United States
Fed's Greenspan on global demographic change
In a speech on 'Global demographic change' given on 27 August, Alan Greenspan of the Federal Reserve warned that an ageing U.S. population will strain public finances and hurt the economy without swift fixes to the safety net, such as raising the age for…
Minutes of the Federal Open Market Committee
Minutes from the Federal Reserve's 29-30 June FOMC meeting released on 12 August showed that Fed officials had no sense that the U.S. economy had hit a "soft patch" when they met in late June and decided to raise key short-term interest rates for the…
Fed's Gramlich on social security reforms
In a speech on 'Rules for assessing social security reform' given on 12 August, Edward Gramlich of the Federal Reserve said any plans to reform the Social Security retirement program should be self-financed and not rely on general government revenues.
Fed sees stronger pick up in growth
The Federal Open Market Committee decided on Tuesday 10 August to raise its target for the federal funds rate by 25 basis points to 1-1/2 percent. In its press release the FOMC maintained its stance that policy accommodation could be removed at a…
Fed expected to lift US interest rates
The Federal Reserve was expected to raise interest rates on Tuesday 10 August for the second time this year, despite weak US employment growth statistics.
Study says Fed doesn't target stock market
The Federal Reserve doesn't target stock market prices directly when it sets monetary policy, Reuters said quoting a Fed study due out this week.
Federal Reserve announce changes to check services
The Federal Reserve Banks announced on 2 August further changes to increase the efficiency of their check-processing operations. Check processing operations at nine sites will be discontinued and the volumes at these sites shifted to other Federal…
Hoenig on US monetary policy, economic outlook
In a speech on 'Monetary policy and the economic outlook' given on 26 July, Thomas Hoenig of the Federal Reserve Bank of Kansas City said recent U.S. economic performance has been good. Growth has been strong, inflation has been low, and even the labour…
Dallas Fed's McTeer on transparency
In a speech given on 13 July Bob McTeer of the Federal Reserve Bank of Dallas said that Europe seems to be doing better economically, but what it greatly needs are economic reforms - especially labour market reforms-to give them good job growth.
Snow reassures after IMF, World Bank terror threat
US Treasury Secretary John Snow sought to calm nerves on Monday 2 August following newly disclosed terror threats against the U.S. financial institutions including the IMF and World Bank in Washington.
Federal Reserve Board - Beige Book, July 2004
The Federal Reserve released its July 2004 Beige Book survey on 28 July. The report said the US economic expansion is showing some signs of moderating as consumer spending brakes.
Chicago Fed's Moskow on the US economic outlook
In a speech on 'U.S. Economic Outlook' given on 23 July, Michael Moskow of the Federal Reserve Bank of Chicago said the recent increase in U.S. inflation probably isn't enough to force the Federal Reserve to abandon its "measured" approach to interest…
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…