United States
Greenspan's surgery successful, says US Fed
Federal Reserve chairman Alan Greenspan has undergone surgery. The Fed said on Tuesday April 22 that the operation was successful and he should be back in his office later this week, according to a Reuters report.
Bush in favour of another term for Greenspan
US president Bush has said he backs Alan Greenspan for reappointment as chairman of the Federal Reserve. Bush is quoted by the Financial Times as telling reporters "I think Alan Greenspan should get another term".
Philadelphia Fed Business Outlook Survey, Apr 2003
The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported…
Ferguson on Check Clearing for the 21st Century
In testimony 'Check Clearing for the Twenty-first Century Act' Roger Ferguson of the Federal Reserve said although an increasing number of payments are being made electronically, it is clear that checks will continue to play an important role in the…
New York Fed's McDonough will attend May 6 FOMC
William McDonough will attend the Federal Reserve's May 6 meeting of the FOMC before taking up his position at the SEC, the Fed said on Wednesday 16 April, Reuters reports.
Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
St Louis Fed's Poole on shocks and more shocks
In aspeech on 'Shocks and More Shocks' William Poole of the Federal Reserve Bank of St. Louis said despite multiple shocks in recent years, the U.S. economy will probably continue to grow. "I cannot guarantee that the modest economic growth rate of last…
The Regional Economist, April 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2003 edition from the St Louis Fed includes an article 'Is Confidence High?' Economic forecasters rely on monthly consumer confidence surveys to help them determine…
Fed's McDonough to head new SEC accountancy board
US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board, according to a report by Associated Press.
Citigroup's Fischer mum on New York Fed post
After speculation that former IMF official and Citigroup Vice Chairman Stanley Fischer may be set to take over at the New York Fed, Monday brought silence from Fischer, Reuters reported.
Stanley Fischer favourite to head NY Fed?
Sources close to the Fed say former IMF official Stanley Fischer could be favourite to replace William McDonough at the Federal Reserve Bank of New York, according to a Reuters report.
Fed's Poole: Central bank can be patient
St Louis Fed chief William Poole was reported by Reuters to hacve said hat even though the Federal Reserve is under some pressure to make further cuts in interest rates, markets will automatically compensate by discounting longer term rates taking some…
Greenspan on the Reagan legacy
In a speech on 'The Reagan Legacy' Alan Greenspan of the Federal Reserve said Ronald Reagan saw inflation as a danger, and as President, afforded my predecessor Paul Volcker the political support that is so essential to a central bank when its pursuit of…
US plan to e-process checks has critics
A Federal Reserve proposal to allow banks to process checks electronically and substitute a new type of check for traditional paper checks has been endorsed by the banking industry, says Associated Press. But consumer groups say it would increase the…
Ferguson on patent policy in a broader context
In a speech on 'Patent Policy in a Broader Context' Roger Ferguson of the Federal Reserve said the U.S. patent process needs to protect intellectual property without stifling innovation, a balancing act that challenges those involved with patent policy.
Fed plans emergency economic rescue
With new fears of recession the Federal Reserve may be formulating an emergency economic rescue plan, accordintg to a report by Associated Press. The plan could involve three elements including lending massive amounts of money directly to commercial…
Strengthening of the US financial system
A Regulators Issue Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System was published on 8 April. The paper identified sound practices to strengthen the resilience of critical U.S. financial markets.
Greenspan on market economies and rule of law
In a speech on 'Market Economies and Rule of Law' Alan Greenspan of the Federal Reserve said as the fruits of ever-changing technology play an increasing role in the U.S. economy, the US must strike the right balance in developing legal protections for…
Greenspan on financial education
In a speech on 'Financial education' Alan Greenspan of the Federal Reserve said drilling basic financial concepts into young people will not only help them now but will also help them avoid financial pitfalls later in life that could plague them for…
NYSE nominate New York Fed's McDonough to Board
William McDonough, president of the Federal Reserve Bank of New York, has been nominated to the Board of the New York Stock Exchange.
Volcker critical of corporate governance failures
Former Federal Reserve chairman Paul Volcker has said governments are partly responsible for the scandals involving corporations such as Enron and WorldCom and that public scepticism has reached worrying levels, reports the VOA News.
Richmond Fed's Broaddus on the economic outlook
In a speech on 'The Economic Outlook in a Turbulent Period' J. Alfred Broaddus of the Federal Reserve Bank of Richmond said economic recovery in the US will be strong enough to ride out the Iraq war. The economy should be "solid enough" to withstand…
Minehan on the U.S. Retail Payments System
In a speech on 'Technology and the U.S. Retail Payments System: Challenges and Opportunities' Cathy Minehan of the Federal Reserve Bank of Boston said after September 11, no list of challenges can be complete without mention of the need to continually…
EconSouth from the Atlanta Fed First Quarter 2003
The Federal Reserve Bank of Atlanta has published its regular online magazine, EconSouth, for the First Quarter 2003. The latest edition contains a feature "What's Different About This Recovery". The article looks at the concept of a "stealth recovery".