Federal Reserve System
Roger Ferguson resigns from Fed Board
In a surprise move, Roger Ferguson, Jr. submitted his resignationon Wednesday 22 February as Vice Chairman and as a member of the Board of Governors of the Federal Reserve System, effective April 28, 2006.
Philadelphia Fed Business Outlook Survey, Feb 2006
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2006, the pace of activity in the region's manufacturing sector picked up in February. The general activity index improved notably this month, and indicators for…
St Louis Fed's Central Banker, Spring 2006
The St. Louis Fed has published the Spring 2006 edition of its Central Banker magazine. The article "Greenspan's unconventional view of the long-run inflation/output tradeoff" says that the former Fed chairman's views on the relationship between…
Fed's Pianalto says growth, stability go together
Cleveland Fed president Sandra Pianalto said Thursday 16 February that the Federal Reserve's twin objectives of price stability and growth go hand in hand.
Bernanke: Greenspan speeches don't violate ethics
Fed chairman Ben Bernanke said his predecessor, Alan Greenspan, has not violated any central bank or federal government ethics rules as a result of his recent series of private speeches since leaving his post on 1 February
Fed chief rules out mandate change
Ben Bernanke said he doesn't want Congress to change the Federal Reserve's mandate that it pay attention to both price stability and maximum employment or economic growth.
Reflections on central banking
How has central banking changed in the past generation? Alan Greenspan gave his considered views at Jackson Hole in August 2005.
Lacker on transition and continuity at the Fed
In the speech 'Transition and continuity at the Federal Reserve in 2006' given on 14 February Jeffrey Lacker of the Federal Reserve Bank of Richmond said that incoming Fed Chairman Ben Bernanke must preserve the hard-won credibility for maintaining low…
Bernanke says more rate rises 'may' be necessary
Ben Bernanke told Congress on Wednesday 15 February that more US rate hikes "may" be necessary as the threat of higher inflation persists despite a year-and-a-half of steady tightening.
Comment: Bernanke's debut
New Fed chairman, Ben Bernanke, provided little further insight into the likely further path of interest rates in the US on Wednesday. On the whole he painted a fairly rosy picture of the economy's health - both in a cyclical and structural sense. His…
Alan Greenspan in memoir talks
According to Reuters, Alan Greenspan is in talks with major publishers about writing a memoir and bidding has already hit $5 million.
Fed announces Michelle Smith to stay on
The Federal Reserve Board on Friday announced that Michelle A. Smith will continue in her position as Assistant to the Board and Director of the Office of Board Members. The Board had previously announced that she would be leaving to work for former…
'Greatest central banker ever' comes down a peg
This article published on Thursday 9 February looks at recent comments by ex Fed chief Alan Greenspan. It was his comments on the likely future course of interest rates that will tarnish his legacy as ``the greatest central banker who ever lived,'' it…
Warsh's Fed nomination draws criticism, confusion
President Bush's nomination of the 35-year-old White House aide Kevin Warsh for a seat on the Federal Reserve's board has been greeted with criticism and bewilderment by some former Fed officials and economists, according to this article published on…
Comment: Bernanke gets more time
The new Fed chairman, Ben Bernanke, will have an extra day to listen to different opinions and pore over the latest data on the American economy at his first FOMC meeting. Yesterday's news that the March 28 meeting will be expanded could increase…
Fed's Fischer on global growth dynamics
In this speech given at the Institute of Economic Affairs in London on February 6, 2006, the president of the Dallas Fed, Richard W. Fisher, suggests that the United States will remain the growth engine for the global economy for some time to come.
Bernanke's remarks at swearing-in ceremony
Ben Bernanke made some brief remarks after being sworn in as chairman of the US Federal Reserve by president, George W Bush, on February 6, 2002.
Bies on continuous challenges of risk management
In the speech 'The continuous challenges of risk management' given on 2 February Susan Schmidt Bies of the Federal Reserve said regulators are concerned about heavy commercial real estate exposures and risky mortgage lending practices at U.S. banks.
Rato at the farewell dinner for Alan Greenspan
In remarks at the farewell dinner for Alan Greenspan on 24 January (published 2 Feb) IMF Managing Director Rodrigo de Rato said there are many reasons to envy Alan: not just his economic savvy and ability to move financial markets with a few well-chosen…
New Fed chair has passion for equations
This article published on Thursday 2 February takes an in-depth look at Ben Bernanke. The new Fed chief, it says, wants to strip away some of the mystery of the Fed and come out with an inflation range to aim for over the medium or long term.
Greenspan goes out with final jab at inflation
The Federal Reserve's decision to increase interest rates again left open the possibility of another increase next month in a smooth handoff of the Fed policy baton from Greenspan to Ben Bernanke, this article published on Wednesday 1 February says.
Bernanke inherits an experienced Fed staff
Alan Greenspan's legacy includes a Fed full of battle-tested veterans who helped him calm the markets and steer the U.S. economy through September 11, the 1987 stock market crash, the international currency crises of the 1990s and two recessions,…
Ben Bernanke sworn in as Fed chairman
Ben Bernanke on Wednesday 1 February became the fourteenth Chairman of the Board of Governors of the Federal Reserve System and the Chairman of the Federal Open Market Committee, succeeding Alan Greenspan.
Comment: Bernanke's options kept open
Subtle changes in the wording of the Fed's latest monetary policy statement leaves new chairman, Ben Bernanke, with more wiggle-room than may have been expected. Markets will become very sensitive to incoming data and will look to Bernanke's Capitol Hill…