United States
The U.S. current account and the dollar
The dollar has further to fall, according to a recent paper by Professors Blanchard, Giavazzi and Sa of MIT, and an end to the Chinese peg might - contrary to conventional thinking - be bad for Europe, they argue.
St Louis Fed's Central Banker, Spring 2005
The St. Louis Fed's Central Banker magazine for Spring 2005 has been published. The latest edition contains an article which reports that for the first time in history, Americans are favouring electronic payments in greater dollar amounts than checking…
Yellen on US economy and the banking sector
In the speech 'Thoughts on the economy and the banking sector' given on 14 March, Janet Yellen of the San Francisco Fed said that regulators are worried that some banks are not well-positioned for "alternative scenarios" on movement of the yield curve or…
Fed's Bies on Bank Secrecy Act & compliance
In a speech on 'Bank Secrecy Act and capital compliance issues' given on 14 March, Susan Schmidt Bies of the Federal Reserve said US regulators are drafting new guidelines for banks to comply with a law to stop money laundering.
SF Fed's Yellen on prospects for the U.S. economy
In a speech on 'Prospects for the U.S. economy' given on 2 March, Janet Yellen of the San Francisco Fed said the US economy is on a path toward healthy economic growth and stable inflation but interest rates remain accommodative.
Greenspan on Social Security program & retirement
In testimony on the 'Future of the Social Security program and economics of retirement' given on 15 March Alan Greenspan of the Federal Reserve issued a fresh call to Congress to move promptly to put Social Security on firm financial footing, warning…
Richmond Fed's Economic Quarterly, Winter 2005
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Winter 2005. The paper "Inflation and changing expenditure shares" measures the contribution of changing expenditure shares to inflation behavior by constructing alternative…
Phil Fed's Santomero on post-Greenspan era
In an interview published this week, Anthony Santomero of the Philadelphia Fed told Handelsblatt he does not fear any trouble in the financial markets when Alan Greenspan leaves office at the beginning of 2006. "It is understandable that the markets ask …
Richmond Fed names new Director of Research
John A. Weinberg was named director of research and senior vice president of the Federal Reserve Bank of Richmond on Thursday 10 March.
Fed's Bernanke on the global saving glut
In a speech on 'The global saving glut and the U.S. current account deficit' given on 10 March, Ben Bernanke of the Federal Reserve said a global savings glut has pushed up the U.S. current account gap and pushed down long-term interest rates.
Fed's Greenspan on globalization
In a speech on 'Globalization' given on 10 March, Alan Greenspan of the Federal Reserve said that future budget deficits pose a bigger risk to the economy than record trade imbalances and the country's extremely low savings rate.
NY Fed's Economic Policy Review prize article
The Editorial Board of the New York Fed's Economic Policy Review has announced the first winner of the Frederic S. Mishkin Prize for Outstanding Paper: "Treasury inflation-indexed debt: A review of the U.S. experience," by Brian Sack and Robert Elsasser.
Fed's Greenspan on bank regulation
In a speech on 'Bank regulation' given on 11 March, Alan Greenspan of the Federal Reserve acknowledged that a new global pact on banking may hurt some business lines at small U.S. banks, but said regulators may look at tweaking capital rules to ease this.
Federal Reserve Board - Beige Book, March 2005
The Federal Reserve published its March 2005 Beige Book survey on Wednesday 9 March. The report said steady consumer spending and continued factory output boosted the US economy in February.
Federal Reserve Bulletin, Winter 2005
The Federal Reserve's Bulletin for Winter 2005 includes the article 'Indexes of the foreign exchange value of the dollar' which discusses several practical aspects of the design and implementation of the Federal Reserve Board's exchange rate indexes -…
US's Snow puzzled by criticism of Greenspan
US Treasury Secretary John Snow said on Monday 7 March that he was puzzled by harsh words used to describe Federal Reserve Chairman Alan Greenspan over his support for the Bush administration's proposals to overhaul Social Security.
Chicago Fed's Moskow on small businesses
In a speech on 'Access to capital for women- and minority-owned businesses' given on 4 March, Michael Moskow of the Federal Reserve Bank of Chicago said small businesses play a critical role in the U.S. economy and the Federal Reserve has an interest in…
Fed's Olson on loan quality and the economy
In a speech on 'Loan quality and how it reflects the overall economy' given on 28 February, Mark Olson of the Federal Reserve said economic growth is steady while inflation remains under control.
IMF's Rato on correcting global imbalances
In a speech on 'Correcting global imbalances - Avoiding the blame game' given on 23 February, Rodrigo de Rato of the IMF said a current account deficit the size of the US's 'cannot be sustained indefinitely'.
St Louis Fed's Poole on pension systems
In a speech on 'Demographic challenges to state pension systems around the world' given on 24 February, William Poole of the Federal Reserve Bank of St. Louis said the United States must make "hard choices" if it is to fix its Social Security retirement…
Fed's Gramlich on raising national saving
In a speech on 'The importance of raising national saving' given on 2 March, Edward Gramlich of the Federal Reserve said the United States would seem well-advised to minimize risks by raising its own national saving to finance its own investment.
Fed study shows dollar fall could boost growth
A study by the Federal Reserve says a substantial fall in the value of the US dollar is likely to boost economic growth rather than cause an economic crisis.
Ex-Fed's Wyss says Asia should diversify reserves
Asian central banks need to diversify their foreign reserves but in doing so, they should allow the local currencies to appreciate against the dollar, a former US presidential economic adviser and Federal Reserve governor said on Thursday 3 March.
Phil Fed's Santomero: lessons from business cycle
In a speech on 'Lessons learned from the recent business cycle' given on 1 March, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the US economy is on track for moderate sustainable growth with relatively stable prices, but declining…