United States
Fed's Hoenig: statement error a 'doggone mistake'
Kansas City Fed President Thomas Hoenig said on Tuesday 10 May that the omission of a reassurance about the long-term inflation outlook in last week's Federal Reserve policy statement was just a mistake.
Fed's blunder should make Asia green with envy
This article published on Thursday 5 May says no policy maker in Asia can claim to match the Fed's mastery over "open mouth operations". Where many of the Asian central banks go wrong is in thinking they'll get more respect from the market by being…
Chicago Fed's Moskow on bank competition
In a speech given on 5 May Michael Moskow of the Federal Reserve Bank of Chicago said borrowers have benefited from an erosion of banks' traditional information advantages and wider competition in financial services.
Dallas Fed announces change in research function
The President of the Federal Reserve Bank of Dallas, Richard W. Fisher, on Friday 6 May announced a change in the organisation and focus of the bank's Research Department in order to better analyse the effects of globalization on monetary policy.
Fed's Olson: new financial products create risks
A senior Federal Reserve official told the Chicago Fed's bank structure conference on Thursday 5 May that US consumers can more easily tap the value of their homes for cash, which has helped them "smooth their consumption" and helped the economy bounce…
US on track to halve budget deficit says Snow
US Treasury Secretary John Snow on Thursday 6 May said that continued American economic growth and strong tax receipts had kept the U.S. government in view of its stated aim of cutting the budget deficit by 50%.
Fed Reserve Bank of St Louis Review, May/June 2005
The latest edition of the St Louis Fed's Review for May-June 2005 includes the articles "Monetary policy and commodity futures" and "Using implied volatility to measure uncertainty about interest rates".
Greenspan on risk transfer and financial stability
In a speech on 'Risk transfer and financial stability' given on 5 May, Alan Greenspan of the Federal Reserve said the huge mortgage holdings of home finance giants Fannie Mae and Freddie Mac pose risks to the liquidity of the derivatives market where…
Federal Reserve raises rates to 3%
The Federal Open Market Committee decided on Tuesday 3 May to raise its target for the federal funds rate by 25 basis points to 3 per cent. In its statement the FOMC said monetary policy remained "accommodative" and that it expected to continue removing…
Fed expected to raise rates again
Faced with conflicting forces, the Federal Reserve was expected to increase interest rates by a moderate quarter-point at the conclusion of its FOMC meeting on Tuesday, the eighth such increase since last June.
Report says Fed likely to hike rates again
The U.S. Federal Reserve is likely to raise the target for its key short-term interest rate to 3 percent from 2.75 percent when its rate-setting committee meets on Tuesday, The Wall Street Journal said on Friday 29 April.
Kansas Fed's Hoenig praises entrepreneurs
As much as half the economic growth in the United States has come from entrepreneurial ventures, the president and chief executive officer of the Federal Reserve Bank of Kansas City said on Thursday 28 April.
Philadelphia Fed Business Outlook Survey, Apr 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, April 2005, activity in the region's manufacturing sector continues to expand.
Fed Reserve Bank of St Louis Review, Mar/Apr 2005
The latest edition of the St Louis Fed's Review for March-April 2005 includes an article by Allan Meltzer "Origins of the Great Inflation". The Great Inflation from 1965 to 1984 is the climactic monetary event of the last part of the 20th century. The…
Fed's Gramlich on federal /state lending standards
Federal Reserve Governor Edward Gramlich said on Wednesday 27 April that creating federal standards to combat predatory lending will not necessarily lead to a safer system for consumers.
Fed's Roseman on developments in payment systems
In testimony on 'Recent developments in the payments system' given on 20 April, Louise Roseman of the Federal Reserve said the payments system in the United States is continuing to change and become increasingly efficient. However, the shift away from…
Fed's Ferguson on central banking in the US
In a speech on 'The evolution of central banking in the United States' given on 27 April, Roger Ferguson of the Federal Reserve said that central banking practice adapts over time as markets evolve and this had been the Fed's experience and would likely…
Fed's Ferguson on the US current account deficit
In the speech 'U.S. current account deficit: Causes and consequences' given on 20 April, Roger Ferguson of the Federal Reserve said that America's current account deficit does not mean the world economy is doomed because its root is likely the…
Fed's Kohn on imbalances in the US economy
In a speech on 'Imbalances in the US economy' given on 22 April, Donald Kohn of the Federal Reserve said the central bank would likely keep pushing US interest rates up at a "measured pace" to keep inflation under control.
Chicago Fed National Activity Index, Mar 2005
The Chicago Fed National Activity Index for March 2005 was +0.11, down from +0.22 in February. Three of the four broad categories of indicators that comprise the index made positive contributions last month, according to the CFNAI.
Fed's Fisher says tariffs hurt inflation fight
Imposing tariffs on imports to the United States would hurt consumers and hamper attempts to control inflation, the president of the Federal Reserve Bank of Dallas said in a column in The Wall Street Journal on Monday 25 April.
After Greenspan: Ben Bernanke?
Despite strong support from the likes of Alan Blinder, Ben Bernanke is still seen as a dark-horse candidate for chairman of the Federal Reserve, according to this article. While Bernanke's move to the CEA has prompted talk that he is "one step closer" to…
Clarida tipped as new Fed governor
According to several reports this week, the White House is considering former US Treasury official Richard Clarida for the Federal Reserve seat that would be free if Fed Governor Ben Bernanke is confirmed to the CEA.
Fed's Gramlich on growing retirement costs
In the speech 'A first step in dealing with growing retirement costs' given on 21 April, Edward Gramlich of the Federal Reserve said the United States should remove a cap on wages subject to the Social Security payroll tax and raise the retirement age to…