United States
St Louis Fed's Central Banker, Fall 2003
The Fall 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on what community bankers said at a recent meeting with the St. Louis Fed and other regulatory agencies on reducing regulatory…
Weak job market poses economic risk-Fed's Broaddus
Speaking to a meeting of the Southern Governors' Association in West Virginia on Tuesday 23 September, reported by Reuters, Richmond Fed president Alfred Broaddus said he believed that consensus forecasts for economic growth at about a 4.5 percent annual…
New World Bank Chief Economist
Francois Bourguignon has been appointed chief economist at the World Bank, President James D. Wolfensohn announced on Friday 19 September. He succeeds Nicholas Stern, who will leave the Bank Group in October
Philadelphia Fed Business Outlook Survey, Sep 2003
Manufacturing firms reported an increase in new orders in September according to firms surveyed for the Philadelphia Fed's Business Outlook Survey, September 2003. New orders and shipments grew again this month, but employment declined, the survey said.
12 August Minutes of Federal Open Market Committee
The Federal Reserve on 18 September released the minutes of its FOMC meeting of 12 August. The members agreed that, although economic activity had shown signs of firming, the risks to the outlook remained about the same as they had indicated in the…
Olson on the need for improved financial literacy
In a speech on 'Increased Availability of Financial Products and the Need for Improved Financial Literacy' given on 22 September Mark Olson of the Federal Reserve said interagency guidance was issued to banks on managing risks relating to subprime and…
Bernanke: Fed can keep rates low
Federal Reserve Governor Ben Bernanke said on Monday 22 September that the U.S. can afford to keep interest rates low, mirroring the FOMC's recent statement, according to Reuters. Even with faster economic growth inflation is unlikely to become a problem…
Snow says U.S. economic growth on sustainable path
U.S. Treasury Secretary John Snow said on Tuesday 23 September that the US government was committed to cutting the budget deficit in half over the next five years, according to Reuters, and described US economic growth as being on a good and sustainable…
FOMC statement on decision to hold rates steady
In its statement following the decision to hold interest rates steady at 1 per cent on 16 September the FOMC said it judged that, on balance, the risk of inflation becoming undesirably low remains the predominant concern for the foreseeable future and…
Fed leaves key interest rate at 1 percent
The Federal Reserve signalled on Tuesday 16 September that interest rates would be kept low for a "considerable period", according to Associated Press. The Fed's assurances in August and this month that it will keep rates low for a considerable period…
Fed economist- Inflation target brings credibility
St. Louis Fed economist William Gavin said on Monday 15 September that a formal inflation target would not be a big constraint on the Fed's freedom to set monetary policy and that the U.S. central bank's current commitment to keeping inflation stable was…
IMF launches website in Arabic
The International Monetary Fund (IMF) on September 11 launched an Arabic language section of its website that provides information about the IMF in Arabic.
New assignments in the Office of Fed Board Members
The Federal Reserve Board has announced the appointment of Winthrop P. Hambley as Assistant to the Board and head of the Congressional Liaison Office, 10 September. and Laricke Blanchard as Special Assistant to the Board.
Greenspan welcomes Ferguson & Bernanke nomination
Statement from Alan Greenspan on President Bush's decision to nominate Roger Ferguson for a second term as Vice Chairman and nominating Ben Bernanke for a full term as a Governor of the Federal Reserve Board, 9 September.
Roger Ferguson honoured by nomination for 2nd term
Roger Ferguson expressed his honour at being nominated to serve another term as Vice Chairman of the Federal Reserve Board, 9 September.
Bernanke pleased to continue at Fed
Ben Bernanke said he was very pleased to have the opportunity to continue to work with Alan Greenspan and his Federal Reserve colleagues, 9 September.
KC Federal Reserve Bank announces appointments
The Federal Reserve Bank of Kansas City has announced two appointments to represent the 10th Federal Reserve District on the Federal Advisory Council.
Greenback's end...
The end of the greenback is nigh! On October 9 a new and improved version of what has hitherto been affectionately known as the "greenback" will enter into circulation, but the new $20 note will not actually be green. The background is to be a shade of …
Fed's Gramlich on Economic and financial education
In a speech on 'Economic and financial education' given on 4 September Edward Gramlich of the Federal Reserve thanked the Federal Reserve Bank of Atlanta for hosting the conference and bringing together the group of educators. Success in increasing…
Parry on prospects for the national, local economy
In a speech on 'Prospects for the National and Local Economies: A Monetary Policymaker's View' given on 4 September Robert Parry of the Federal Reserve Bank of San Francisco said in the unlikely event that US economic growth disappoints, the Fed could…
Parry: Fed still has room to cut rates if needed
Robert Parry said on Thursday 4 September that the Federal Reserve still has room to cut interest rates if the US economy were to underperform, Reuters reports. But the San Francisco Fed chief, who is a voting member of the FOMC, stressed that he thought…
Fed's Ben Bernanke on the economic outlook
In a speech on 'The Economic Outlook' given on 4 September Ben Bernanke of the Federal Reserve said the Fed had "no reason" to raise short-term interest rates so long as price pressures remained at bay. "In my view, the Federal Open Market Committee has…
Fed's McTeer: US jobless rate may drop by year-end
Dallas Fed President Robert McTeer said on Thursday 4 September, that with an upturn in US growth unemployment could fall by the end of the year, according to Reuters. He told reporters "It could easily be under 6 percent by year-end".
Federal Reserve Board - Beige Book, September 2003
The Federal Reserve Beige Book released on 3 September said that the US economy improved in July and August but the jobs market was stubbornly weak. "Labour markets remain slack across the nation, with few reports of occupational shortages," the report…