United States
Dallas's McTeer on inflation targets
Dallas Fed president Bob McTeer said on Thursday 19 February that inflation targets were a marketing tool not needed by the Fed, and opposed lobbying to float China's currency.
Poole on the state of the U.S. economy
In a speech on 'State of the U.S. Economy' given on 20 February, William Poole of the Federal Reserve Bank of St. Louis said he saw the U.S. economy growing 4 to 5 percent this year and this growth should generate "significant increases" in employment.
Moskow: Regional, national US economic conditions
In a speech on 'Regional and National Economic Conditions' given on 19 February, Michael Moskow of the Federal Reserve Bank of Chicago said the Fed would not be deterred from raising interest rates by the proximity of the U.S. Presidential election if it…
Cleveland's Pianalto on the process of policy
In a speech on 'The Process of Policy' given on 13 January, Sandra Pianalto of the Federal Reserve Bank of Cleveland said provided a snap shot of a typical FOMC meeting, from the "go-round" when Committee members give their views on the economic outlook…
St Louis Fed's Central Banker, Winter 2003
The Winter 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on Check 21 which, it says, will speed up and simplify check processing. The Winter edition also reveals why the Bank is…
New York Fed names Christine Cumming First VP
The Federal Reserve Bank of New York named Christine Cumming, a 24 year veteran of the Bank, as its new first vice president on Monday (9 Feb). Timothy Geithner said that her fine judgement and intellectual contribution to the bank is impressive.
Fed says central banks keep buying US debt
Holdings of US government debt held by foreign central banks hit a new record high, the Federal Reserve said on Thursday 12 February. The Fed said it was partly due to the Bank of Japan's heavy intervention in the markets.
Improvements to the Federal Reserve's website
The Federal Reserve Board on Tuesday 10 February announced a number of improvements to its website, including the capability to view and submit comments on regulatory proposals.
Philadelphia Fed Business Review, 1st Quarter 2004
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the First Quarter 2004. In the latest issue President Anthony Santomero discusses how some extraordinary events, including the bursting of the tech bubble, the…
Greenspan sees vigorous growth, warns on deficit
In testimony on Wednesday 11 February, Fed Chairman Alan Greenspan said the U.S. economy has good odds for sustained robust growth, but that policy-makers can be patient about interest-rate rises. He warned there could be problems "in the relatively near…
Economic outlook 'mixed' at Chicago Fed
Chicago Fed president Michael Moskow gave his first speech of 2004 on Tuesday. But while we're sure he got his message across loud and clear, the bank's own website reported it with a spelling mistake in the title. Or is the US economy in more of a…
'Capitalism is not working'
Former US Treasury Secretary Paul O'Neill's recent book "The Price of Loyalty" contains various quotes attributed to Alan Greenspan. Although his comments on President Bush got much publicity recently, what the Fed maestro had to say was largely…
Fed's changes to payments system risk statement
The Federal Reserve Board on Thursday 5 February announced that, beginning in July 2006, it will require Reserve Banks to release interest and redemption payments on securities issued by government-sponsored enterprises and international organizations.
Focus on central banks
This article looks at some key events this week in the world of central banking. Ben Bernanke's comments on inflation ruffled some feathers, the author says, with the suggestion that deflation fears had receded substantially. The ECB's latest press…
Bies on enterprise-wide compliance programs
In a speech on 'Enterprise-wide Compliance Programs' given on 4 February, Susan Schmidt Bies of the Federal Reserve warned that it is too soon to assume corporate scandals and profit restatements were a thing of the past in U.S. and global business…
Chicago Fed's Moskow on the economic outlook
In a speech on 'Economic outlook' given on 3 February, Michael Moskow of the Federal Reserve Bank of Chicago said that worries that inflation is on the rise are premature, and it will take some time for pressure on resources to emerge.
Howard Dean calls Greenspan a political burden
US Democratic presidential contender Howard Dean said on Friday 23 January that Fed Chairman Alan Greenspan had become too political and should be replaced.
Chicago Fed National Activity Index, December 2003
The Chicago Fed National Activity Index (CFNAI) December 2003 was published on 29 January. The December CFNAI was +0.13 in December, the fourth consecutive positive monthly reading.
Minutes from the Federal Open Market Committee
The Federal Reserve on 29 January released the minutes of its FOMC meeting of 9 December. The minutes showed "a number" of members of the Committee felt that deleting a pledge to keep rates low "for a considerable period" would enhance the FOMC's…
FOMC holds rates, says 'it can be patient'
The Federal Open Market Committee decided on Wednesday 28 January to keep its target for the federal funds rate at 1 percent. The FOMC stated that it believed "it can be patient in removing its policy accommodation".
Greenspan on economic flexibility
In a speech on 'Economic flexibility' given on 26 January, Alan Greenspan of the Federal Reserve warned U.S. policy-makers worried about the loss of jobs not to heed calls for an increase in protectionist trade barriers, saying such a move could be …
Interview with San Francisco Fed's Robert Parry
In an interview published on Monday 19 January, soon to retire President Robert Parry of the San Francisco Fed said the US economy "is growing at a pretty rapid pace" while inflation remains at historic lows. The toughest time for him at the Fed was 2001…
Broaddus on US economic outlook for 2004
In a speech on 'The Economic Outlook for 2004' given on 16 January, J. Alfred Broaddus of the Federal Reserve Bank of Richmond said he thought the U.S. economy would outpace consensus forecasts for 4 percent growth in 2004 and inflation would stay "under…
Phil Fed's Santomero on the economic outlook
In a speech on the 'Economic Outlook' given on 15 January, Anthony Santomero of the Federal Reserve Bank of Philadelphia said interest rates can remain low for now, but when the economy nears full employment the Federal Reserve will need to start raising…