Federal Reserve System
Fed may be on road to neutral monetary policy
The Federal Open Market Committee will make the 13th consecutive rate increase at its next meeting on 13 December, as it continues on its way to the so-called neutral level, according to this article published on Wednesday 2 November.
Fed Reserve Bank of St Louis Review, Nov/Dec 2005
The latest edition of the St Louis Fed's Review for Nov/Dec 2005 includes the article "An analysis of recent studies of the effect of foreign exchange intervention" which surveys recent empirical studies of the effect of foreign exchange intervention and…
Fed's Greenspan on the economic outlook
In testimony 'Economic outlook' given on 3 November Alan Greenspan of the Federal Reserve said the U.S. economy has good momentum, but cautioned that the prospects for keeping inflation under control were more problematic.
Comment: Greenspan's parting shot
Alan Greenspan yesterday delivered his final Congressional testimony. Apart from an unsurprising, cautiously optimistic message on the short-run prospects for the U.S. economy, his parting shot came in the form of a stern warning to Congress that it…
The myth of the all-powerful Fed
Despite the outsized attention that any utterance from the Fed chair typically gets, the economic world isn't controlled by one person, or even one institution, this article published on Tuesday 1 November notes.
Fed raises rates, maintains 'measured' pace
The Federal Open Market Committee decided on Tuesday 1 November to raise its target for the federal funds rate by 25 basis points to 4 percent. In its statement the FOMC kept its 'measured' stance for removing policy accommodation and warned that energy…
Chairman nominee may bring new openness to the Fed
If Ben Bernanke has his way, the Federal Reserve is likely to become more open, according to this article published on Tuesday 1 November. His approach could lead to big changes in how the Fed communicates, it says.
Alan Greenspan gives Ben Bernanke some pointers
This article published on Monday 31 October carries a supposed conversation between Alan Greenspan and Ben Bernanke. It says that, according to press reports, Greenspan wanted Donald Kohn to head the Federal Reserve instead of Bernanke.
Bernanke's models, and their limits
This article published on Sunday 30 October asks what Ben Bernanke's academic work can tell us about the sort of Fed chairman he will make. He has written repeatedly about ways of using dauntingly complex mathematical models of the economy to set…
Bernanke steps into Greenspan's shoes
Although Ben Bernanke was nominated as Fed chairman this week, he has shown in the past that he isn't a fan of the conservative dress code favoured by central bankers. Bernanke surprised George W Bush by wearing a pair of tan socks with a dark suit to a…
Central bankers welcome Fed nominee
Following Ben Bernanke's nomination to succeed Alan Greenspan as chairman of the Federal Reserve, central bankers were out in force this week to welcome the move.
Interview with Ben Bernanke
In an interview published on Tuesday 25 October, but conducted before his nomination to the Fed, Ben Bernanke said that there was so far little reason to fear that the sharp rise in energy prices would feed through into wider inflation.
Greenspan at the Dallas Fed Branch dedication
In a speech given on 27 October Alan Greenspan of the Federal Reserve said while Mike Kelley served on the Board, he was keenly interested in a wide range of issues that spanned the gamut of what the Federal Reserve does.
Greenspan on the Council of Economic Advisers
In a speech given on 26 October Alan Greenspan of the Federal Reserve praised the advice provided to presidents by the Council of Economic Advisers.
Chicago Fed National Activity Index, September 05
The Chicago Fed National Activity Index for September 2005 was -0.71 down from -0.09 in August. Two of the four broad categories of indicators that make up the index - production and employment - made negative contributions.
Missing ingredient in BOK
According to this article published on Wednesday 26 October, although the Bank of Korea's interest rate policy is supposed to be as powerful as the Fed's, few still believe that the BOK operates its monetary policy independently from the government.
Ben Bernanke has a lot going for him to make it
According to this article published on Tuesday 25 October, Ben Bernanke will have a lot going for him if he becomes, as expected, the next chairman of the Federal Reserve. He is among the most knowledgeable economists in the world about monetary policy…
How can Bernanke succeed Greenspan?
This article published on Tuesday 25 October asks how can Ben Bernanke succeed a man described by President Bush as the most dominant central banker in history?
Bernanke doesn't see inflation picking up
U.S. inflation pressures are likely to remain within the energy sector, and fiscal and monetary policy remains accommodative, Federal Reserve chairman nominee Ben Bernanke said in a newspaper interview published on Tuesday 25 October.
Philadelphia Fed Business Outlook Survey, Oct 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, October 2005, the pace of activity in the region's manufacturing sector picked up in October.
Rato says US rates should rise, ECB hold
The US Federal Reserve should increase interest rates gradually but the European Central Bank should keep its rate on hold for now, the International Monetary Fund chief Rodrigo Rato said in an interview.
Yellen says Fed should not target asset bubbles
San Francisco Fed President Janet Yellen said on Friday 21 October that the Federal Reserve's interest rate policy should not target asset bubbles such as the U.S. housing market.
Bernanke nominated to replace 'legend' Greenspan
US President George W. Bush on Monday 24 October nominated White House economic adviser Ben Bernanke to succeed Alan Greenspan as chairman of the Federal Reserve.
Greenspan: global giant but awkward legacy
According to this article published on Tuesday 18 October, the Fed's sway over world markets was arguably at its peak in 1998. Before both the launch of the euro and the massive reserve accumulation in Asia that has bestowed China and others with…