United States
Biographical summary for Timothy Geithner
Timothy Geithner, comparatively young for the position of President of the Federal Reserve Bank of New York at 42, rose rapidly after joining the US Treasury in 1988, emerging as a key figure during the 1990s international financial crises and becoming…
Federal Reserve Board - Beige Book, October 2003
The Federal Reserve Beige Book released on 15 October suggests that, on balance, the pace of economic expansion has picked up since the last report. Ten of the twelve districts indicate that activity has been expanding, while two--Boston and Cleveland-…
IMF official is named President of New York Fed
Timothy F. Geithner, 42, was named president and chief executive of the Federal Reserve Bank of New York on Wednesday 16 October, according to the New York Times. The appointment brings to an end the nine-month search for a replacement for William…
Fed's survey finds recovery in most areas
The Federal Reserve's Beige Book, released on Wednesday 15 October, said "On balance, the pace of economic expansion has picked up since the last report", according to Associated Press. The Current Economic Conditions survey, known as the Beige Book, is…
Ferguson: Future of Financial Services--Revisited
In the speech 'The Future of Financial Services--Revisited' given on 8 October Roger Ferguson of the Federal Reserve said the need for Basel II arises because modern risk measurement and management practices, including the increasing ability to…
Bernanke's statement on renomination to the Board
In testimony before the US Senate on 14 October Ben Bernanke of the Federal Reserve said although economic forecasting is far from an exact science, private-sector forecasters broadly agree that the economy should grow at nearly a 4 percent rate in 2004…
Chicago Fed's Moskow upbeat on growth
For a substantial fall in unemployment to occur the US economy must grow above potential for a "significant period of time" Chicago Fed President Michael Moskow said in a television interview Monday, Reuters reported.
Fed's Bernanke sees low U.S. rates until jobs grow
After some false starts the US economy is on track for a sustained recovery, Fed Governor Ben Bernanke said in testimony prepared for delivery to the Senate Banking Committee on Tuesday 14 October,according to Reuters. But Bernanke told the panel that…
Hoenig: U.S. economic outlook and monetary policy
In a speech on 'The U.S. Economic Outlook and Monetary Policy' given on 7 October Thomas Hoenig of the Federal Reserve Bank of Kansas City said he thinks the US economy will show stronger growth in the second half of this year and next year. Fundamental…
Minehan on the New England Economic Adventure
In a speech on the 'Opening of the New England Economic Adventure' given on 8 October Cathy Minehan of the Federal Reserve Bank of Boston said the Boston Fed has had a lengthy involvement in economic education. For years, we have taken groups on tours of…
Gramlich: Update on the Predatory Lending Issue
In his speech 'An Update on the Predatory Lending Issue' Edward Gramlich of the Federal Reserve said the effect of local laws aimed at stopping predatory lending - high-cost home loans to unsophisticated borrowers with spotty credit - was still unclear. …
More secure, colourful $20 note makes its debut
"After months of seeing them roll off of the presses, I am honored to spend the first new $20 bill in my hometown of Washington, D.C.," said James Brent, the chief of the office of currency production in the U.S., on 9 October.
Fed's Bies on the Current State of the Economy
In her speech 'Comments on the Current State of the Economy' given on 8 October, Susan Schmidt Bies of the Federal Reserve said recent indicators suggest the pace of economic activity has picked up, the banking system is healthy, corporate financial…
New colourful US $20 bill in circulation
The Federal Reserve's new $20 bill came into circulation on on Thursday 9 Octobe, NBC4 Columbus reports. The new greenback is no longer just green. With the help of blue and peach tones, a new eagle, watermarks, and other safety features, officials hope…
Fed's Ferguson says productivity key in long-term
Fed governor Roger Ferguson said on Wednesday 8 October that productivity growth, while posing a short-run economic challenge, was crucial to long-term U.S. economic health, according to a report by Reuters.
Fundamentals in place for economy upturn says Bies
Federal Reserve governor Susan Bies said on Wednesday 8 october that the building blocks are in place for better growth in the tepid U.S. economy, according to a report by Reuters. "Business investment increased over spring and summer, and the household…
'The Region' : Minneapolis Fed September 2003
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for September 2003. The issue includes an interview with Allan H. Meltzer, author of A History of the Federal Reserve and architect of the Shadow Open Market…
Kansas City Fed's Hoenig sees solid growth ahead
Speaking on Tuesday 7 October, Kansas City Fed chief Thomas Hoenig said that the Federal Reserve's current policy stance was appropriate for an economy that needed to grow faster than its long-run sustainable pace in order to bring down the unemployment…
Broaddus: The Economy Where is it Headed and When?
In a speech on 'The Economy: Where is it Headed and When?' given on 30 September J. Alfred Broaddus of the Federal Reserve Bank of Richmond said "When I fire up my lawn mower each weekend, the engine usually runs a little roughly for a minute before it…
Chicago Fed's Moskow on manufacturing
In a speech given on 30 September, Michael Moskow of the Federal Reserve Bank of Chicago said distinguishing whether the decline in manufacturing is simply related to near-term fluctuations in the business cycle or part of a larger structural change can…
Chicago Fed's Moskow on the U.S. Economic Outlook
In a speech on the 'U.S. Economic Outlook' given on 2 October, Michael Moskow of the Federal Reserve Bank of Chicago said the road to recovery is often bumpy and this time has been no exception. But, time and time again our economy has proven itself…
Study backs Greenspan's view on markets
Federal Reserve governor Ben Bernanke's speech on Thursday 2 October detailed research he has done into whether the Federal Reserve could have done more to prevent the stock market bubble of the 1990s. Bernanke told a University audience that interest…
Bernanke on Monetary Policy and the Stock Market
In a speech on 'Monetary Policy and the Stock Market: Some Empirical Results' Ben Bernanke of the Federal Reserve said that monetary policy was not a good tool to use for deflating stock-price bubbles, because doing so might hurt the whole economy. "A…
Santomero on Monetary Policy Post 9/11
In a speech on 'Monetary Policy in the Post 9/11 Environment: Stability through Change' Anthony Santomero of the Federal Reserve Bank of Philadelphia welcomed signs of faster growth, but expressed worry the economy could be slow to create jobs. He said …