United States
Boston Fed's Minehan: Inflation pressures low
Cathy Minehan, president of the Boston Fed, said on Tuesday 16 December that the economic recovery seems to be "picking up steam", according to Reuters, and she suggested the Federal Reserve is content to watch the firming economy, without acting on…
Chicago Fed conf. sees US GDP up 4.1 pct in 2004
The Chicago Fed's Economic Outlook Symposium forecast an economic growth rate of 4.1 per cent for the US next year, Reuters reports. Chicago Fed senior economist William Strauss said the consensus outlook among conference participants was for the…
Foreign c banks' slow buying of U.S. debt - Fed
Figures released by the Federal Reserve showed purchases of US debt slowed by foreign central banks last week, according to Reuters. Total holdings of Treasuries and agencies for foreign central banks rose just $102 million to hit another record at just…
Kansas Fed's Hoenig appointed to Kauffman board
The Ewing Marion Kauffman Foundation's board has named Federal Reserve Bank of Kansas City President Thomas Hoenig as a director, effective immediately, reports the Business Journal. The Foundation supports programs in entrepreneurship and education in…
Greenspan-Capitalism and the role of globalization
In a speech on 'Capitalism and the role of globalization' given on 11 December, Alan Greenspan of the Federal Reserve said debates on the pros and cons of market capitalism have waged for generations. The collapse of the Soviet empire, and with it…
Oct. minutes of Federal Open Market Committee
The Federal Reserve on 11 December released the minutes of its FOMC meeting of 28 October. Federal Reserve policy-makers expressed concerns at their October meeting that the battered job market might not fully recover until at least 2005 even if the…
Fed minutes suggest low rates until 2005
The Federal Reserve's latest FOMC minutes released on Thursday 11 December, reinforced their regular statement that interest rates could remain low for a "considerable period" saying that they should not raise interest rates until they saw concrete signs…
IMF sees US growth sprinting ahead of eurozone
IMF chief economists Raghuram Rajan has told a German newspaper that the International Monetary Fund had increased its previous forecast for US growth by 0.1 percentage points to 4.0 percent, according to an AFP report.
Federal Reserve leaves rates unchanged
The Federal Reserve kept interest rates unchanged at its meeting on Tuesday. In a statement it retained the phrase "considerable period" in reference to its accommodative monetary policy. The FOMC also said the threat of deflation was receding.
Philadelphia Fed Business Review, 4th Quarter 2003
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Fourth Quarter 2003. In the latest issue President Santomero outlines what the Federal Reserve is doing to promote economic education and explains why knowledge is…
Fed upbeat about economic rebound
In their final meeting of the year on Tuesday 9 December, Fed Chairman Alan Greenspan and his colleagues offered their most upbeat assessment of the economy in recent months, reports Associated Press. In another encouraging note, Fed policy-makers said…
Poole: Perspective on U.S. International Trade
In a speech on 'A Perspective on U.S. International Trade' given on 19 November, William Poole of the Federal Reserve Bank of St. Louis said free trade is a policy that increases economic well being for a country as a whole. Specialization and exchange…
IMF says euro rise won't stall economic recovery
Anne Krueger told reporters on Tuesday 9 December thatthe euro's recent rise against the dollar was not "a negative" but was prompted by economic growth, according to a Reuters report.
US congress raises doubts over Basel II
The prospect that the US Congress would block ratification of the new accord seems to have increased following a letter from the house committee on financial services which has been scrutinising the accord.
Former Boston Fed boss to head Freddie Mac
Richard Syron, president of the Boston Fed from 1989-94 and in charge during the bailout of New England's largest bank, was appointed chief executive and chairman of Freddie Mac on Sunday 7 December.
Fed's Ferguson on the New Basel Accord
In a speech on 'Concerns and Considerations for the Practical Implementation of the New Basel Accord' given on 2 December, Roger Ferguson of the Federal Reserve said he believed international bank regulators could nail down the final details of the Basel…
Fed's Poole: Monetary Policymaker's Perspective
In a speech on 'A Monetary Policymaker's Perspective' given on 21 November, William Poole of the Federal Reserve Bank of St. Louis said a theme running through the Monetary History is role of inflation in the business cycle. The Federal Reserve has…
Atlanta Fed's Guynn on growth through balance
In a speech on 'Growth Through Balance' given on 6 Novembe, Jack Guynn of the Federal Reserve Bank of Atlanta said the key to sustainable economic growth, as with building a winning baseball team, is balance. You can't win in the big leagues with a…
Tom Hoenig, from baseball to banking
During a recent visit to a Kansas City school, Federal Reserve Bank of Kansas City President Tom Hoenig reminisced about his early experiences of banking as a 12-year-old baseball fan. He needed $100 to buy new equipment and his father talked a local…
Atlanta's Guynn: Beyond Short-Term Interests
In the speech 'Beyond Short-Term Interests' given on 21 November, Jack Guynn of the Federal Reserve Bank of Atlanta said the U.S. economy is already growing in a way that appears broad-based and sustainable. Atlanta has a long list of "right stuff"…
US Fed to expand ACH payment system to Latin Am
Atlanta Fed officials have said that the Federal Reserve's ACH payment system will be expanded to include a Latin American country in 2004, according to Business News America, but the Atlanta retail payments office did not reveal the country due to…
Federal Reserve Board - Beige Book, November 2003
The Federal Reserve released its November 2003 survey of Current Economic Conditions, known as the Beige Book, on 26 November. The survey said the US economy is now in a broad-based expansion. "Reports received from the district banks suggest that the…
Poole on U.S. International Capital Flows
In a speech on 'A Perspective on U.S. International Capital Flows' given on 14 November, William Poole of the Federal Reserve Bank of St. Louis said the forces driving the U.S. capital account represent a persistent, but ultimately temporary, process…
Philadelphia Fed's Santomero:on US recovery
In a speech on 'Perspectives on the Jobless Recovery' given on 14 November, Anthony Santomero of the Federal Reserve Bank of Philadelphia said once the current expansion gains a firmer foothold, monetary policy must eventually be moved to a less…