Federal Reserve System
Fed's Mishkin on monetary policy and dual mandate
In the speech 'Monetary policy and the dual mandate' given on 10 April Frederic Mishkin of the Federal Reserve said the aim of the Federal Reserve is to promote both stable prices and maximum employment, which can occasionally lead to competing interests…
St Louis Fed's Regional Economist, April 2007
The St Louis Fed's Regional Economist for April 2007 includes the article 'Growth in Asia spurs oil price increases'. The rapid growth in China and India has led to an increase in demand for oil, which, in turn, has driven up prices. After adjusting for…
Fed's Bernanke on the Community Reinvestment Act
In the speech 'The Community Reinvestment Act: Its evolution and new challenges' given on 30 March Ben Bernanke of the Federal Reserve said a U.S. law that requires banks to serve the less affluent has widened access to credit and helped increase home…
Phil Fed paper on competitive effects of Basel II
Analyzing the potential competitive effects of the proposed Basel II capital regulations on U.S. bank credit card lending, the authors of the Philadelphia Fed Working Paper "Competitive effects of Basel II on US bank credit card lending" find that bank…
Richmond's Lacker on community affairs research
In a speech given on 29 March Jeffrey Lacker of the Federal Reserve Bank of Richmond said it was hard to know when restricting access to credit to protect some borrowers was worth choking off credit to others.
Paper: The Eurosystem, Fed and Bank of Japan
The ECB Working Paper "The Eurosystem, the US Federal Reserve and the Bank of Japan: similarities and differences" provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan.
Fed's Braunstein on subprime mortgages
In the speech 'Subprime mortgages' given on 27 March Sandra Braunstein of the Federal Reserve said the Federal Reserve has "great concern" about the surge in mortgage delinquencies and foreclosures.
Fed's Bernanke on the economic outlook
In testimony "The economic outlook" given on 28 March Ben Bernanke of the Federal Reserve said growing troubles in the market for risky mortgages thus far don't appear to be spreading to the overall economy but the situation bears close watching.
Putting Bernanke's testimony in perspective
According to this article from MarketWatch, published Wednesday 28 March, the Federal Reserve's announcement last week that it was adopting a neutral bias on interest rate policy could turn out to be a fairytale that doesn't come true.
Chicago Fed National Activity Index, February 2007
The Chicago Fed National Activity Index for February 2007, published 26 March, was +0.03 in February, up from -0.72 in January.
Pianalto says FOMC eyeing inflation risks
The Federal Reserve is keeping an eye on inflation because of a risk that price growth will not moderate as much as it had expected, Cleveland Federal Reserve president Sandra Pianalto said on Tuesday 27 March.
Bernanke says Chinese $ holdings not problem
China`s accumulation of United States debt is not a problem for the US or for the Federal Reserve monetary policy, Federal Reserve chairman Ben Bernanke said in a letter dated 16 March but released on Monday 27 March.
Fed's Mishkin on inflation dynamics
In the speech 'Inflation dynamics' given on 23 March Frederic Mishkin of the Federal Reserve said core US inflation is likely to drop to 2 percent from about 2 1/4 percent, but pushing it below that may require higher interest rates.
Fed's Mishkin said to fuel inflation target
According to an article from the Financial Times, published Monday 26 March, financial markets are likely to interpret Frederic Mishkin's recent speech (reported separately today) as further evidence that the Federal Reserve is stepping away from a…
Fed's Kohn on asset-pricing puzzles, credit risk
In the speech 'Asset-pricing puzzles, credit risk, and credit derivatives' given on 22 March Donald Kohn of the Federal Reserve said credit derivatives may reduce long-run risk premiums for stocks and bonds by helping markets share risks more evenly.
Fed's Kroszner on innovations in credit markets
In the speech 'Recent innovations in credit markets' given on 22 March Randall Kroszner of the Federal Reserve said fast-growing credit derivative markets have helped spread risks more widely but have not made them disappear.
Fed steps back from a tilt toward higher rates
According to this article from John Berry at Bloomberg, published Thursday 22 March, Federal Reserve officials have taken a small step toward a more balanced view of whether their next interest rate move would be up or down.
McTeer says FOMC 'frozen in place'
The Federal Reserve will hold interest rates steady amid "unusual" simultaneous signals of both higher inflation and slower growth in coming months, said Robert McTeer, former president of the Federal Reserve Bank of Dallas, in an interview published…
Philadelphia Fed Business Review, 1st Quarter 2007
The Federal Reserve Bank of Philadelphia published its Business Review for the First Quarter 2007 on 20 March. In the article "Trade deficits aren't as bad as you think," George Alessandria offers an alternative view to the mainstream: Trade deficits…
Philadelphia Fed Business Outlook Survey, Mar 2007
According to the firms surveyed for the Philadelphia Fed's March 2007 Business Outlook Survey, activity in the region's manufacturing sector was mostly steady again this month.
New York Fed's Economic Policy Review, March 2007
The Federal Reserve Bank of New York has published the March 2007 edition of its Economic Policy Review. The latest edition includes the article "The Emergence of 'Regular and Predictable' as a Treasury Debt Management Strategy".
Greenspan says subprime spillover unlikely
Problems facing lenders of risky mortgages are not likely to spill over into the broader economy unless housing prices see another substantial fall, former Fed chairman Alan Greenspan said Thursday 15 March.
Fed's Kroszner on changing dynamics of inflation
In the speech 'The changing dynamics of inflation' given on 12 March Randall Kroszner of the Federal Reserve said the Federal Reserve cannot be complacent about inflation and would act if currently benign inflation expectations change.
Fed's Kohn on the evolving inflation process
In the speech 'Understanding the evolving inflation process' given on 9 March Donald Kohn of the Federal Reserve said the Fed must keep a close watch on inflation expectations, which are "critical" to the conduct of monetary policy.