United States
Poole on the Fed's Role in Community Development
SPEECH - In the speech 'The Fed's Role in Community Development' made on 23 October, William Poole of the Federal Reserve Bank of St. Louis said in March 2003, the Federal Reserve System's Community Affairs offices will sponsor its third academic…
Bies-Fed monitoring commercial real estate, credit
US - The U.S. Federal Reserve is monitoring rapidly growing vacancy rates in commercial real estate and a surge in consumer credit, Fed Gov. Susan Bies said on Thursday.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to lower its target for the federal funds rate by 50 basis points to 1 1/4 percent. In a related action, the Board of Governors approved a 50 basis point reduction in the discount rate to 3…
Fed shocks with half point but signals easing over
US - The U.S. Federal Reserve on Wednesday slashed interest rates by a sharp half percentage point to new four-decade lows to try to reignite the recovery, but signalled it planned no more cuts any time soon.
SEC chairman Harvey Pitt resigns
US - US Securities and Exchange Commission Chairman Harvey Pitt resigned under pressure Tuesday night after a series of political missteps that embarrassed the Bush White House just when it needed to shore up investors unnerved by accounting scandals.
Following the Fed
ARTICLE - The Federal Reserve has its foot over the gas pedal. An attempt today to speed up the US economy seems almost certain; rarely does the Fed send signals to the financial markets that it is about to cut interest rates, only to disappoint. Whether…
Dislodging the Fed Fantasy
ARTICLE - One of the absurd ideas that took hold in the late 1990s was that the Federal Reserve, presided over by the almost-infallible Alan Greenspan, had essentially conquered the business cycle.
Gary Stern on economic literacy
SPEECH - In the speech 'Economic Literacy Leads to Better Grasp of Public Policy Issues' made on 24 October, Gary Stern of the Federal Reserve Bank of Minneapolis said it doesn't hurt to remind ourselves and others that economics has a lot to say about…
The Fed should cut next week
ARTICLE - The US economy is growing around trend, unemployment is at its lowest post-recession peak for decades, the housing market is firing on all cylinders - and the financial markets are expecting the Federal Reserve to cut interest rates to a 40…
Monetary Council of ECCB meets in Anguilla
ST KITTS - Member countries of the Eastern Caribbean Central Bank (ECCB) have recommitted themselves to maintaining the value of the exchange rate at 2.70 EC Eastern Caribbean dollars to the United States dollar.
Chicago Fed National Activity Index September 2002
REPORT - CFNAI Indicates Economic Growth Remained Slow in September - The Chicago Fed National Activity Index (CFNAI) remained below zero for a second month in September, coming in at -0.35 in September, up from -0.45 in August.
Moskow on the Economy and Free Trade
SPEECH - In the speech 'The Economy and Free Trade' made on 29 October, Michael Moskow of the Federal Reserve Bank of Chicago said during the last 20 years or so, we've deregulated financial markets, developed more flexible labor markets and made major…
Philadelphia Fed Business Outlook Survey
REPORT - Activity in the region's manufacturing sector weakened this month, according to firms surveyed for the October Business Outlook Survey. Indicators for general activity, new orders, and shipments declined from their readings in September. Overall…
Santomero on Process & Progress in Risk Management
SPEECH - In the speech 'Process & Progress in Risk Management' made on 28 October, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the financial sector has come a long way in its risk management efforts. Basel II offers an unusual…
IMF report on the Policies of the Euro Area
REPORT - International Monetary Fund Staff Report on the Monetary and Exchange Rate Policies of the Euro Area. The report includes sections on movements towards greater central bank transparency, predictability of central bank interest rate decisions,…
Fed Chairman Alan Greenspan on education
SPEECH - In the speech 'Education' made on 29 October, Alan Greenspan of the Federal Reserve said empirical economic research has identified a complex set of factors as key determinants of how successful any country will be in transforming its physical…
IMF wants euro 'big 3' to tighten fiscal policy
US - The International Monetary Fund has weighed into the debate over the eurozone's stability and growth pact (SGP), arguing that the big three countries - Germany, France and Italy - should heed its message and make a concerted effort to tighten fiscal…
Fed's Ferguson on productivity growth
SPEECH - In the speech 'Productivity Growth: A Realistic Assessment' made on 24 October, Roger Ferguson of the Federal Reserve said although no one can see the future, he feels cautiously optimistic that the U.S. economy can continue to enjoy strong…
IMF News Brief
NEWS BRIEF - IMF Managing Director Kohler Congratulates Brazil's President-Elect, 28 October.
IMF Press Briefing
PRESS BRIEFING - Press Briefing by Thomas Dawson, Director, External Relations Department, International Monetary Fund, Washington, D.C., 24 October 2002.
Michel Camdessus responds to Joseph Stiglitz
COMMENTARY - A Commentary by Michel Camdessus, Honorary Governor of the Bank of France, 24 October.
The Fed's Mark Olson on Urban Revitalization
SPEECH - In the speech 'Urban Revitalization: Shared Responsibilities' made on 22 October, Mark Olson of the Federal Reserve Board said that the history of community development policy and finance has been characterized as difficult, but it provides…
Alan Greenspan on productivity
SPEECH - In the speech 'Productivity' made on 23 October, Alan Greenspan of the Federal Reserve said given the difficult adjustments that the US economy has been undergoing, long-term productivity optimism may currently seem a bit out of place. But, he…
Federal Reserve Board - Beige Book, October 2002
REPORT - The Federal Reserve Beige Book released 23 October showed that the US economy is struggling to get out of the sluggishness which has now infected retail sales. The report shows the housing market to be the one bright spot in an otherwise weak…