United States
US bank regulators differ on international rules
Roger Ferguson has supported Basel II saying we have no alternative but to adopt the accord as soon as possible. But the rules were described as being too complex and rigid for what is needed at the same hearing by the Comptroller of the Currency John…
New York Fed on Current Issues
RESEARCH - The February 2003 edition of the New York Fed's 'Current Issues in Economics and Finance' contains an article titled 'New York City's Economy before and after September 11'. An analysis of employment and income trends suggests that the…
Greenspan on Aging global population
SPEECH - At a time when demographic factors are strongly affecting economic policy in many countries, Alan Greenspan yesterday told the Senate's Special Committee on Aging that at some point policy-makers will have to face up the fact that as the baby…
US Fed's Ferguson backs new world bank rules
Roger Ferguson said on Thursday that criticism of the Basel II rules have not convinced the Federal Reserve that the agreement should be scrapped.
Greenspan testimony on deposit insurance
SPEECH - In testimony titled 'Deposit insurance' Alan Greenspan of the Federal Reserve reiterated the central bank's opposition to raising the $100,000 limit on deposit insurance coverage, saying there would be no "clear public benefit" to the move.
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the First Quarter 2003. The economy will grow slowly over the first half of the year, according to 37 forecasters surveyed. However, the…
Santomero on corporate governance & responsibility
SPEECH - In the speech 'Corporate Governance & Responsibility' Anthony Santomero of the Federal Reserve Bank of Philadelphia said good corporate governance is critical to the health of the corporate system, our financial system, and our economy. The US…
Bernanke on balance sheets and the recovery
SPEECH - In the speech 'Balance Sheets and the Recovery' Ben Bernanke of the Federal Reserve assessed whether there exist financial constraints that might impede the developing recovery in the U.S. economy. His sense, he said, is that the household and…
Economic Perspectives, First Quarter 2003
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Inflation and monetary policy in the…
Philadelphia Fed Business Outlook Survey, Feb 2003
REPORT - Activity in the region's manufacturing sector was mostly flat, according to firms surveyed for February's Business Outlook Survey. Although one-third of firms reported higher new orders in February, one-fifth reported lower orders, and other…
Origin and Procedures of Central Banking
BOOK - The Federal Reserve Bank of Cleveland's Central Bank Institute has published the introduction to a new book called "Origin and Procedures of Central Banking". The papers in the accompanying volume were first presented at the Institute's first…
The Art of Targeting Inflation
RESEARCH - The Federal Reserve Bank of Cleveland's Central Bank Institute has published the paper "The Art of Inflation Targeting" by Lars Heikensten and Anders Vredin. The paper describes the Riksbank's transition to inflation targeting and explains how…
Ferguson on Rules and Flexible Monetary Policy
SPEECH - In the speech 'Rules and Flexibility in Monetary Policy' Roger Ferguson of the Federal Reserve said over the past twenty-five years some important consensuses have been achieved on the best way to conduct monetary policy. Central banks have…
McDonough on Implementing the New Basel Accord
SPEECH - In the speech 'Implementing the New Basel Accord' William McDonough of the Federal Reserve Bank of New York said the success of the New Accord will be directly attributable to the enormous support and assistance provided by both bankers and…
KC's Fed Reserve Bank joins economic conference
Economists from the Federal Reserve Bank of Kansas City will make presentations at a free conference Thursday in Jefferson City titled "Raising the Economic Speed Limit."
Bies on financial markets and corporate governance
SPEECH - In the speech 'Financial Markets and Corporate Governance in the United States and Other Countries' Susan Bies of the Federal Reserve said as the United States goes forward, even if transparency through corporate financial reports improves,…
Monetary Policy Report to the Congress
REPORT - In the Federal Reserve's report to Congress it reflects on the series of blows the US economy has suffered in the last few years, including the falls in equity values, the terrorist attacks of September 2001, corporate malfeasance and the…
Guynn on the state of the recovery
SPEECH - In the speech 'The State of the Recovery' Jack Guynn of the Federal Reserve Bank of Atlanta said the recovery is real, it's showing up on our radar; we know it's here, it's just not as obvious as it usually is. Guynn thinks the recovery will be…
Greenspan testimony to congress
SPEECH - In testimony to Congress Alan Greenspan said in today's environment acceptable ranges of deficit were 1-2 per cent and it was too early to tell whether the US economy was weak enough to require emergency fiscal stimulus.
U.S. economy facing more than war - Guynn
The U.S. economy is being restrained by more than just the prospect of war, but an expected pickup in business spending should help it strengthen as the year unfolds, Atlanta Federal Reserve Bank President Jack Guynn has said.
Central bank aims to halt slide of Jamaican dollar
The Bank of Jamaica (BOJ) has taken additional steps aimed at halting the slide in the value of the Jamaican dollar against its United States counterpart.
Mark Olson on the Gramm-Leach-Bliley Act
SPEECH - Fed governor Mark Olson looks at the Gramm-Leach-Bliley Act and asks to what extent it contributed to recent corporate misbehaviour - or was it just a coincidence? He encourages the role of the legal community as facilitator of the self…
McDonough on risk mgmt, supervision and Basel II
SPEECH - William McDonough examines how enhancements in banks' risk management processes have led supervisors to move to a more process-oriented, risk-focused approach to supervision, and explains how provisions in the New Basel Accord will support…
Inflation-target sentiment seen growing inside Fed
ARTICLE - This article weighs up Federal Reserve policy-makers current positions on the issue of inflation targeting. The board appears split with governors putting the case for and against a target and Chairman Alan Greenspan coming down on the side of…