Federal Reserve System
Basel II - Comment and Analysis
A selection of the comment and analysis on the committee's proposals.
Condition of the U.S. banking system
US - Federal Reserve Board chairman Alan Greenspan testified before the Committee on Banking, Housing, and Urban Affairs at the U.S. Senate on 20 June.
Cathy Minehan, President Boston Fed Reserve Bank
SPEECH - Federal Reserve Bank of Boston President and Chief Executive Officer, Cathy Minehan spoke on 18 June at the Boston Municipal Research Bureau Semi-Annual Meeting, Swissotel, Boston, Massachusetts.
Testimony of Fed Vice Chairman Roger Ferguson
US - Roger W. Ferguson, Jr on 13 June gave his statement of renomination to the Federal Reserve Board, before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.
Fed names three senior staff to new positions
US - Three senior Federal Reserve staff will move into new roles at the Federal Reserve Board, the Fed said on 11 June.
Bush wants bank executive on Federal Reserve Board
US - President Bush has decided to nominate Susan Bies, a top official with a Tennessee bank, as a member of the Federal Reserve Board of Governors, a senior White House official said on 8 June.
Speech by Fed governor Laurence H Meyer
SPEECH - Federal Reserve governor Laurence H. Meyer has given a speech before the New York Association for Business Economics and The Downtown Economists, New York on 6 June.
Ed Kelley to resign from Federal Reserve Board
US - The Federal Reserve Board has released the following statement from Governor Edward W. Kelley, Jr., announcing his plans to resign from the Board after at least one of the current vacancies is filled.
Canada lowers key interest rate
CANADA - Canada's central bank trimmed its key overnight interest rate on 29 May by 25 basis points to 4.5 per cent, stating that while US demand for Canadian products had slowed during the first part of the year, the domestic economy continued to show…
Speech by Fed chairman Alan Greenspan
SPEECH - Federal Reserve chairman Alan Greenspan gave a speech on 24 May at the Economic Club of New York. In it he assesses the US economy's recent performance and speculates on the future.
Low inflation may erode bank's credibility
SPEECH - The Bank of England's credibility could be at risk if it continues to undershoot its 2.5 per cent inflation target for more than another two years, according to a member of the bank's Monetary Policy Committee.
The outlook for the economy
SPEECH - President Santomero of the Federal Reserve Bank of Philadelphia on the outlook for the US economy. He was speaking on 22 May at the County Chamber of Commerce, Philadelphia.
Fed resisted surprise cut in rates
US - The Federal Reserve's committee of policymakers considered a surprise cut on 11 April but held off for fear of upsetting volatile stock markets.
HM government gold auction result
UK - The Bank of England announces that the gold on offer (approximately 20 tonnes or 643, 200 ounces) has been allotted in full at a price of $268.00 per ounce.
Fed cuts rates by half a point
US - As was expected the US central bank the Federal Reserve has cut interest rates for the fifth time this year by 0.5%.
Fed sends clear signal of more rate cuts to come
US - Tuesday 15 May's interest rate cut of 0.5% by the Federal Reserve was the fifth consecutive half-point cut in short-term interest rates. Does this represent the end of the Federal Reserve's dramatic and unprecedented efforts to prop up the weakening…
New data poses US rate cut dilemma
US - For the fourth time this year the US central bank, the Federal Reserve, has to decide by just how much it will cut interest rates.
The effect of pessimism and doubt on asset returns
RESEARCH - Andrew Abel analyses the effects of pessimism and doubt on asset returns in a working paper published by the Federal Reserve Bank of Philadelphia.
Fed expected to make another US rate cut
US - The Federal Reserve is expected to make another anti-recession move on 15 May with an interest rate cut - to try to boost the ailing U.S. economy.
Sir Eddie George at the University of Zurich
SPEECH - The Governor of the Bank of England, Sir Eddie George, gave a speech at the Swiss Institute of International Studies, University of Zurich on May 7.
Good news reported by latest Fed Beige Book
RESEARCH - More evidence that the US economy has turned a corner after a steep six-month slide is reported in the latest Beige Book summary of regional economic conditions.
Supereconomies face clashes
EUROPE - Central bank politics is assuming an intriguing role in attempted reversal of the slowdown of the US economy and spreading effects on other parts of the world.
Shadow Committee slams Fed
According to the US Shadow Open Market Committee the Fed had lsot sight "of its long-run inflation objective of price stability" in its recent series of rate cuts.
International Economic Review article
RESEARCH - Jon Faust and Lars E. O. Svensson of the Board of Governors of the Federal Reserve, writing in the International Economic Review, define and study transparency, credibility, and reputation in a model where the central bank's characteristics…