Federal Reserve System
Fed's Fisher:The extended importance of the euro
In the speech 'The extended importance of the euro' given on 17 November Richard Fisher of the Federal Reserve Bank of Dallas said challenges remain for the euro area.
'Irrational exuberance' may now be more rational
According to this article from Bloomberg, published Tuesday 5 December, ten years after Alan Greenspan's "irrational exuberance" statement, share prices are rising again, but this time it might be more rational.
Fed's Bies on Basel II implementation
In the speech 'A U.S. perspective on Basel II implementation' given on 30 November Susan Schmidt Bies of the Federal Reserve defended a new capital plan for large U.S. banks but signalled that some cumbersome parts of the plan could be streamlined.
Bernanke programmes dilute Greenspan's intuition
According to this article published by Bloomberg on Monday 4 December, a small team of Federal Reserve staff is testing a new "factor model'' programme that does the work of hundreds of economists.
Chicago Fed's Moskow says US economy 'solid'
Federal Reserve Bank of Chicago President Michael Moskow said in an interview Monday 4 December that the U.S. economy is still "solid" and poised to approach 3 percent growth next year.
Fed's Kohn on monetary policy and uncertainty
In the speech 'Monetary policy and uncertainty' given on 1 December Donald Kohn of the Federal Reserve said policy makers should avoid relying on any single indicator because of uncertainties surrounding the accuracy of economic data and public behaviour.
Fed's Bies backs Basel II
Susan Bies, a governor at the Federal Reserve, reiterated her commitment to the new capital accord, but noted that there would be differences in implementation in the US and across borders.
Goldmans' Dudley is Fed's new markets man
The New York Federal Reserve named William Dudley, an advisory director at Goldman Sachs, as an executive vice-president and the new head of its markets group.
November beige book released by Fed
The Federal Reserve recently released the latest issue of the beige book, an informal review series by the banks of current economic conditions.
Core CPI still "uncomfortably high" - Bernanke
Fed chairman, Ben Bernanke, appeared to pour cold water on suggestions of an imminent cut in US interest rates in a speech in New York on 28 November.
Philly Fed's Plosser hints at rate rise
Casting an eye over the current economic climate in the US, the president of Philadelphia's Reserve Bank said there was some risk that policy is not yet firm enough for a return to price stability over a reasonable time horizon.
Explaining Fed watchers' mistakes
The authors of this ECB working paper argue that the heterogeneity in the views of private sector Fed watchers is explained by the educational employment backgrounds, as well as by where they are located.
Lower growth, inflation forecast in US - survey
The rate of growth in US output over the next few quarters looks slower now than it did just three months ago, according to 51 forecasters surveyed by the Federal Reserve Bank of Philadelphia.
Chicago Fed National Activity Index, October 2006
The Chicago Fed National Activity Index for October 2006, published 21 November, was -0.31 in October, slightly up from -0.38 in September. All of the four broad categories of indicators made negative contributions to the index.
Warsh on financial markets and the Federal Reserve
In the speech 'Financial markets and the Federal Reserve' given on 21 November Kevin Warsh of the Federal Reserve said the U.S. economy is still at risk of higher inflation, although market signals point to a gradual receding of price gains.
Fisher comfortable with current Fed policy
Federal Reserve Bank of Dallas president Richard Fisher said on Monday 20 November he was happy with the current policy stance of the U.S. central bank.
Milton Friedman, Nobel Prize winner, 1912-2006
Milton Friedman, a Nobel Prize winner, and one of the most influential economists of the 20th century, died in San Francisco on Thursday 16 November, aged 94.
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for July-September 2006, published 16 November, the U.S. monetary authorities did not intervene in the foreign exchange markets…
Dallas Fed chief sees dollar staying top currency
Federal Reserve Bank of Dallas President Richard Fisher said on Friday 17 November he does not expect a global shock that would be big enough to remove the dollar's status as the world's top currency.
Fed's Kroszner on conquest of worldwide inflation
In the speech 'The conquest of worldwide inflation: Currency competition and its implications for interest rates and the yield curve' given on 16 November Randall Kroszner of the Federal Reserve said better performance by central banks around the world…
Fed minutes show concern on curbing inflation
Keeping inflation under control remains the top concern for Federal Reserve policymakers, minutes published Wednesday 15 November showed.
Rubin, Volcker see shift away from dollar
Robert E. Rubin, Treasury secretary under President Bill Clinton, and former Federal Reserve chairman Paul Volcker have questioned whether foreign investors will keep increasing dollar holdings.
Bernanke seen as unlikely to push inflation target
This article from the Finanical Times, published Wednesday 15 November, says that fallout from the Democrats recent victories could include a slow down in Ben Bernanke's drive to lead the Federal Reserve towards adopting a numerical inflation target.
NY Fed to change Treasury holdings cap
The Federal Reserve Bank of New York said on Monday 13 November it was changing the limits on its holdings of U.S. Treasury securities in its portfolio.