’s a Mistake to Give BOE Bank Supervision Powers

Former Bank of England policy maker Willem Buiter said it’s a “mistake” to place full responsibility for financial stability with Governor Mervyn King, criticizing a government plan to overhaul banking regulation.

“The Bank of England is greatly overburdened and too powerful in this proposed construction, especially the governor and the two deputy governors,” Buiter said at a U.K. parliament hearing in London today. “The obvious solution is to remove prudential supervision from the bank.”