United States
Fed's Ferguson on good policy practice
In a speech on 'Safeguarding good policy practice through maintaining flexibility' given on 8 October, Roger Ferguson of the Federal Reserve said he is opposed to the idea of adopting an explicit inflation target as it could limit the ability of the Fed…
Fed debates policy for post-Greenspan era
This article reports that battle lines are drawn at the Federal Reserve between those who favour formal inflation goals and those who don't, with the debate heating up ahead of Alan Greenspan's retirement. It cites Roger Ferguson and Ben Bernanke at the…
Fed's Santomero on changes in US payments
In a speech on 'The Changing Pattern of Payments in the United States' given on 16 October, Anthony Santomero of the Federal Reserve Bank of Philadelphia discusses the current status of the U.S. payments infrastructure, how the roots and evolution of the…
US rates 'still simulative' says Fed's Santomero
Philadelphia Federal Reserve President Anthony Santomero said on Saturday 16 October that US interest rates remain simulative but as the expansion continues they should return to "more normal levels".
McTeer set to leave Dallas Fed
Dallas Federal Reserve President Robert McTeer, the U.S. central bank's resident poet and "lonesome dove" on inflation, is likely to leave if he wins the chancellor's position for the Texas A&M University System.
Fed's Kohn on low-probability, high-impact events
In a speech 'How should policymakers deal with low-probability, high-impact events?' given at the ECB's Conference on Monetary Policy and Imperfect Knowledge on 15 October, Donald Kohn of the Federal Reserve said central banks with credibility for…
Fed's Geithner on global payments challenges
In a speech on 'Challenges facing the global payments system' given on 14 October, Timothy Geithner of the Federal Reserve Bank of New York told the SIBOS 2004 Atlanta Conference more needs to be done by financial institutions to reduce the threat of…
Fed's Bernanke says floating exchange rates best
In a speech to the Cato Institute 22nd Annual Monetary Conference on Thursday 14 October Ben Bernanke said that the best course is generally to let exchange rates float freely and to make low and stable inflation a principal focus of monetary policy,…
St Louis Fed's Poole on FOMC transparency
In a speech on 'FOMC transparency' given on 6 October, William Poole of the Federal Reserve Bank of St. Louis said that statements from the Fed were not "iron clad" and it is important the market not interpret this statement as a commitment.
St Louis Fed's Regional Economist, October 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, October 2004 edition from the St Louis Fed includes the article "U.S. Stays Out of the Way of Entrepreneurs" which says for those starting a business in this country,…
Fed's Poole on population and social security
In a speech on 'World population trends and challenges' given on 4 October, William Poole of the Federal Reserve Bank of St. Louis said raising the age at which Americans can collect full Social Security benefits may be the best way to protect the long…
Fed's Bernanke to address Cato conference
Federal Reserve board member Ben Bernanke and Kristin J. Forbes, member of the US president's Council of Economic Advisers, are part of a long list of distinguished guests scheduled to participate in the Cato Institute's forthcoming 22nd annual monetary…
Ferguson on free trade: What do economists know?
In a speech on 'Free Trade: What Do Economists Really Know?' given on 7 October, Roger Ferguson of the Federal Reserve said he sees the current account deficit as a risk if it ends in a wrenching adjustment that strains Americans and spills over to other…
Fed's Bernanke: What have we learned since 1979?
In the speech 'Panel discussion: What Have We Learned Since October 1979?' given on 8 October, Ben Bernanke of the Federal Reserve said by doing what was necessary to achieve price stability, the Volcker Fed laid the groundwork for two decades, so far,…
Fed's Stern says data won't change Fed tack
Minneapolis Federal Reserve President Gary Stern said on Friday 8 October in an interview that the weaker than expected gains in the labour market are not enough to change the Fed's plan to gradually raise interest rates.
Fed's Bernanke on cb talk and monetary policy
In a speech on 'Central Bank Talk and Monetary Policy' given on 7 October, Ben Bernanke of the Federal Reserve said the Federal Reserve should take additional steps to be more transparent because monetary policy is more effective when the Fed gives the…
Fed's Greenspan on monetary policy after Oct 1979
In a speech on 'Monetary policy twenty-five years after October 1979' given on 7 October, Federal Reserve chairman Alan Greenspan praised former central bank chief Paul Volcker's "decisive action" against rising prices at a landmark meeting of the…
Fed could pause on weak data says McTeer
Dallas Fed President Robert McTeer said on Thursday 7 October that the Federal Reserve's decisions to raise short-term interest rates will depend on incoming economic data for the US.
Growth impact from oil 'modest' says Fed's Hoenig
Record oil prices will only have a moderate impact on U.S. growth which looks set for a solid performance over the next 18 months, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Wednesday 6 October .
Resolving large financial intermediaries: Update
In this updated article, the authors examine issues surrounding the possible failure of Fannie Mae or Freddie Mac. Finding parallels between resolving insolvent large banks and insolvent housing enterprises, the authors suggest improvements to the…
Philadelphia Fed Business Review, 3rd Quarter 2004
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Third Quarter 2004. In this issue President Santomero talks about 'Banking in the 21st Century'. There is also an article 'Managing the Recovery in Uncertain Times…
Fed's Ferguson on the personal saving rate
In a speech on 'Questions and reflections on the personal saving rate' given on 6 October, Roger Ferguson of the Federal Reserve said the large US current account deficit brings with it risks that a sharp adjustment in overseas demand for US assets could…
Fed's 'measured pace' may be faster or slower
Federal Reserve Bank of St. Louis President William Poole said on Wednesday 6 October that statements from the central bank were not "ironclad" undertakings of future action and objectives change as the economy evolves.
Cleveland Fed chief sees sustainable expansion
Cleveland Federal Reserve President Sandra Pianalto told a business conference on Thursday 7 October that the U.S. economy appears to be in a self-sustaining expansion, with both inflation and inflation expectations low.