United States
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 …
Fed's Santomero sees economy picking up steam
Philadelphia Federal Reserve President Anthony Santomero said on Thursday 2 October "Employment gains will be slow in coming, and we still have some way to go before we reach our goal of maximum sustainable growth", according to Reuters. He also said the…
Bernanke says slow US job growth a concern
Governor Ben Bernanke of the Federal Reserve said on Thursday 2 October that the US economy appeared poised for steady growth through 2004 but weak employment prospects were worrying, Reuters reports. Bernanke said he saw no reason for concern that the…
Fed's Gramlich on Maintaining Price Stability
In the speech 'Maintaining Price Stability' given on 1 October Edward Gramlich of the Federal Reserve said on inflation targeting, "To me the verdict on theoretical grounds alone has always been a close call. I can see the advantages of transparency and…
Fed's McTeer sees long spell of low U.S. rates
Dallas Fed President Robert McTeer said Wednesday that there is enough slack in the US economy "for interest rates to be on the historically low side for the foreseeable future". Earlier, McTeer told reporters he saw the U.S. economy moving ahead at a…
Fed's Moskow says factory slump is part structural
Speaking on Tuesday 30 September, Chicago Fed chief Michael Moskow said it was hard to distinguish how much of the downturn in manufacturing was due to the business cycle, and how much to structural changes, according to Reuters. But he said he was…
Atlanta Fed's Guynn-U.S. recovery gaining steam
The recovery is more tangible now and a lot less academic, Atlanta Fed President Jack Guynn has said. He told a Commerce Club lunch on Tuesday 30 September that the pick up in U.S. economic growth is helping to restore optimism about the future strength…
Scant jobs pose U.S. recovery risk- Fed's Broaddus
Federal Reserve Bank of Richmond President Alfred Broaddus said on Tuesday 30 September, Reuters reports, that he saw a risk that already fast growth in productivity could accelerate, making it even harder to bring down the unemployment rate and lessen…
Ed Gramlich: No formal US inflation target needed
Federal Reserve Governor Edward Gramlich said on Wednesday 1 October that the US could benefit from an agreed target range for prices, but an explicit inflation target was not needed as it could further tie down the FOMC. Speaking in Toronto he said some…
Fed Res Bank of San Francisco - Annual Report 2002
The Federal Reserve Bank of San Francisco has published its Annual Report for the year ended 2002. The Annual Report said the District refocused its payments business strategy to streamline operations, gain efficiencies, and control costs by realigning…
Philadelphia Fed Business Review, 3rd Quarter 2003
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Third Quarter 2003. In the first article President Santomero examines whether inflation targeting makes sense for the U.S. Other articles examine changes in the…
Fed's Greenspan on Financial Education
In a speech on 'Financial Education' given on 26 September Alan Greenspan of the Federal Reserve said the financial marketplace has grown increasingly complex since the era four decades ago when all Americans needed to know was how to write a check and…
Minehan on the current state of the US economy
In a speech given on 25 September Cathy Minehan of the Federal Reserve Bank of Boston said the robust growth most analysts expect for this quarter and next seems assured, and that should help sustain the economy next year. "There are downside risks to be…