Federal Reserve System
Fed's Olson on state of the US economy
Federal Reserve Governor Mark Olson spoke on Monday 15 November about the state of the US economy, and issued a warning to expect more rate rises as the economy recovers.
Fed's Bies on financial supervision issues
In a speech on 'Financial supervision issues' given on 5 November, Susan Schmidt Bies of the Federal Reserve said the US government budget has become a "cookie jar" for lawmakers over the past four years, with taxpayer funds spent in some cases for …
Fed Reserve Bank of St Louis Review, Nov/Dec 2004
The latest edition of the St Louis Fed's Review for November-December 2004 includes the article "Monetary policy and asset prices: A look back at past U.S. stock market booms" which examines the economic environments in which past U.S. stock market booms…
Fed's Ferguson on business investment
In a speech on 'Factors influencing business investment' given on 26 October, Roger Ferguson of the Federal Reserve said US businesses are discarding their earlier caution and investing more in capital goods and structures.
The pursuit of financial stability – an outside view
A two-part survey of central banks’ work in financial stability – the first article offers a critical assessment, the second an overview of current policy-oriented research. By Robert Pringle.
News Analysis: Key insight embodied in new technology
Following the news that this year’s winners of the Nobel prize for economics are Finn Kydland and Edward Prescott, Paul Brione spoke with Edward Prescott, who currently works at the Federal Reserve Bank of Minneapolis. Here is his report on their…
Fed's Ferguson on equilibrium real interest rate
In a speech on 'Equilibrium real interest rate: Theory and application' given on 29 October, Roger Ferguson of the Federal Reserve said that policymakers cannot rely on a formula to decide the proper level for U.S. interest rates, but must always judge…
Fed's Bernanke on oil and the economy
In a speech on 'Oil and the economy' given on 21 October, Ben Bernanke of the Federal Reserve said soaring oil prices now represent a "significant shock" to the US economy but the longer-term impact should be manageable.
Philadelphia Fed Business Outlook Survey, Oct 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, October 2004, activity in the region's manufacturing sector continued to improve. In this months survey the participants were asked about their plans and expectations for…
Fed's Bies on the Federal Reserve and the economy
In a speech on 'The Federal Reserve System and the economy' given on 23 October, Susan Schmidt Bies of the Federal Reserve said the Fed will keep an eye on how much surging oil costs affect consumer prices but said she expects underlying inflation to…
Fed's Bies on financial institution supervision
In a speech on 'Enterprise perspectives in financial institution supervision' given on 21 October, Susan Schmidt Bies of the Federal Reserve said mortgage market giants Fannie Mae and Freddie Mac were taking on interest-rate risk as a way to grow…
Greenspan on US mortgage market and consumer debt
In a speech on 'The mortgage market and consumer debt' given on 19 October, Alan Greenspan of the Federal Reserve said conceded there were concerns about "the exceptional run-up in home prices" but said Americans were handling their debts well.
Fed's Ferguson on good policy practice
In a speech on 'Safeguarding good policy practice through maintaining flexibility' given on 8 October, Roger Ferguson of the Federal Reserve said he is opposed to the idea of adopting an explicit inflation target as it could limit the ability of the Fed…
Fed's Kohn on low-probability, high-impact events
In a speech 'How should policymakers deal with low-probability, high-impact events?' given at the ECB's Conference on Monetary Policy and Imperfect Knowledge on 15 October, Donald Kohn of the Federal Reserve said central banks with credibility for…
Greenspan not worried over oil price
In a speech titled 'Oil' given on 15 October Fed chairman Alan Greenspan said the current surge in energy prices is likely to have far less of an impact on the economy than the oil shocks of the 1970s.
Fed's Bernanke says floating exchange rates best
In a speech to the Cato Institute 22nd Annual Monetary Conference on Thursday 14 October Ben Bernanke said that the best course is generally to let exchange rates float freely and to make low and stable inflation a principal focus of monetary policy,…
St Louis Fed's Regional Economist, October 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, October 2004 edition from the St Louis Fed includes the article "U.S. Stays Out of the Way of Entrepreneurs" which says for those starting a business in this country,…
Ferguson on free trade: What do economists know?
In a speech on 'Free Trade: What Do Economists Really Know?' given on 7 October, Roger Ferguson of the Federal Reserve said he sees the current account deficit as a risk if it ends in a wrenching adjustment that strains Americans and spills over to other…
Fed's Bernanke: What have we learned since 1979?
In the speech 'Panel discussion: What Have We Learned Since October 1979?' given on 8 October, Ben Bernanke of the Federal Reserve said by doing what was necessary to achieve price stability, the Volcker Fed laid the groundwork for two decades, so far,…
Fed's Bernanke on cb talk and monetary policy
In a speech on 'Central Bank Talk and Monetary Policy' given on 7 October, Ben Bernanke of the Federal Reserve said the Federal Reserve should take additional steps to be more transparent because monetary policy is more effective when the Fed gives the…
Fed's Greenspan on monetary policy after Oct 1979
In a speech on 'Monetary policy twenty-five years after October 1979' given on 7 October, Federal Reserve chairman Alan Greenspan praised former central bank chief Paul Volcker's "decisive action" against rising prices at a landmark meeting of the…
Growth impact from oil 'modest' says Fed's Hoenig
Record oil prices will only have a moderate impact on U.S. growth which looks set for a solid performance over the next 18 months, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Wednesday 6 October .
Resolving large financial intermediaries: Update
In this updated article, the authors examine issues surrounding the possible failure of Fannie Mae or Freddie Mac. Finding parallels between resolving insolvent large banks and insolvent housing enterprises, the authors suggest improvements to the…