Federal Reserve System
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.
Fed ready to cut rates if necessary - McDonough
US - A top United States Federal Reserve official has offered an assurance that the central bank stands ready to lower interest rates if the economy faltered, but said it was unlikely such help would be needed.
Speech by Susan Schmidt Bies of the Fed, 28 Sep
SPEECH - In the speech titled 'Bank Performance and Corporate Governance' Bies said that following sound accounting, auditing, and disclosure practices consistently is crucial to maintaining the confidence of capital and financial markets. We should…
Philadelphia Fed Business Outlook Survey
REPORT - Results from August's Business Outlook Survey show for the first time this year, manufacturing firms' responses from the Business Outlook Survey indicate a slight decrease in activity. Indicators of general activity, new orders, and shipments…
Chicago Fed National Activity Index, August 2002
REPORT - CFNAI indicates economy slowed in August - In August, the Chicago Fed National Activity Index (CFNAI) fell to its lowest level since December 2001, largely as a result of weakness in the production- and employment-related data. The CFNAI fell to…
Fed's McTeer: Faster economic growth 'essential'
US - Federal Reserve Bank of Dallas President Robert McTeer, who pushed unsuccessfully for lower interest rates at a Fed policy meeting last week, said on Monday it was essential for the U.S. economy to grow faster.
Chicago Fed national activity index drops in Aug
US - The Federal Reserve Bank of Chicago said on Monday its National Activity Index fell in August to its lowest level since December 2001, dragged down by weakness in production and employment data.
NY Fed's McDonough says Brazil should be fine
US - New York Federal Reserve President William McDonough said on Monday that the crisis of confidence in Brazil would likely turn out all right.
Monetary Hawks and Doves
ARTICLE - In an article from the Ludwig von Mises Institute Mark Thornton, a senior fellow of the Mises Institute, suggests that differences occur in the propensity for Fed governors to be given the tag of either dove or hawk on their FOMC voting habits…
Testimony of Fed V Chairman Roger Ferguson, 25 Sep
SPEECH - In his testimony titled 'The proposed Check Clearing for the 21st Century Act' Ferguson said that although an increasing number of payments are being made electronically, it was clear that checks will continue to play an important role in the US…
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'World Finance and Risk Management' Greenspan said a proper dispersement of risk will allow shocks to the overall economic system to be better absorbed and less likely to create cascading failures that could threaten…
Minutes indicate fed concern about stocks
US - Federal Reserve policy makers believe that a decline in the stock market could be the catalyst for another rate cut, according to the minutes of the 13 August meeting of the Federal Open Market Committee.
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'Regulation, Innovation, and Wealth Creation' Greenspan said transparency may present a paradox. On the one hand markets function best when the participants are fully informed. But the full disclosure of what some…
Queen Elizabeth Knights Fed Chairman Greenspan
SCOTLAND - U.S. Federal Reserve Chairman Alan Greenspan received an honorary knighthood from Queen Elizabeth II on Thursday and said he would always cherish the honour.