United States
Frankel on currency crises
In the 2004 Mundell-Fleming lecuture, given at the IMF on 5 November, Professor Jeffrey Frankel examines currency crisis, and their political fallout.
Bumpy road seen for next Fed chief
Newly re-elected George W. Bush is likely to pick from five "qualified" successors to fill Federal Reserve chairman Alan Greenspan's shoes, this article says, with the real issue being their ability to match chairman Greenspan's deft touch in the conduct…
Federal Reserve raises rates to 2%
The Federal Open Market Committee decided on Wednesday 10 November to raise its target for the federal funds rate by 25 basis points to 2 per cent. The FOMC said "Output appears to be growing at a moderate pace despite the rise in energy prices, and…
Fed expected to raise rates on 10 November
The Federal Reserve was widely expected to raise US interest rates on Wednesday 10 November at the conclusion of its FOMC meeting after the unexpected boom in US job creation in October.
Fed's Bies on financial supervision issues
In a speech on 'Financial supervision issues' given on 5 November, Susan Schmidt Bies of the Federal Reserve said the US government budget has become a "cookie jar" for lawmakers over the past four years, with taxpayer funds spent in some cases for …
Chicago Fed's Moskow on community development
In a speech on 'Lessons for Community Development Financial Institutions' given on 5 November, Michael Moskow of the Federal Reserve Bank of Chicago said Community banks could learn from some of their competitors, such as check-cashing services, and…
List of Greenspan successors shrinks
The re-election of President George Bush sharply narrows the field of candidates to succeed Alan Greenspan as Federal Reserve chief, this article says. Steven Cecchetti is quoted as saying Martin Feldstein is the unconditional best candidate.
Dallas Fed's McTeer says 'Goodbye and howdy'
Federal Reserve Bank of Dallas President Bob McTeer resigned on Thursday 4 October to become chancellor at Texas A&M University, ending a 36-year career in the Federal Reserve system. In a statement posted on the Dallas Fed's website on Thursday titled …
Taylor predicts smooth deficit adjustment in US
US Treasury Under secretary John Taylor has said he expects a smooth adjustment in the large US current account deficit. While some have bemoaned the increase in the deficit, Taylor said it was good news.
IMF's Rato calls on Bush to work on deficits
IMF managing director Rodrigo Rato was quoted as saying on Friday 5 November that newly re-elected US president George Bush should turn his attention to the country's budget and trade deficits as part of a global push to spur growth after winning re…
Fed Reserve Bank of St Louis Review, Nov/Dec 2004
The latest edition of the St Louis Fed's Review for November-December 2004 includes the article "Monetary policy and asset prices: A look back at past U.S. stock market booms" which examines the economic environments in which past U.S. stock market booms…
Fed's Ferguson on business investment
In a speech on 'Factors influencing business investment' given on 26 October, Roger Ferguson of the Federal Reserve said US businesses are discarding their earlier caution and investing more in capital goods and structures.
Presidential victor replaces Greenspan
This article argues that for whoever wins the US presidential election, choosing a successor to Federal Reserve chairman Alan Greenspan may be the biggest economic choice that the election victor will face. Kerry may go for Robert Rubin or Lawrence…
Santomero says Fed's regional diversity important
Federal Reserve Bank of Philadelphia President Anthony Santomero made no comment on the economy or the outlook for interest rates at an event at the Philadelphia Stock Exchange on Monday 1 November but said the Fed's regional diversity helped ensure…
Fed's Ferguson on equilibrium real interest rate
In a speech on 'Equilibrium real interest rate: Theory and application' given on 29 October, Roger Ferguson of the Federal Reserve said that policymakers cannot rely on a formula to decide the proper level for U.S. interest rates, but must always judge…
Moskow stresses importance of local economies
Chicago Federal Reserve President Michael Moskow spoke at a conference on Friday 29 October, but made no comments on the economic outlook or monetary policy.
Interview with Philadelphia Fed's Santomero
In an interview published last Friday, 22 October, Philadelphia Fed President Anthony Santomero said that the Federal Reserve will be able to slow down the pace of interest rate rises if the economy grows less rapidly than it expects.
Federal Reserve appoints regional Fed chairmen
The Federal Reserve Board on Wednesday 27 October announced the appointment of the chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2005. Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington…
Federal Reserve Board - Beige Book, October 2004
The Federal Reserve has published its October 2004 Beige Book survey. The report said the economy grew in most regions of the United States in September and early October, despite signs that higher energy costs are beginning to bite.
Oil will not cause recession says Dallas Fed
Stephen Brown, the senior economist for the Federal Reserve Bank of Dallas said Tuesday that high oil prices are unlikely to push the U.S. economy into a recession.
SF Fed's Yellen on the national economy
In a speech on 'Perspectives on the national economy and monetary policy' given on 21 October, Janet Yellen of the San Francisco Fed said the Federal Reserve may need to speed up or slow down its rate-tightening campaign, depending on economic activity…
Fed's Bernanke on oil and the economy
In a speech on 'Oil and the economy' given on 21 October, Ben Bernanke of the Federal Reserve said soaring oil prices now represent a "significant shock" to the US economy but the longer-term impact should be manageable.
Philadelphia Fed Business Outlook Survey, Oct 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, October 2004, activity in the region's manufacturing sector continued to improve. In this months survey the participants were asked about their plans and expectations for…
Fed's Bies on the Federal Reserve and the economy
In a speech on 'The Federal Reserve System and the economy' given on 23 October, Susan Schmidt Bies of the Federal Reserve said the Fed will keep an eye on how much surging oil costs affect consumer prices but said she expects underlying inflation to…