United States

Bush expected to name Fed nominees - Report

USA - U.S. President George W. Bush is expected to nominate Princeton economist Ben Bernanke and Federal Reserve official Donald Kohn to the central bank's board, sources apparently told Reuters on Tuesday. A White House spokeswoman on Tuesday declined…

Debating and preparing for the Payments Future

FEATURE - In a rare set of predictions on how the U.S. payments system's transaction mix will evolve, The Nilson Report in the American Banker says that in about 10 years debit cards will overtake credit cards, cash will remain king, and paper checks…

Speech by A Santomero of Philadelphia Fed, 25 Apr

SPEECH - Santomero said on Thursday in a speech titled 'The Reluctant Recession: Why Was the Recession So Mild?' that it is too soon to tell when the U.S. economy will be strong enough for the U.S. central bank to consider raising interest rates.

Speech by W. McDonough, New York Fed Bank, 25 Apr

SPEECH - In the speech 'Bank Supervision and Credit Standards under Basel II - Perspectives for SMEs' McDonough said "it is an honor to join your discussion on the efforts of the Basel Committee on Banking Supervision to ensure that the international…

St Louis Fed's Poole - Must guard for inflation

US - In a speech on productivity at a University of Missouri-sponsored dinner, Poole said that for the U.S. economy to enjoy the higher living standards and faster trend rate of economic growth offered by increases in productivity - or worker output per…

Speech by Robert Parry, San Francisco Fed, 23 Apr

SPEECH - Parry said on Tuesday in a speech titled 'Inside the Federal Reserve: A District Bank President's Perspective' uncertainty lingers about the strength of the U.S. economic recovery and the Fed can take its time deciding when to raise short-term…

Federal Reserve Board - Beige Book

REPORT - Prepared at the Federal Reserve Bank of Kansas City and based on information collected before April 16, 2002. This document summarizes comments received from business and other contacts outside the Federal Reserve and is not a commentary on the…

Speech by M Moskow, President, Chicago Fed, 17 Apr

SPEECH - Moskow said in a speech titled 'The Impact of Open Markets and Expanded Trade on Economic Development' that the U.S. economic recovery is underway and the full effects of the reduction in rates over the past 15 months have yet to be felt.

Speech by M Moskow, President, Chicago Fed, 22 Apr

SPEECH - In his opening remarks to the Asset Bubbles Conference Moskow said that during the last two decades, there have been instances throughout the developed and developing worlds of prolonged build-ups and sharp collapses in asset prices in stock,…

Speech by Fed Chairman Alan Greenspan, 22 Apr

SPEECH - Federal Reserve Chairman Alan Greenspan said on Monday in a speech titled 'Finance: United States and global' he saw early signs of a recovery in business capital spending but warned that he did not believe the corporate investment rebound would…

An overview of the Federal Reserve System

FEATURE - In an interesting article Hoover's Company Profiles look at the history of the Federal Reserve. The Federal Reserve Act followed the panic which ensued after the failure of New York's Knickerbocker Trust Company in 1907. J. P. Morgan strong…

IMF Press Conference

PRESS CONFERENCE - Transcript of a Press Conference Following The International Monetary and Financial Committee Meeting, Washington, D.C., 20 April.

G7 didn't discuss exchange rates says Duisenberg

US - Finance ministers and central bankers from the Group of Seven leading industrial nations didn't discuss foreign exchange during their meeting Saturday, "apart from the usual statements," European Central Bank President Wim Duisenberg said.

Volcker seen as likely to step aside at Andersen

USA - Paul A. Volcker, the former Federal Reserve chairman sought to help embattled Arthur Andersen LLP map out a future, now looks likely to step aside, deepening the crisis within the accounting firm, Monday's Wall Street Journal reported.

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