Federal Reserve System
Fed's Gramlich on Oil shocks and monetary policy
In the speech 'Oil shocks and monetary policy' given on 16 September Edward Gramlich of the Federal Reserve said the current spike in oil prices is unlikely to deter the Federal Reserve from continuing to raise interest rates.
Fed's Olson: Protecting financial infrastructure
In testimony 'Protecting the financial infrastructure' given on 8 September Mark Olson of the Federal Reserve said that as a result of careful planning and considerable investment by both the private and public sectors, the financial sector is one of the…
St Louis Fed's Central Banker, Fall 2004
The Fall 2004 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue includes articles "Federal Reserve To Close More Check Processing Sites" and "Federal Reserve Takes a Lead Role in Supporting Check 21" which…
Greenspan says US economy regaining some traction
In testimony to the U.S. House of Representatives on Wednesday 8 September, Federal Reserve Chairman Alan Greenspan said the economy has "regained some traction" following a late spring slowdown that was instigated by a sharp rise in oil prices.
Regulatory agencies warn on internet 'phishing'
The Federal bank, thrift and credit union agencies on Wednesday 8 September announced the publication of a brochure with information to help consumers identify and combat a new type of Internet scam known as "phishing."
Chicago Fed National Activity Index, July 2004
The Chicago Fed National Activity index rose to +0.35 in July from a downward-revised reading of -0.19 the previous month. Most of the increase in July's CFNAI resulted from a big swing in the contribution from production-related indicators, from -0.25…
Fed Reserve Bank of St Louis Review, Sep/Oct 2004
The latest edition of the St Louis Fed's Review for September-October 2004 includes the articles "Trends in the efficiency of Federal Reserve check processing operations" and "Testing the expectations hypothesis: Some new evidence for Japan" and …
Philadelphia Fed Business Outlook Survey, Aug 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, August 2004, activity in the manufacturing sector continues to expand, but the pace of growth is slower than last month. However, participants' optimism for general…
Fed's Greenspan on global demographic change
In a speech on 'Global demographic change' given on 27 August, Alan Greenspan of the Federal Reserve warned that an ageing U.S. population will strain public finances and hurt the economy without swift fixes to the safety net, such as raising the age for…
Fed's Gramlich on social security reforms
In a speech on 'Rules for assessing social security reform' given on 12 August, Edward Gramlich of the Federal Reserve said any plans to reform the Social Security retirement program should be self-financed and not rely on general government revenues.
Chicago Fed National Activity Index, June 2004
The Chicago Fed National Activity Index was 0.00 in June, a marked decrease from the May reading of +0.75. The production- and employment-related categories of indicators made negative contributions to the overall index in June, but these were offset by…
Fed's Ferguson on business-cycle recoveries
In a speech on 'A Retrospective on Business-Cycle Recoveries: Are "Jobless" Recoveries the New Norm?' given on 21 July, Roger Ferguson of the Federal Reserve said the slow jobs recoveries that followed the last two U.S. recessions do not suggest a need…
Philadelphia Fed Business Outlook Survey, Jul 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, July 2004, expansion in the region's manufacturing sector continues. This month the manufacturers were asked about increases in wages made to attract or retain workers.
The birth of modern monetary policy
For many years, the Fed has used influence on short-term interest rates to contain inflationary pressure in the US economy and promote growth and employment. The genesis of this approach and its theoretical foundation both lie in the work of Knut…
Greenspan notes solid economic growth in US
In closely watched testimony to the Senate Banking Committee on Tuesday 20 July, Fed chairman Alan Greenspan said sharp price increases that may have slowed US consumer spending are "transitory" and "accounted for at least some of the observed softness…
Minehan sees US inflation rise as temporary
Federal Reserve Bank of Boston president Cathy Minehan said on Monday 19 July that disappointing economic data in June was likely to be temporary and the recovery is now self-sustaining.
Fed's Bies on risk management
In a speech on 'Using Enterprise-wide Risk Management to Effectively Execute Business Strategies' given on 16 July, Susan Schmidt Bies of the Federal Reserve said credit cards and bank overdraft protection are drawing the attention of regulators because…
Chicago Fed Letter, August 2004
The latest edition of the Chicago Fed Letter for August 2004, titled 'Economy to continue cruising along,' says the outlook for 2004 is for the US economy to have its best growth in seven years, growing at a rate above potential, and leading to a fall in…
Fed's Bies on business financial conditions
In a speech on 'Business financial conditions and relationships with bankers' given on 15 July, Susan Schmidt Bies of the Federal Reserve said the economic expansion is now broad based, and the financial strength of businesses should help provide the…
Kansas Fed's Economic Review, 2nd Quarter 2004
The Kansas City Fed's Economic Review 2nd Quarter 2004 includes an article "What Impact Will E-Commerce Have on the U.S. Economy?" which examines the economic factors that have contributed to the rapid growth of e-commerce and assesses how the future…
Fed's Roger Ferguson on productivity:
In a speech on 'Productivity: Past, Present, and Future' given on 7 July, Roger Ferguson of the Federal Reserve said the recent increase in U.S. inflation should not be sustained but the Fed is ready to act if that view proves wrong.
St Louis Fed's Regional Economist, July 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, July 2004 edition from the St Louis Fed includes the article "Fannie, Freddie and the FHLB". These government-sponsored enterprises continue to make headlines because of…
'The Region' from the Minneapolis Fed, June 2004
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for June 2004. The issue includes 'Prospects for economic expansion' in which Gary Stern speaks on the concepts of resilience, flexibility and productivity. In …
Fed Reserve Bank of St Louis Review, Jul/Aug 2004
The latest edition of the St Louis Fed's Review for July-August 2004 contains proceedings of the Twenty-Eighth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis and includes articles "Is inflation targeting best-practice monetary…