Federal Reserve System
Speech by David Dodge of Bank of Canada, 31 Aug
SPEECH - In the speech titled 'Macroeconomic Stabilization Policy in Canada' Dodge said that clear monetary and fiscal objectives, combined with clear accountability for meeting those objectives, provide the background for policy co-operation and…
Tokyo defends BoJ monetary policy
JAPAN - Bank of Japan deputy governor Yutaka Yamaguchi has taken issue with the US Federal Reserve and academic critics who have argued in recent months that Japan's weak growth and deflation were made worse by erroneous central bank policies. Yamaguchi…
Fed's Bernanke sees U.S. expansion continuing
US - One of the Federal Reserve board's newest governors said this weekend that while the U.S. expansion should keep going, the Fed must be on guard against acute weakness.
Chicago Fed National Activity Index, July 2002
REPORT - CFNAI Reflects Economic Softness. In July, the Chicago Fed National Activity Index (CFNAI) fell below zero after being positive the two previous months. Weakness in the employment-related data accounted for the largest negative contributions to…
Speech by Fed Chairman Alan Greenspan, 30 Aug
SPEECH - In the speech 'Economic volatility' made on Friday at a Federal Reserve Bank of Kansas City symposium Greenspan defended the Fed's decisions on interest rates in the late 1990s, saying policy makers couldn't have deflated the stock-market bubble…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 23 August released the minutes of its regular FOMC meetings from 20 May to 24 June.
Atlanta firm says no sir to a Greenspan knighthood
US - An Atlanta-based public interest law firm is protesting Alan Greenspan's acceptance of an honorary knighthood, reports the Associated Press, saying the Federal Reserve Chairman should seek Congress' approval first.
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the Third Quarter 2002. The U.S. economy is expected to grow in each of the next five quarters, but growth rates will likely be lower than those…
Speech by William Poole, St Louis Fed Bank, 26 Aug
SPEECH - In the speech titled 'Taking Stock: the State of the Business Recovery' Poole said it was unlikely the US economy would slip back into recession, noting that a "double-dip" recession has only occurred once since WW2. He credited strategies by…
Speech by A Santomero of Philadelphia Fed, 21 Aug
SPEECH - In a speech 'Economic Outlook for the U.S. & Berks County' given on Wednesday Santomero said that the Fed's current policy stance was appropriate and that the economic recovery should move forward even though it had been more modest than…
Speech by M Moskow, President, Chicago Fed, 21 Aug
SPEECH - Moskow said in a speech titled 'Economic Outlook' that "the Fed cannot - and should not - try to smooth out every bump," and warned that the path back to the economy's potential growth rate could be rocky. Moskow, who is not a voting member of…
Speech by Robert Parry, San Francisco Fed, 21 Aug
SPEECH - In a speech titled 'The Economic Outlook for the Nation and the Region: A Monetary Policymaker's View' Parry, who is a non-voting member of the Fed's policy committee, said "the Fed's monetary policy stance is quite stimulative right now, and I…
San Francisco Fed's Parry: Rate policy appropriate
US - San Francisco Federal Reserve Bank President Robert Parry said on Wednesday the current level of U.S. interest rates is "appropriate" and stimulative for the economy, which is in a modest expansion.
Philadelphia Fed survey shows factory growth slows
US - U.S. factory growth appears to have stalled, stirring speculation the Federal Reserve may cut interest rates in coming months to ward off a second recession if the weakness spreads.
Federal Reserve Board, Press Release, 20 Aug
PRESS RELEASE - The Federal Reserve Board announced on Tuesday that it will not, over the near term, incorporate two policy options into its longer-term Payments System Risk (PSR) policy plan. The Board will, however, continue to analyze the benefits and…
Philadelphia Fed's Santomero says policy is right
US - Federal Reserve Bank of Philadelphia President Anthony Santomero said on Wednesday that the economic recovery, while more modest than expected, should move forward and that the Fed's current policy stance is appropriate.
Chicago Fed's Moskow sees ongoing U.S. expansion
US - Chicago Federal Reserve President Michael Moskow said Wednesday that he expected the U.S. economy to keep growing, while warning that the path back to its potential growth rate could be rocky.
Fedtalk from the Boston Fed, May 2002
PUBLICATION - Financial Services Update of the Federal Reserve Bank of Boston, May 2002. A newsletter about Boston Fed financial services, Fedtalk offers the latest information on check services and electronic delivery systems. The most recent edition,…
Economic Review from the Atlanta Fed Bank
PUBLICATION - Global Banks, Local Crises: Bad News from Argentina by Marco Del Negro and Stephen Kay, published in the Economic Review, Federal Reserve Bank of Atlanta, Third Quarter 2002, Vol 87, No 3.
Fed's Gramlich starts treatment for cancer
US - Federal Reserve Governor Edward Gramlich will begin out-patient treatment for a form of leukemia next week and medical experts believe his prognosis is good, the Federal Reserve said on Friday in a press release.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on Thursday released the minutes of its regular FOMC meeting held on 25-26 June. Federal Reserve policymakers expressed optimism about the economy's recovery two months ago despite the business scandals that have eroded…
Greenspan keeps his nerve
ARTICLE - More mixed economic data appear to support Alan Greenspan's cautious decision not to cut interest rates any further for the time being, reports the Economist magazine on Friday. But this week the Fed admitted that stockmarket jitters have…
Dollar falls for fourth day in five versus euro
US - The U.S. dollar fell for a fourth day in five against the euro after a Federal Reserve report showed Philadelphia-area manufacturing unexpectedly contracted this month, the latest sign the U.S. economic recovery is slowing.
Some Fed members saw policy as too easy in June
US - In late June, some members of the Federal Reserve's interest-rate panel thought monetary policy was too easy for the central bank's long-term inflation-fighting and growth goals FOMC minutes show.