Federal Reserve System
Interview with Minneapolis Fed's Gary Stern
In an interview with MarketWatch conducted on Friday 3 March, Minneapolis Fed president Gary Stern said he supports a formal inflation target to "lock in" current good policy practices, but he doesn't see any urgency in making changes. Stern also gave an…
Fed's Kohn on regulatory relief
In testimony 'Regulatory relief' given on 1 March Donald Kohn of the Federal Reserve said the Federal Reserve will continue to be "a strong and active supporter" of legislative efforts to provide regulatory relief in the banking sector.
Fed's Olson calls for Gulf region creativity
Federal Reserve Board Governor Mark Olson said on Thursday2 March that banks in the storm-hit Gulf Coast region are going to have to come up with creative solutions in the effort to rebuild operations.
Comment: Communication and predictability
Two recent studies investigate the effects of more open communication strategies at both the Fed and the ECB on the predictability of subsequent interest rate decisions. The conclusions reached differ considerably.
Fed's Ferguson on the economic outlook for the US
In the speech 'Economic outlook for the United States' given on 3 March Roger Ferguson of the Federal Reserve said the US economy is "solidly on track" but faces risks that could alter both its path and the direction of interest-rate policy.
Greenspan moved markets less
According to the article 'Greenspan moved markets less as Poole, Kohn gained influence' published Wednesday, new research shows former Federal Reserve Chairman Alan Greenspan's speeches moved the bond market less in 2005 than in prior years as William…
Significant progress on global financial stability
Senior regulators, who met on Wednesday 1 March, said that progress had been made in improving the stability of the global financial system, but noted that much more needed to be done.
Phil Fed's Santomero on the U.S. economy
In the speech 'The U.S. economy: How fast can we grow?' given on 23 February Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy's long-run potential growth rate is about 3.0 percent, which is consistent with the Fed…
Fisher on Asia, trade deficits and the US economy
In the speech 'Asia, trade deficits and the health of the U.S. economy' given on 23 February Richard Fisher of the Federal Reserve Bank of Dallas said the U.S. economy is poised to grow by more than 4 percent at an annual rate in the current quarter…
NY Fed's Geithner on risk management challenges
In the speech 'Risk management challenges in the U.S. financial system' given on 28 February Timothy Geithner of the Federal Reserve Bank of New York said complex securities like derivatives make the global financial system increasingly vulnerable, and…
Fed's Kroszner sworn in
Randall S. Kroszner took the oath of office on Wednesday 1 March as a member of the Board of Governors of the Federal Reserve System.
Comment: Presidential Fed nominations
When George W. Bush announces his nomination to replace departing vice chairman, Roger Ferguson, he will have chosen all seven members of the board of governors at the Fed. In doing so, he will join Ronald Reagan and Franklin Roosevelt as the only…
Chicago Fed National Activity Index, January 06
The Chicago Fed National Activity Index for January 2005, published 23 February, was +0.27, down from +0.37 in December. Three of the four broad categories of indicators that make up the index made positive contributions, while the remaining category…
Bush's Board
George W. Bush is only the third president to appoint all seven members of the Board of Governors, notes this article published Monday. But how does he compare to his predecessors in terms of overall influence on the makeup of Fed leadership?
Fed's Bernanke on the benefits of price stability
In the speech 'The benefits of price stability' given on 24 February Ben Bernanke of the Federal Reserve said the Fed needs to keep inflation low to meet its other mandated goals of high employment and moderate long-term interest rates.
Bernanke says bad idea to manage asset prices
The Federal Reserve has to pay close attention to asset prices because they affect the economy, according to Fed chairman Ben Bernanke, but it is not a good idea for the US central bank to try to affect their prices directly.
US economy can stand Fed 'mistake' says Poole
St Louis Fed president William Poole said on Friday 24 February that the U.S. economy can cope if the Federal Reserve makes a "mistake" and raises interest rates too high.
Fed's loss is Bernanke's gain
According to this article published Thursday 23 February, with Vice-Chairman Roger W. Ferguson Jr., a Democrat, out of the way, the new Federal Reserve chairman can now dominate the inflation debate.
Fed's Warsh sworn in
Kevin Warsh took the oath of office as a member of the Board of Governors of the Federal Reserve System on Friday 24 February.
Bending the yield curve to fit current fashion
This article published on Tuesday 21 February looks at the refusal of long- term interest rates to follow short-term rates higher when the Fed began raising rates in June 2004.
Ferguson on globalization, insurers, & regulators
In the speech 'Globalization, Insurers, and Regulators: Shared Challenges Call for Collaborative Solutions' given on 23 February Roger Ferguson of the Federal Reserve said he did not expect long-term interest rates to rise suddenly, although it was hard…
Comment: Ferguson bids Fed farewell
The vice chairman of the Federal Reserve, Roger Ferguson, will retire in two months time and he will not attend the Fed's next rate-setting meeting on March 27-28. Ferguson's departure underscores the idea of a Fed in flux.
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 October-December 2005, the U.S. monetary authorities did not intervene in the foreign exchange markets during the October -…
Fed can't rule out more rate rises
Minutes from the Federal Reserve's 31 January FOMC meeting released on Tuesday 21 February showed Fed officials felt a 14th straight increase in interest rates last month put borrowing costs near where they needed to be, but they could not rule out more…