United States
What's with Greenspan's hawkish talk?
This article says Alan Greenspan's recent more hawkish comments in testimony to Congress on July 20-21 have a lot to do with whom Greenspan was speaking for and to whom he was speaking. Mainly, his stern words about guarding against inflation reflect his…
Chicago Fed National Activity Index, June 2004
The Chicago Fed National Activity Index was 0.00 in June, a marked decrease from the May reading of +0.75. The production- and employment-related categories of indicators made negative contributions to the overall index in June, but these were offset by…
US growth to top 4% this year-Kansas Fed's Hoenig
The U.S. economy will most likely grow by more than 4 percent in 2004, stimulated by fiscal and monetary policy and the recovering global climate, Kansas City Federal Reserve President Thomas Hoenig said on Monday 26 July.
Santomero on the U.S. economy: Back on course
In a speech 'The U.S. Economy: Back on Course' given on 21 July, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the US economic expansion still has ample momentum and recent signs of softness should be transitory.
Fed's Ferguson on business-cycle recoveries
In a speech on 'A Retrospective on Business-Cycle Recoveries: Are "Jobless" Recoveries the New Norm?' given on 21 July, Roger Ferguson of the Federal Reserve said the slow jobs recoveries that followed the last two U.S. recessions do not suggest a need…
Philadelphia Fed Business Outlook Survey, Jul 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, July 2004, expansion in the region's manufacturing sector continues. This month the manufacturers were asked about increases in wages made to attract or retain workers.
The birth of modern monetary policy
For many years, the Fed has used influence on short-term interest rates to contain inflationary pressure in the US economy and promote growth and employment. The genesis of this approach and its theoretical foundation both lie in the work of Knut…
Fed Reserve Bank of New York - Annual Report 2003
The Federal Reserve Bank of New York has published its Annual Report for the year ended 2003. The US economy has experienced a steady rise in productivity growth, which offers the prospect of an extended period of higher income growth. Against this…
Greenspan notes solid economic growth in US
In closely watched testimony to the Senate Banking Committee on Tuesday 20 July, Fed chairman Alan Greenspan said sharp price increases that may have slowed US consumer spending are "transitory" and "accounted for at least some of the observed softness…
Minehan sees US inflation rise as temporary
Federal Reserve Bank of Boston president Cathy Minehan said on Monday 19 July that disappointing economic data in June was likely to be temporary and the recovery is now self-sustaining.
Measured rate rises appropriate says Fed's Stern
Minneapolis Fed President Gary Stern said on Monday 19 July that the US economy is on track for solid growth and the Federal Reserve still intends to raise interest rates at a moderate pace.
Fed's Bies on risk management
In a speech on 'Using Enterprise-wide Risk Management to Effectively Execute Business Strategies' given on 16 July, Susan Schmidt Bies of the Federal Reserve said credit cards and bank overdraft protection are drawing the attention of regulators because…
Chicago Fed Letter, August 2004
The latest edition of the Chicago Fed Letter for August 2004, titled 'Economy to continue cruising along,' says the outlook for 2004 is for the US economy to have its best growth in seven years, growing at a rate above potential, and leading to a fall in…
Fed's Bies on business financial conditions
In a speech on 'Business financial conditions and relationships with bankers' given on 15 July, Susan Schmidt Bies of the Federal Reserve said the economic expansion is now broad based, and the financial strength of businesses should help provide the…
Book - 'A term at the Fed' by Laurence H. Meyer
In his new book, A Term at the Fed: An Insider's View, Laurence Meyer displays a certain frankness in discussing his performance as a central-bank policymaker from 1996 to 2002, this book review says. He's candid about the mistakes he made and even…
Earlier release of Fed minutes would help market
This article says the Federal Open Market Committee rarely agree over the wording of the statement on the "why" even when they are unanimous about the "what." It suggests the committee should take a step favoured by some members and rejected by the…
Kansas Fed's Economic Review, 2nd Quarter 2004
The Kansas City Fed's Economic Review 2nd Quarter 2004 includes an article "What Impact Will E-Commerce Have on the U.S. Economy?" which examines the economic factors that have contributed to the rapid growth of e-commerce and assesses how the future…
Fed watching prices closely says Santomero
The Federal Reserve is closely watching price increases in various industries, Philadelphia Fed President Anthony Santomero said on US television.
Dallas Fed's McTeer - Inflation rise likely a blip
Increases in US inflation recently may prove to be a blip but the Federal Reserve needs two to three more months of data before it can make this judgment, Dallas Fed president Bob McTeer said on Tuesday 13 July.
Fed's Hoenig sees US inflation staying in 2% range
U.S. inflation should remain contained despite strong growth, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Tuesday 14 July.
House prices likely to grow slowly Fed study shows
House prices in the US are likely to grow at the slowest pace in more than three decades as interest rates climb and land prices take a tumble over the next three years, researchers at the Federal Reserve have estimated in a new study.
Snow says terror threat hangs over US economy
The potential for more terror attacks is a risk to the U.S. economy that requires vigilance against any bid to weaken measures for investigating suspicious money transactions, U.S. Treasury Secretary John Snow said on Tuesday 13 July.
Hoenig sees US inflation staying below 2%
Kansas City Federal Reserve Bank President Thomas Hoenig said in a speech to a business group that he doesn't think inflation will exceed a 2.0 percent rate in the US.
After Greenspan, Who?
Alan Greenspan has just begun another term as chairman of the Federal Reserve, but a number of new hirings suggests a deep pool of potential heirs is being assembled, this article says.