United States
Richmond Fed's Lacker gives economic outlook
Next year will likely see "a continuation of growth along a quite similar trajectory," said Jeffrey Lacker, president of the Richmond Fed, in a speech on Monday 20 December. Economic recovery from the recession of 2001 finally put down "firm roots" in…
FOMC Minutes, 10 November
Minutes from the Federal Reserve's 10 November FOMC meeting released on 16 December revealed that policy makers wrestled with the best way to foreshadow the course of short-term interest rates.
White House may pick Bernanke for advisers' panel
The White House is considering appointing Federal Reserve Board member Ben S. Bernanke to be chairman of the president's Council of Economic Advisers, officials confirmed on Thursday 16 December according to the Washington Post.
Greenspan will not replace Snow at US Treasury
Reports this week said Alan Greenspan will not be the one to head the US Treasury after John Snow leaves. An approach to the Fed chairman was made at arm's length but has been declined by senior Republicans.
Deficit cuts vital for U.S. economy says Snow
US Treasury Secretary John Snow said on Wednesday 15 December that cutting the twin deficits, blamed for weakening the dollar, would be a top priority in president Bush's second term.
St Louis Fed's Central Banker, Winter 2004
The Winter 2004 edition of the St. Louis Fed's Central Banker magazine has been published. In the Feditorial, St. Louis Fed President Bill Poole announces several interactive features that facilitate debates and discussions on issues important to its…
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia has published its Fourth Quarter 2004 Survey of Professional Forecasters. Growth over the next five quarters looks slower now than it did three months ago, according to 34 forecasters surveyed by the Federal…
Fed's Poole on maintaining financial stability
In a speech on 'Maintaining financial stability: A central banker's perspective' given on 27 November, William Poole of the Federal Reserve Bank of St. Louis said central banks should not respond to every wiggle from inflation as they seek steady prices…
Fed raises rates, says economic outlook unchanged
The Federal Open Market Committee decided on Tuesday 14 December to raise its target for the federal funds rate by 25 basis points to 2-1/4 percent. In its press release the FOMC signalled there had been no change in its assessment of current economic…
Moskow: Perspective of the Federal Reserve on HOPI
In the speech 'Perspective of the Federal Reserve on HOPI' given on 7 December Michael Moskow of the Federal Reserve Bank of Chicago said the Home Ownership Preservation Initiative has been an ambitious, and so far very successful, effort under the…
Fed likely to raise rates a quarter-point
Federal Reserve policy-makers were widely expected to raise target for the federal funds rate to 2.25 percent from 2 percent on Tuesday, their last regularly scheduled session of 2004.
Dallas Fed FOMC vote may go to Atlanta
The Dallas Federal Reserve said on Friday 10 December that the Atlanta Fed would temporarily take its vote next year on the US central bank's interest rate setting committee until it finds a replacement for departed President Robert McTeer.
New York Fed names new director of research
Joseph S. Tracy was named executive vice president and director of research of the Federal Reserve Bank of New York on Monday 6 December.
Philadelphia Fed announces promotion
The Federal Reserve Bank of Philadelphia announced the promotion of John D. Ackley to Treasury Services Officer on Wednesday. Ackley was a manager in the Treasury Services Department.
'The Region' from the Minneapolis Fed, Dec 2004
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for December 2004. In "The private and public risks of banking" Gary Stern warns that banking policy continues to shift too much risk taking onto the public. The…
Fed report: Banks and lenders can solicit business
The Federal Reserve said in a report published on Wednesday 8 December that consumers would suffer and pay higher prices if Congress curtailed the ability of banks and lenders to send them solicitations.
Fed's Bies on factors in risk management
In the speech 'It's not just about the models: Recognizing the importance of qualitative factors in an effective risk-management process' given on 7 December, Susan Bies of the Federal Reserve said mathematical investment models are not enough on their…
Philadelphia Fed's Santomero on global economy
In a speech on 'Challenges and opportunities in a global economy: Perspectives on outsourcing, exchange rates, and free trade' given on 3 December. Anthony Santomero of the Federal Reserve Bank of Philadelphia said the US economy should grow about 4 per…
Fed says electronic payments exceed check payments
Surveys conducted by the Federal Reserve confirm that electronic payment transactions in the United States have exceeded check payments for the first time, the Financial Services Policy Committee said on Monday 6 December.
Boston Fed's Minehan on November job report
The president of the Federal Reserve Bank of Boston told a conference on globalisation on Friday 3 December that the November unemployment report was "somewhat disappointing".
Interview with San Francisco Fed's Yellen
In an interview published this week, president of the Federal Reserve Bank of San Francisco Janet Yellen says in her spare time she enjoys running, and has run a few half-marathons. She describes her time at the White House as exciting and interesting…
The man who shaped the Federal Reserve
A new biography, "Chairman of the Fed: William McChesney Martin Jr. and the Creation of the Modern Federal Reserve System tells Martin's story as Fed chairman from 1951, when over the next 19 years, it says, he employed a combination of diplomacy,…
Fed's Bernanke on the logic of monetary policy
In a speech on 'The logic of monetary policy' given on 2 December, Ben Bernanke of the Federal Reserve said that official short-term interest rates are not an accurate gauge of how much stimulus or restraint policy-makers intend because most decisions…
Federal Reserve Board - Beige Book, December 2004
The Federal Reserve has published its December 2004 Beige Book survey. The report finds that the US economy kept expanding from mid-October to mid-November, picking up speed in several regions of the country.