United States
Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its Fourth Quarter 2003 Survey of Professional Forecasters on 24 November. Forecasters gain optimism about 2004 - The outlook for growth over the next few quarters looks stronger now than it did just…
Fed's Poole says not worried on money supply drop
William Poole, President of the St Louis Fed, said on Friday 21 November that "If something happens that calls for policy to change then policy will change,", but until then interest rates would at their current record low levels, Reuters reports.
Fed to issue Beige Book 2 hours early
Due to the early closure of some financial markets for the Thanksgiving holiday, the Federal Reserve has said it will issue its Beige Book two hours early on 26 November, according to Reuters.
Fed's Ferguson hints no U.S. rate hike soon
Federal Reserve Vice-Chairman Roger Ferguson said in remarks to the Executives' Club of Chicago on Friday 21 November, and reported by Reuters, "Although the recovery now appears to have turned the corner, much additional progress remains to be made…
Fed's Stern sees no pick-up in inflation
Minneapolis Fed President Gary Stern said on Friday 21 November that if US inflation remains low, which he thinks it will, interest rates can also remain low, according to a Reuters report. "I don't expect to see any material acceleration of inflation…
Chicago Fed National Activity Index, October 2003
CFNAI indicates economy continued to grow in October - The Chicago Fed National Activity Index (CFNAI) released 20 November was +0.01 in October, a small decline from the September reading of +0.16.
Philadelphia Fed Business Outlook Survey, Nov 2003
Activity in the region's manufacturing sector continues to expand, according to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, November 2003. The manufacturers remain optimistic about activity over the next six months.
Fed's Guynn says U.S. recovery sustainable
Speaking on Friday 21 November Atlanta Fed President Jack Guynn said that the US is already growing in what appears to be a broad based and sustainable way, according to Reuters. Though consumer spending may ease in the coming months, it is likely to…
Fed's Kohn on inflation targeting
In a speech to the St Louis Fed Inflation Targeting: Prospects and Problems Conference given on 17 October, Donald Kohn of the Federal Reserve said he believes that those who propose changes from a good system have a high burden of proof. The marginal…
Parry: Role of the Federal Reserve in the economy
In a speech on 'The Role of the Federal Reserve in the Economy' given on 18 November, Robert Parry of the Federal Reserve Bank of San Francisco said it looks as if after a couple of years of sluggish performance the US economy mayhave finally found its…
Greenspan: Deficits haven't hurt economy
In remarks to a monetary conference sponsored by the Cato Institute on Thursday 19 November, Fed Chairman Alan Greenspan said "creeping protectionism" may interfere with US attempts to reduce its huge trade deficit, according to Associated Press. Without…
Fed's Greenspan on the current account deficit
In a speech given on 20 November, Alan Greenspan of the Federal Reserve said should globalization be allowed to proceed and thereby create an ever more flexible international financial system, history suggests that current imbalances will be defused with…
Data to determine when rates will rise-Fed's Poole
St. Louis Federal Reserve Bank President William Poole said on Wednesday 19 November that new economic data would determine when U.S. interest rates eventually rise. He suggested he was comfortable with the current market view of when the federal funds…
Richmond Fed's Broaddus: Macroeconomic Principles
In a speech on 'Macroeconomic Principles and Monetary Policy' given on 14 November, J. Alfred Broaddus, Jr. of the Federal Reserve Bank of Richmond said that while carefully monitoring incoming data and the evolution of the near-term outlook for the…
Philadelphia Fed's Santomero on monetary policy
In ae speech on 'Monetary Policy: Stability Through Change' given on 18 November, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the current economic recovery appears to be gaining traction. "I look forward to self-sustaining economic…
Fed's Parry-US economy has room for strong growth
Speaking on Tuesday 18 November, , San Francisco Fed chief Robert Parry said US interest rates could remain at 1 percent for "a while longer" and that there is room for some pretty strong growth before inflationary pressures become a concern.
Greenspan, Snow seek Mutual Fund reforms
Federal Reserve Chairman Alan Greenspan and U.S. Treasury Secretary John Snow on Tuesday 18 November,in letters to the heads of the Senate and House committees overseeing the financial services industry who are holding hearings into the industry this…
No sign of U.S. inflation pressure-Fed's Santomero
There is some distance between the current level of the US economy and its potential, Anthony Santomero told the Philadelphia Estate Planning Council on Tuesday 18 November, according to Reuters. The Philadelphia Fed President also said a counter…
Fed's Ferguson on regulatory capital
In a speech on 'The Proposed U.S. Approach to Regulatory Capital: An Update' given on 13 November, Roger Ferguson of the Federal Reserve said he considers the recent decisions reached by the Basel Committee to be a very good example of how supportable…
Broaddus of Richmond Fed announces plan to retire
J. Alfred Broaddus, Jr., president of the Federal Reserve Bank of Richmond, announced on Thursday 13 November that he plans to retire on August 1, 2004, according to Associated Press. He turns 65 next July. 'It has been a great privilege to serve the…
Metcalfe named chair of St. Louis Fed's Board
The Federal Reserve Bank of St Louis has named Walter Metcalfe Jr. as chairman of its Board of Governors, with effect from 1 January 2004, reports the St Louis Business Journal. Gayle Jackson has been named deputy chair.
Ben Bernanke takes oath of office for new Fed term
Ben Bernanke took the oath of office last Friday, 14 November, for a new term on the Federal Reserve's Board of Governors. The ceremony was conducted by Chairman Alan Greenspan in his office and was witnessed by Bernanke's wife and children.
Moskow on communicating U.S. monetary policy
In a speech on 'Formulating and Communicating U.S. Monetary Policy' given on 13 November, Michael Moskow of the Federal Reserve Bank of Chicago said despite all of our econometric models and equations, monetary policy is still more of an art than a…
Foreign central banks buy more U.S. debt - Fed
Holdings of US Treasuries by foreign central banks rose further above the $1.0 trillion level reaching a new record high in the latest week, according to a Reuters report. The Federal Reserve said on on Thursday 13 November that foreign central banks…