Federal Reserve System
What Drives Productivity Growth?
Kevin J. Stiroh considers the debate on the best way to explain the sources of productivity growth in a forthcoming Economic Policy Review for the Federal Reserve Bank of New York.
US welfare reform: progress and prospects
Following a conference at the Federal Reserve Bank of New York October 2000 "Welfare reform, four years later: progress and propects", preliminary drafts of papers are now available from the Federal Reserve Bank of New York Research and Market Analysis…
Fed's liquidity date change efforts
The Fed's efforts to provide liquidity around the century date change likely had a stabilizing effect on the financing markets.
Fed policy shift stirs debate on economic policy
The Federal Reserve's warning on Tuesday that the economy was rapidly losing steam stirs the pot in a simmering debate between the Clinton administration and President-elect George W. Bush's team about whether a new prescription for growth is needed.
Fed unlikely to cut rates - Washington Post
Faced with slowing economic growth and an uncertain short-term economic outlook, a number of Federal Reserve officials have concluded that the risk of serious weakness in the economy is as great as the risk that inflation will get worse, the Washington…
Interview with Nancy Stokey - The Region
Nancy Stokey and her University of Chicago colleague and partner, Nobel Laureate Robert E. Lucas Jr., chose to spend a semester's sabbatical at the Minneapolis Fed this autumn. Arthur Rolnick, the Minneapolis Fed's director of Research, took this…
When Genius Failed: The Rise and Fall of LTCM
This new book by Roger Lowenstein about Long-Term Capital Management suggests that the lenders were clueless as to the nature of the LTCM's assets and strategies and equally ignorant as to LTCM's total indebtedness. Rather, the banks relied on the brand…
Back From The Brink: The Greenspan Years
Journalist Steven Beckner, who has covered monetary policy since the beginning of the Greenspan years, has written a useful book that goes beyond the regular elliptical utterances of the Fed chairman. Reviewed by Kevin L. Kliesen, Economist, Federal…
Economists agree-Bush should befriend Greenspan
This article by Jacob M. Schlesinger from the Wall Street Journal says that the new US president, George W Bush, should learn to cultivating the US Federal Reserve chairman Alan Greenspan.
What the BoE can learn from the Federal Reserve
In a "Letter to the Editor" in the Financial Times, Blair Baker says what the Bank of England can learn from the Federal Reserve, following Don Kohn's report on the problems with the BoE inflation forecast.
Fed likely to pass buck on predatory lending
An article published in the American Banker journal says that consumer groups hoping for the Federal Reserve Board to start cracking down on predatory lenders may be sorely disappointed when the central bank takes up the issue Wednesday.
US Senate gives 11% raise for Greenspan
The Senate passed a bill that gives Federal Reserve chairman Alan Greenspan an 11% raise and puts the long-held tradition of the central bank chief's twice-yearly Capitol Hill testimony in writing. The bill, passed by voice vote, now goes to President…
Fed's Kelley warns of excessive US slowing risk
US Federal Reserve governor Edward Kelley said on Friday the central bank was closely watching the risks of an excessive slowdown as the world's top economy moves to a less inflation-prone rate of expansion.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
Greenspan talk lifts markets - John Berry
Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…
Fed's Ferguson says US economy risks balanced
The risks to the US economy are evenly balanced between the dangers of an excessive slowdown and an inflationary overheating, Federal Reserve Vice Chairman Roger Ferguson said on Wednesday.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Fed Parry says economy growing at sustainable pace
Federal Reserve Bank of San Francisco President Robert Parry said on Tuesday that the US economy had shifted into a more sustainable growth range in recent months and that employment growth had moderated.
Broaddus says US economic outlook extremely cloudy
A Federal Reserve policymaker said Monday the US economic outlook is growing increasingly murky but he said he remains confident the economy will avoid a recession or an inflation outbreak the coming months.
Fed helps Bank with rate study
The Bank of England, the UK central bank, has commissioned an investigation by a senior official of the US Federal Reserve to assess the way it sets interest rates, says an article in today's Financial Times.
US Fed needs to improve communication-Fed's Poole
The Federal Reserve needs to improve its communication skills so that financial markets can better understand what US central bankers are thinking, St Louis Fed President William Poole said on Thursday.
Fed offers rule to find predatory subprime lenders
The US Federal Reserve Board proposed a rule Wednesday that could help the government identify predatory lenders.
Fed's Poole says preemptive Fed action crucial
St. Louis Federal Reserve President William Poole said on Tuesday the US central bank should monitor underlying causes of inflation such as money supply growth to help prevent price pressures from flaring up.