United States
Fed's Ferguson on regulatory capital
In a speech on 'The Proposed U.S. Approach to Regulatory Capital: An Update' given on 13 November, Roger Ferguson of the Federal Reserve said he considers the recent decisions reached by the Basel Committee to be a very good example of how supportable…
Broaddus of Richmond Fed announces plan to retire
J. Alfred Broaddus, Jr., president of the Federal Reserve Bank of Richmond, announced on Thursday 13 November that he plans to retire on August 1, 2004, according to Associated Press. He turns 65 next July. 'It has been a great privilege to serve the…
Metcalfe named chair of St. Louis Fed's Board
The Federal Reserve Bank of St Louis has named Walter Metcalfe Jr. as chairman of its Board of Governors, with effect from 1 January 2004, reports the St Louis Business Journal. Gayle Jackson has been named deputy chair.
Ben Bernanke takes oath of office for new Fed term
Ben Bernanke took the oath of office last Friday, 14 November, for a new term on the Federal Reserve's Board of Governors. The ceremony was conducted by Chairman Alan Greenspan in his office and was witnessed by Bernanke's wife and children.
Moskow on communicating U.S. monetary policy
In a speech on 'Formulating and Communicating U.S. Monetary Policy' given on 13 November, Michael Moskow of the Federal Reserve Bank of Chicago said despite all of our econometric models and equations, monetary policy is still more of an art than a…
Foreign central banks buy more U.S. debt - Fed
Holdings of US Treasuries by foreign central banks rose further above the $1.0 trillion level reaching a new record high in the latest week, according to a Reuters report. The Federal Reserve said on on Thursday 13 November that foreign central banks…
Fed's Santomero says rates can't stay low forever
Philadelphia Fed President Anthony Santomero said on Friday 14 November that although interest rates cannot stay at their current low rates in the indefinitely, there is no pressure for a rise in the near future, according to a report by Reuters…
Fed's Ferguson on Basel II updates
In a speech on 'The Proposed U.S. Approach to Regulatory Capital: An Update', given on 13 November Roger Ferguson of the Federal Reserve said we do not expect to slacken the high standards expected of banks operating under the advanced approaches for…
US bank regulators assess impact of Basel accord
Speaking on Thursday 13 November, Fed Vice Chairman Roger Ferguson said U.S. regulators are gathering data on whether the complex new Basel II rules will disadvantage institutions that lend to small businesses, home buyers or consumers according to a…
Chicago Fed's Moskow: Rates to stay low
Michael Moskow said on Thursday 13 November, according to Reuters, that the Federal Reserve plans to keep interest low for a considerable period of time. The Chicago Fed President, who is a voting member of the FOMC, told a panel discussion "All of the…
Snow says US economy on a 'rising road'
US Treasury Secretary John Snow has said that the US economy is on a rising road and is getting stronger every day. In a speech to the Arizona Chamber of Commerce, reported by AFP, Snow said that based on the data, "We can all be encouraged, but we…
Moskow: No reason to change accommodative stance
Michael Moskow, the Chicago Fed president, said on Monday US jobs growth was encouraging and it was important to continue the relaxed monetary stance the FOMC currently holds, to provide some "insurance" against an unwelcome bout of disinflation, Reuters…
Dallas Fed McTeer says US payrolls jump good news
In response to audience questions after a speech given on Monday 10 November Dallas Fed chief Robert McTeer said he thought the Bank of England and RBA's recent decisions to increase interest rates should be given the benefit of the doubt and assume they…
Greenspan on the outlook for the US economy
In a speech to the Securities Industry Association annual meeting on 6 November Alan Greenspan of the Federal Reserve said soaring government budget deficits threaten the US economy in the long term and must be brought under control. But striking an…
Fed's Bernanke on the jobless recovery
In the speech 'The Jobless Recovery' given on 6 November Ben Bernanke of the Federal Reserve noted "a few encouraging signs" have appeared that a lengthy jobs slump was easing. "So far these signals of recovery remain tentative; on the basis of the…
Fed Reserve Bank of St Louis Review, Nov/Dec 2003
The latest edition of the St Louis Fed's Review for November-December 2003 includes an article by St Louis Fed President William Poole "Fed Transparency: How, Not Whether", "Burgernomics: A Big Mac Guide to Purchasing Power Parity", and "Banking…
Fed chief Greenspan hints end near for low rates
Fed Chairman Alan Greenspan suggested on 6 November that the end may be in sight for very low interest rates. Greenspan gave an optimistic assessment of the US economy's prospects for strong growth and appeared to depart from the FOMC's commitment to…
Interest rates can stay low says Fed governor
Federal Reserve governor Ben Bernanke said on 6 November there was "considerable scope" for US interest rates to remain at the current low rates without risking inflation. Bernanke told a conference sponsored by Carnegie Mellon University that he…
Santomero on beliefs in economics, monetary policy
In the speech 'Great Expectations: Beliefs in Economics and Monetary Policy' given on 5 November Anthony Santomero of the Federal Reserve Bank of Philadelphia said he believed the FOMC should seriously consider inflation targeting so as to consolidate…
Fed's Pianalto says US jobs lag unusual
Speaking Wednesday 5 November Federal Reserve Bank of Cleveland president Sandra Pianalto said normally it would be expected to take only around two years for the US to recover the number of jobs lost in recession, Reuters reported.
Chicago Fed's Moskow on U.S. Economic Outlook
In the speech 'U.S. Economic Outlook' given on 3 November Michael Moskow of the Federal Reserve Bank of Chicago said the most recent recession proved the adage that there is no such thing as a "typical recession." Despite some periods of slowing, light…
US Treasury's Snow denies weak-dollar policy
US Treasury Secretary John Snow has rejected speculation that Washington is pursuing a weak dollar policy, according to the Japan Times, by encouraging other countries to adopt flexible exchange rate policies.
Greenspan 6 Nov speech to discuss U.S. economy
Alan Greenspan will speak on Thursday, Reuters said, in his first extensive remarks since mid-July when he testified before Congress. The Federal Reserve chairman may also face questions on the U.S. economic recovery on Wednesday when he appears before…
Dallas Fed's 'Free to Choose' conference papers
The Federal Reserve Bank of Dallas's recent conference, "The Legacy of Milton and Rose Friedman's 'Free to Choose': Economic Liberalism at the Turn of the 21st Century" covered a broad spectrum of topics related to economic freedom, including Allan…