Federal Reserve System
US interest rate level not a problem - Fed's Guynn
US - Atlanta Federal Reserve Bank President Jack Guynn said on Tuesday U.S. interest rate levels were not hindering business or consumer spending, suggesting he sees little need for lower rates.
Fed 'lacks knowledge and tools' to burst bubbles
US - The Federal Reserve lacks the knowledge, foresight or precision tools it would need to pre-empt a stock market bubble, a senior Fed official said yesterday, and any attempt to do so would risk "severe collateral damage to the economy".
Philadelphia Fed Business Review, 3rd Quarter 2002
REPORT - The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Third Quarter 2002. How does a decentralized central bank work? The events of September 11 put the Federal Reserve System, the central bank of the United…
Parry on the economic outlook for the nation
SPEECH - Parry gave a speech titled 'The Economic Outlook for the Nation and the Region: A Monetary Policymakers View' and said his basic view is that we're now in the midst of an expansion that's both modest and uneven.
The Region from the Minneapolis Fed September 2002
PUBLICATION - The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for September 2002. Included in this issue the Nobel prize-winning economist Robert Solow discusses his groundbreaking theory of economic growth, his…
Speech by Susan Schmidt Bies of the Fed, 1 Oct
SPEECH - In the speech titled 'The Challenge for Corporate Governance Posed by Financial Innovation' Bies said unfolding concerns in recent months have thrust the quality of accounting, auditing, and disclosure practices of major U.S. companies into the…
Speech by J Alfred Broaddus, Richmond Fed, 2 Oct
SPEECH - Broaddus said in the speech titled 'Some Thoughts on the Economy in a Challenging Period' that by all appearances the current mood for both consumers and business people is pretty pessimistic and geopolitical risks have increased uncertainty…
Speech by Roger Ferguson, Federal Reserve, 9 Oct
SPEECH - Ferguson gave a speech 'Central Banks and Markets' on receiving the 2002 Distinguished Public Service Award from the Bond Market Association. In the speech he discussed the hot topic of whether central banks have a role in the control of asset…
Speech by Susan Schmidt Bies of the Fed, 8 Oct
SPEECH - In the speech titled 'Corporate Governance and Risk Management' Bies said firms of all sizes should continue to pursue strategies to manage risk. Following sound risk management, governance, and disclosure practices consistently is also crucial…
SARB Monetary Policy Review - October 2002
REPORT - The South African Reserve Bank has published its October Monetary Policy Review. The report reflects on increased inflationary pressures in the South African economy following the depreceiation of the rand in the latter half of 2001.
Speech by Fed Chairman Alan Greenspan, 7 Oct
SPEECH - In a speech on 'The continued strength of the U.S. banking system' Greenspan explores the apparent incongruity between this and the recent substantial losses on corporate credits. He sums up on a cautious but positive note: 'Success, indeed…
Speech by M Moskow, President, Chicago Fed, 3 Oct
SPEECH - Moskow said in a speech on 'The Economy and Expanded Trade' that the last 20 years has brought deregulated financial markets, developed more flexible labor markets and made major advances in technology for the U.S. economy. Moskow concluded that…
US banks 'quite healthy' - Fed's Greenspan
US - Consumers and home owners helped the US banking system absorb bad business loans and remain 'quite healthy,' Federal Reserve chairman Alan Greenspan said.
Chicago Fed Letter, November 2002
PUBLICATION - The November 2002 issue of the Chicago Fed Letter is titled 'A regional perspective on the U.S. business cycle'. It is not difficult to come up with a definition of the business cycle that most of us would understand. A thornier issue is…
Federal Reserve Bulletin - October 2002
REPORT - Article by Brian M. Doyle and Jon Faust titled 'An Investigation of Co-movements among the Growth Rates of the G-7 Countries'.
Speech by Roger Ferguson, Federal Reserve, 3 Oct
SPEECH - In a speech titled 'Business Continuity after September 11' Ferguson looks at business-continuity challenges and discusses a related white paper that US regulators have recently published for public consultation. He also highlights the…
Speech by Gary Stern, Minneapolis Fed Bank, 19 May
SPEECH - In the speech titled 'Reflections on Business, Government and Reputation' Stern said "recent leaders of the Federal Reserve, namely Paul Volcker and Alan Greenspan, are I think widely and deservedly perceived as men of unquestioned integrity and…
Speech by Yutaka Yamaguchi, Bank of Japan, 30 Aug
SPEECH - In the speech titled 'Monetary Policy in a Changing Economic Environment' and published on 1 October by the Bank of Japan, Yamaguchi said that the Bank of Japan's experience showed that price stability, by making low interest rate possible, can…
Central Banker, Fall 2002
REPORT - The Fall 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on why some changes in the retail payment market may be causing confusion for consumers and looks at the St Louis Fed's new…
Speech by Gary Stern, Minneapolis Fed Bank, 25 Apr
SPEECH - In the speech titled 'The (Uncertain) Resilience of the U.S. Economy' Stern said that two of the Minneapolis Fed's economists reviewed a variety of inflation forecasting models and found that Phillips curve type NAIRU models did no better at…
Speech by W. McDonough, New York Fed Bank, 18 Sep
SPEECH - In the speech titled 'Completing the Journey to the New Basel Accord' McDonough said that motivating all banks to improve their management of risk, and thereby strengthen the stability of the banking system, is one of the principal objectives…
Philadelphia Fed Business Outlook Survey
REPORT - Results from September's Business Outlook Survey show that activity in the region's manufacturing sector has improved modestly, according to firms surveyed for this month's Business Outlook Survey. Most of the survey's broad indicators of…
Chicago Fed Letter, October 2002
PUBLICATION - The October 2002 issue of the Chicago Fed Letter is titled 'Solving the problem of small change' - In the last hundred years, monetary systems have evolved from commodity-based, meaning their value is tied to a commodity like gold, to fiat…
Japan and US: Bubble, Bubble, Toil and Trouble
ARTICLE - With the American economy still sputtering and the Federal Reserve divided over whether to cut interest rates again, foreboding comparisons between the United States and Japan are gaining a renewed currency.