Federal Reserve System
Interview with ECB's Bini Smaghi
Speaking recently, Lorenzo Bini Smaghi, member of the Executive Board of the European Central Bank, said that the US Federal Reserve is better than the ECB is "a bit like saying that Alonso is better than Schumacher. It depends on the car. The US economy…
Philadelphia Fed names bank supervision advisor
The Federal Reserve Bank of Philadelphia has named H. Robert Tillman special advisor to the Supervision, Regulation and Credit Department.
Richmond Fed appoints deputy general counsel
The Federal Reserve Bank of Richmond announced on Wednesday 14 December that Patricia A. Lacey Nunley would be appointed to the position of deputy general counsel, with responsibility for the Legal department, effective from 1 Jan.
Philadelphia Fed President to leave next year
Anthony Santomero, president of the Federal Reserve Bank of Philadelphia, announced on Friday 16 December that he will leave his position as president effective 31 March.
Philadelphia Fed Business Outlook Survey, Dec 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, December 2005, activity in the region's manufacturing sector continues to expand.
Fed's Greenspan on free markets
In a speech given on 14 December Alan Greenspan of the Federal Reserve said the rise in global living standards despite fears of violence is a testament to the value of free markets in the world.
Fed raises rates, tweaks statement
The Federal Open Market Committee decided on Tuesday 13 December to raise its target for the federal funds rate by 25 basis points to 4-1/4 percent. In its statement the FOMC removed the term 'policy accommondation' but suggested rates could rise further…
Word junkies get ready for a fix from the Fed
According to this article published on Monday 12 December, while there is little doubt the Fed will raise the funds rate by another 25 basis points to 4.25 percent on Tuesday, the main issue is the language of the statement.
Fed may remove 'accommodation' phrase
The Federal Reserve may say monetary policy is no longer stimulating the economy after it is expected to raise interest rates Tuesday 13 December for the 13th time, according to over half of Wall Street's largest bond trading firms surveyed by Bloomberg.
Fed's Bies on regulatory capital requirements
In the speech 'Linkages between Internal Capital Measures and Regulatory Capital Requirements' given on 6 December Susan Schmidt Bies of the Federal Reserve said Basel II provides a means for regulators to rely more on banks' internal estimates of risks-…
Greenspan saves the world again
Federal Reserve chairman Alan Greenspan attended his final G7 meeting in his official capacity last weekend. He receives various tributes, honours and gifts, including a cartoon depicting him as a goal keeper.
Greenspan says debate, openness must be balanced
Federal Reserve chairman Alan Greenspan said in response to questions from Congress that the FOMC works hard to balance policymakers' need to have private discussions about economic matters and investors' desire for transparency.
Greece's Garganas: ECB won't follow Fed rate rises
The European Central Bank won't follow the US Federal Reserve's practise of continuous interest rate hikes, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Friday 9 December.
Fed's Ferguson on asset price levels & volatility
In the speech 'Asset price levels and volatility: Causes and implications' given on 15 November Roger Ferguson of the Federal Reserve said the reduced volatility seen in overall economic activity since the mid-1980s does not seem to have carried over…
Fed's end to rate increases in 2006
Federal Reserve officials will gather on 13 December and for the 13th meeting in a row will raise interest rates by a quarter-percentage point, this article published Tuesday 6 December says.
Richmond Fed's Economic Quarterly, Fall 2005
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Fall 2005. The latest issue includes the article 'Monetary policy and the term structure of interest rates'.
Fed's Olson on economic growth
In the speech 'Economic growth: Lessons from the Sioux Falls experience' given on 5 December Mark Olson of the Federal Reserve said the Fed can best promote a credit climate that fosters rural progress by maintaining an environment of low inflation.
Fed's Greenspan on international imbalances
In the speech 'International imbalances' given on 2 December Alan Greenspan of the Federal Reserve warned about the urgency for the United States to tackle its huge budget deficits to preserve the global economy's health.
Ferguson on recent changes in household finances
In the speech 'Recent changes in household finances and home lending' given on 18 November Roger Ferguson of the Federal Reserve said U.S. financial regulators should study why blacks tend to get more higher-priced mortgage loans than non-Hispanic whites.
How the Fed should steer the Bernanke transition
According to this article published on Monday 28 November, the minutes of the latest Federal Open Market Committee meeting, released last week, suggest the Federal Reserve is having some difficulty handling the transition to a new chairman.
Fed's Greenspan on budget policy
In the speech 'Budget policy' given on 2 December Alan Greenspan of the Federal Reserve said good short-term prospects for the U.S. economy should not distract from huge looming fiscal strains that pose "significant" economic risks.
Fed's Bies on developments in regulatory capital
In the speech 'Recent developments in regulatory capital' given on 30 November Susan Bies of the Federal Reserve said concerns raised by a US study of the effects of proposed Basel II bank capital standards may have delayed US implementation of the rules…
How should central banks communicate?
This European Central Bank Working Paper published on 25 November shows that central bank communication is a key determinant of the market's ability to anticipate monetary policy decisions and the future path of interest rates.
Change in Fed statement is coming (either way)
According to this article published on Monday 28 November, the part of the Fed's statement on the balance of risks to the Committee's objectives has degenerated, as have all the Fed's formulaic means of conveying an inter-meeting bias or long-term…