Federal Reserve System
Fed's Greenspan on budget process reforms
In testimony on 'Budget process reforms' given on 21 April, Alan Greenspan of the Federal Reserve said huge budget deficits pose a danger to the nation's long-term economic health.
Fed's Bies on the economy and personal finances
In a speech on 'The economy and managing personal finances' given on 18 April, Susan Bies of the Federal Reserve said the US central bank must step up its vigilance against inflation but indicated that she believed "measured" interest-rate rises could…
Fed's Kohn on the economic outlook
In a speech on 'Economic outlook' given on 14 April, Donald Kohn of the Federal Reserve said bond buyers should beware of faster than expected interest rate increases.
St Louis Fed's Regional Economist, April 2005
The Regional Economist, April 2005 edition from the St Louis Fed includes the article "The trickle-down effect of Basel II" which says the new banking accord could make survival for some regional and community banks more difficult. Also included is "So…
Fed's Greenspan on consumer finance
In a speech on 'Consumer finance' given on 8 April, Alan Greenspan of the Federal Reserve said the success of financial services industries in expanding credit availability has significantly helped the U.S. economy.
Fed's Greenspan on energy
In the speech 'Energy' given on 5 April Alan Greenspan of the Federal Reserve said market forces could lead to a big enough increase in crude oil inventories to cool the recent "frenzy" that has sent prices to record highs.
Greenspan warns of risks from mortgage giants
In testimony on Wednesday 6 April Federal Reserve chairman Alan Greenspan called on Congress to curb the rapid growth of Fannie Mae and Freddie Mac, telling Senators this was vital to cut the risks the mortgage finance giants pose to the U.S. financial…
Fed's Bies on the Bank Secrecy Act and Basel II
In the speech 'Home Mortgage Disclosure Act, Bank Secrecy Act, and Capital Issues' given on 31 March Susan Schmidt Bies of the Federal Reserve said U.S. regulators are very sensitive to the competitive implications of having two sets of rules for the…
Fed's Bernanke on implementing monetary policy
In a speech on 'Implementing monetary policy' given on 30 March, Ben Bernanke of the Federal Reserve said it is in the Federal Reserve's best interest to communicate effectively with financial markets.
Chicago Fed National Activity Index, Feb 2005
The Chicago Fed National Activity Index for February 2005 was +0.37, up from +0.13 in January. All four broad categories of indicators that make up the index made positive contributions last month, according to the CFNAI.
Fed's Greenspan on empowering communities
In a speech on 'Empowering communities, attracting development capital, and creating opportunities' given on 18 March, Alan Greenspan of the Federal Reserve said better research is needed to gauge the success of programs that aim to lift communities out…
Philadelphia Fed Business Outlook Survey, Mar 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, March 2005, activity in the region's manufacturing sector continues to expand, but at a slower rate than in February.
St Louis Fed's Central Banker, Spring 2005
The St. Louis Fed's Central Banker magazine for Spring 2005 has been published. The latest edition contains an article which reports that for the first time in history, Americans are favouring electronic payments in greater dollar amounts than checking…
Fed's Bies on Bank Secrecy Act & compliance
In a speech on 'Bank Secrecy Act and capital compliance issues' given on 14 March, Susan Schmidt Bies of the Federal Reserve said US regulators are drafting new guidelines for banks to comply with a law to stop money laundering.
Greenspan on Social Security program & retirement
In testimony on the 'Future of the Social Security program and economics of retirement' given on 15 March Alan Greenspan of the Federal Reserve issued a fresh call to Congress to move promptly to put Social Security on firm financial footing, warning…
Richmond Fed's Economic Quarterly, Winter 2005
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Winter 2005. The paper "Inflation and changing expenditure shares" measures the contribution of changing expenditure shares to inflation behavior by constructing alternative…
Fed's Bernanke on the global saving glut
In a speech on 'The global saving glut and the U.S. current account deficit' given on 10 March, Ben Bernanke of the Federal Reserve said a global savings glut has pushed up the U.S. current account gap and pushed down long-term interest rates.
Fed's Greenspan on globalization
In a speech on 'Globalization' given on 10 March, Alan Greenspan of the Federal Reserve said that future budget deficits pose a bigger risk to the economy than record trade imbalances and the country's extremely low savings rate.
NY Fed's Economic Policy Review prize article
The Editorial Board of the New York Fed's Economic Policy Review has announced the first winner of the Frederic S. Mishkin Prize for Outstanding Paper: "Treasury inflation-indexed debt: A review of the U.S. experience," by Brian Sack and Robert Elsasser.
Fed's Greenspan on bank regulation
In a speech on 'Bank regulation' given on 11 March, Alan Greenspan of the Federal Reserve acknowledged that a new global pact on banking may hurt some business lines at small U.S. banks, but said regulators may look at tweaking capital rules to ease this.
Federal Reserve Board - Beige Book, March 2005
The Federal Reserve published its March 2005 Beige Book survey on Wednesday 9 March. The report said steady consumer spending and continued factory output boosted the US economy in February.
Fed's Bernanke on the economic outlook
In the speech 'The economic outlook' given on 8 March Ben Bernanke of the Federal Reserve said the US economy was off to a solid start this year and that core inflation should stay in a zone that allows the Fed to raise interest rates at a "measured"…
Fed's Olson on loan quality and the economy
In a speech on 'Loan quality and how it reflects the overall economy' given on 28 February, Mark Olson of the Federal Reserve said economic growth is steady while inflation remains under control.
Fed's Gramlich on raising national saving
In a speech on 'The importance of raising national saving' given on 2 March, Edward Gramlich of the Federal Reserve said the United States would seem well-advised to minimize risks by raising its own national saving to finance its own investment.