Federal Reserve System
Greenspan sees vigorous growth, warns on deficit
In testimony on Wednesday 11 February, Fed Chairman Alan Greenspan said the U.S. economy has good odds for sustained robust growth, but that policy-makers can be patient about interest-rate rises. He warned there could be problems "in the relatively near…
Fed's changes to payments system risk statement
The Federal Reserve Board on Thursday 5 February announced that, beginning in July 2006, it will require Reserve Banks to release interest and redemption payments on securities issued by government-sponsored enterprises and international organizations.
Bies on enterprise-wide compliance programs
In a speech on 'Enterprise-wide Compliance Programs' given on 4 February, Susan Schmidt Bies of the Federal Reserve warned that it is too soon to assume corporate scandals and profit restatements were a thing of the past in U.S. and global business…
Chicago Fed National Activity Index, December 2003
The Chicago Fed National Activity Index (CFNAI) December 2003 was published on 29 January. The December CFNAI was +0.13 in December, the fourth consecutive positive monthly reading.
Greenspan on economic flexibility
In a speech on 'Economic flexibility' given on 26 January, Alan Greenspan of the Federal Reserve warned U.S. policy-makers worried about the loss of jobs not to heed calls for an increase in protectionist trade barriers, saying such a move could be …
Philadelphia Fed Business Outlook Survey, Jan 2004
The recent improvement in the region's manufacturing sector continued into the new year, according to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, January 2004.
Fed's McTeer : if growth continues jobs will come
Robert McTeer, president of the Federal Reserve Bank of Dallas, said on Thursday e15 January that mployment growth has been disappointing but should rebound as long as the economy keeps growing at a healthy pace.
No inflation threat in US- Fed's Hoenig
President Thomas Hoenig of the Kansas City Fed spoke optimistically on Thursday 15 January about U.S. economic growth this year and said inflation would be kept under control by the slack in the labour market.
Federal Reserve Board - Beige Book, January 2004
The Federal Reserve released its January 2004 survey of Current Economic Conditions, known as the Beige Book, on 14 January. The survey suggested the rebound in the U.S. economy is gaining momentum, fuelled by last-minute holiday shopping in December.
Federal Reserve Board launches Fiscal Impact Tool
The Federal Reserve Board on Monday 12 January announced the launch of a new informational resource designed to help community economic developers evaluate development proposals.
Greenspan on globalization
In a speech on 'Globalization' given on 13 January, Alan Greenspan of the Federal Reserve renewed a warning that "creeping protectionism" could hurt the flexibility of the global economy, something that has played an important role in helping the United…
Fed's Ferguson on the Economic Outlook
In the a speech on the 'Economic Outlook' Roger Ferguson of the Federal Reserve said the macroeconomic fundamentals seem to be in place for an increase in the pace of economic growth.
Fed's Gramlich on rental housing challenges
In remarks on preserving and improving affordable rental housing, Edward Gramlich of the Federal Reserve said that there is no shortage of questions to be asked about rental housing, where significant challenges lie ahead.
Kohn on the United States in the world economy
Fed Governor Donald Kohn said on Wednesday 7 January that China would need more flexibility in its yuan currency "at some point", but acknowledged China faced complex problems.
St Louis Fed's Regional Economist, January 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, January edition from the St Louis Fed includes the article "Another jobless recovery" which asks whether the U.S. economy is undergoing fundamental changes.
Bernanke says current US money stance appropriate
In the speech 'Monetary Policy and the Economic Outlook: 2004' given on 4 January Ben Bernanke of the Federal Reserve said that the Fed is right to keep interest rates at the current45-year lows.
Greenspan on risk and uncertainty in mon policy
In a speech on "Risk and Uncertainty in Monetary Policy" Alan Greenspan described monetary policy is an "especially humbling" activity. He also defended his tenure as Fed chief.
Bernanke on central bank communication 'Fedspeak'
In a speech on 'Fedspeak' given on 3 January, Ben Bernanke of the Federal Reserve said the Fed could improve the US economy's performance by finding ways to make its objectives and thinking clearer.
Fed's Ferguson on lessons from productivity booms
In a speech on 'Lessons from Past Productivity Booms' given on 4 January, Roger Ferguson of the Federal Reserve said that there are signs that the impetus behind much of the recent robust gains in U.S. productivity will remain for some years.
Greenspan congratulated for good year's work
Alan Greenspan, chairman of the Federal Reserve and his colleagues havebeen praised for their work in 2003 by private economists in a survey.
Big cutback at New York Fed
The New York Fed's Buffalo regional office has announced that it will cut 60 of its 130 jobs in a nationwide restructuring of its retail securities business, officials said on Thursday 18 December.
Chicago Fed National Activity Index, November 2003
The Chicago Fed National Activity Index (CFNAI) November 2003 was published on 18 December. The November CFNAI points to solid gains in economic activity and reached its highest value since March 2000 at +0.55. Three of the four broad categories of…
Philadelphia Fed Business Outlook Survey, Dec 2003
Activity in the region's manufacturing sector continued to expand, according to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, December 2003. Noteworthy increases were recorded for key indicators shipments, new orders, and…
Philadelphia Fed index rises dramatically
The Philadelphia Fed's general economic index this month registered 32.1 compared with 25.9 in November. It represents the highest level in a decade with more factories hiring workers than at any time since April 1973, the report said.