United States
Active policy can provide stability-Fed's Bernanke
Federal Reserve Governor Ben Bernanke said in a paper due to be delivered at a Dallas Fed conference on Friday 24 October that "The fact that the Federal Reserve and other central banks actively manipulate their instrument interest rates is not…
Greenspan to address Cato's Monetary Conference
Federal Reserve Chairman Alan Greenspan is scheduled to participate in the Cato Institute's 21st Annual Monetary Conference, "The Future of the Euro," at The Renaissance Hotel in Washington, D.C., on Nov. 20. Topics on the agenda include the impact of…
Minehan on Housing in the Nation & in New England
In a speech on 'Housing in the Nation and in New England' given on 16 October, Cathy Minehan of the Federal Reserve Bank of Boston said despite worries that job losses could hurt the booming housing market, the level of housing investment will likely…
San Francisco Fed's Parry on the economic outlook
In a speech on 'Economic Outlook: National Trends, Regional Implications' given on 16 October, Robert Parry of the Federal Reserve Bank of San Francisco warned that interest rates will not stay at their current lows indefinitely. "The most likely outcome…
Poole on Economic Growth & the Real Interest Rate
In a speech on 'Economic Growth and the Real Rate of Interest' given on 14 October, William Poole of the Federal Reserve Bank of St. Louis said his best guess is that the current stance of policy makes adequate allowance offsetting the risk that the…
Ferguson's testimony before the US Senate
In testimony before the US Senate given on 14 October, Roger Ferguson of the Federal Reserve said "During my years on the Board of Governors, I have done my best to contribute positively to all aspects of the Federal Reserve's many responsibilities. I…
Snow's remarks on interest rates clarified
Clarification of US Treasury Secretary John Snow's comments on interest rates has been given by a spokesman, who explained, according to the Financial Times, that he was talking about long-term market interest rates, not short-term official rates. Snow…
Ferguson at the New England Economic Adventure
In a speech at the opening of the New England Economic Adventure at the Federal Reserve Bank of Boston given on 8 October Roger Ferguson of the Federal Reserve said "While I would like to think that all of the Federal Reserve System's economic education…
Fed's Bernanke wants public inflation objective
Fed governor Ben Bernanke told the St Louis Fed's inflation targeting conference on Friday 17 October that in the current climate of low inflation, it was important to keep the public informed about the Fed's long-run intentions, according to Reuters…
Philadelphia Fed Business Outlook Survey, Oct 2003
Activity in the region's manufacturing sector improved in October, according to firms polled for the Philadelphia Fed's Business Outlook Survey, October 2003. Most of the current indicators increased this month, the report finds, and manufacturers' six…
Inflation target could insulate Fed, Poole says
St. Louis Fed President William Poole said on Thursday 16 October that the Federal Reserve should adopt a target for an acceptable level of inflation in part to insulate itself from political pressures. He was speaking at the start of a two-day…
Federal Reserve on New York Fed's appointment
Statement from the Federal Reserve, 15 October, on the appointment of Timothy F. Geithner's appointment as President of the Federal Reserve Bank of New York.
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.