Federal Reserve System
Kohn: Nomination as Vice Chairman to the Board
In testimony given on 8 June Donald Kohn of the Federal Reserve said that rising prices had raised an inflation "warning flag" that demanded attention, in the latest hawkish remarks from central bank policymakers.
What drives volatility persistence in FX market?
The Federal Reserve Board Discussion Paper "What drives volatility persistence in the foreign exchange market?" published May 2006 analyses the factors driving the widely-noted persistence in asset return volatility using a unique dataset on global euro…
Fed's Bies on effective risk management
In the speech 'Challenges of conducting effective risk management in community banks' given on 6 June Susan Schmidt Bies of the Federal Reserve said US banking regulators are warily eyeing concentrations of commercial real estate loans and worry some…
New York Fed's Economic Policy Review, May 2006
The Federal Reserve Bank of New York has published the May 2006 edition of its Economic Policy Review. The latest edition includes the article "Trading risk, market liquidity, and convergence trading in the interest rate swap spread".
Fed's Poole sees stagflation possibility
If inflation expectations are rising, a slowing economy may not reduce inflation pressures, said St. Louis Federal Reserve President William Poole, quoted in the Wall Street Journal online edition.
Greenspan picks writer to help with memoirs
Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist him on his memoirs, The New York Times reported.
Fed's Hoenig says too soon to be behind curve
Kansas president Thomas Hoenig said on Tuesday 6 June that monetary policy acts with a lag and, as a result, it was premature to say the U.S. central bank was "behind the curve" in raising interest rates.
Fed's Bernanke on the outlook for the U.S. economy
In the speech 'Panel discussion: Comments on the outlook for the U.S. economy and monetary policy' given on 5 June Ben Bernanke of the Federal Reserve said recent increases in measures of inflation ``are unwelcome'' and he will ensure the trend isn't…
Philadelphia Fed names new president
The Federal Reserve Bank of Philadelphia announced Tuesday 6 June that Charles I. Plosser, a professor of economics, has been named president of the Philadelphia Fed.
St Louis Fed's Central Banker, Summer 2006
The St. Louis Fed has published the Summer 2006 edition of its Central Banker magazine. In the article "Our strategic direction: The big picture" First Vice President Dave Sapenaro shares where the Bank is headed.
Chicago Fed's Moskow on the US economic outlook
In the speech 'US economic outlook and the role of inflation inertia' given on 2 June Michael Moskow of the Federal Reserve Bank of Chicago said US inflation will likely stay contained but is at the top end of the price-stability zone and interest-rate…
NY Fed's Geithner on uncertainty and transparency
In the speech 'Uncertainty and transparency in the conduct of monetary policy' given on 31 May Timothy Geithner of the Federal Reserve Bank of New York said the neutral range of U.S. interest rates is almost impossible to capture, making the near-term…
Kohn Senate hearing set for 8 June
The Senate Banking Committee said on Thursday 1 June that it will hold a hearing on the nomination of Federal Reserve governor Donald Kohn to be vice chairman at the Fed next Thursday.
Fed minutes show uncertainty on future hikes
Federal Reserve policymakers at their May meeting considered raising a key interest rate by half a percentage point before deciding on a quarter-point increase, minutes published Wednesday 31 May showed.
Bernanke subcommittee to explore communication
Federal Reserve chairman Ben Bernanke has called on three experienced Fed officials to explore a broad range of issues related to how the Fed talks to financial markets.
Former Fed chair Volcker faults US policy
Former chairman of the Federal Reserve Paul Volcker has said US policy abroad is too abrasive.
Fed's Olson on community development
In the speech 'Community development and the bigger picture' given on 25 May Mark Olson of the Federal Reserve said recent news on the U.S. economy has been positive on balance and forecasters expect activity to moderate to a more sustainable pace than…
Comment: May in Review
Inflation concerns and financial markets volatility returned in the month of May - central bankers around the world, in both the developed and developing world, are suddenly confronted with a very different environment.
Fed can't ignore stock, home prices says Bernanke
Fed chairman Ben Bernanke said in a written response to a senator that the US central bank cannot turn a blind eye to price changes for stocks and homes when deciding on interest rates, but should take action only when they threaten the overall economy.
Bernanke to deliver MIT's commencement address
Federal Reserve chairman Ben Bernanke will deliver the main commencement address at the Massachusetts Institute of Technology on 9 June.
Chicago Fed National Activity Index, April 2006
The Chicago Fed National Activity Index for April 2006, published 18 May, was +0.38 in April, up slightly from +0.35 in March.
Fisher on globalization's impact on U.S. growth
In the speech 'Globalization's impact on U.S. growth and inflation' given on 22 May Richard Fisher of the Federal Reserve Bank of Dallas said Washington policymakers don't understand how globalization has changed the world economy.
Fed's Olson on compliance risk management
In the speech 'Compliance risk management in a diversified environment' given on 16 May Mark Olson of the Federal Reserve said the Fed is pleased that large banks are creating senior positions to oversee whether institutions are in step with regulations…
Fed's Kroszner on innovative statistics
In the speech 'Innovative statistics for a dynamic economy' given on 24 May Randall Kroszner of the Federal Reserve said that Congress should spend money and seek new approaches to bring U.S. economic statistics into the new century.