United States
Economic Review from the Atlanta Fed
The Federal Reserve Bank of Atlanta has published its Economic Review for the second quarter 2003. The latest edition includes an article titled 'Are On-Line Currencies Virtual Banknotes?'. This article examines the likely success or failure of on-line…
Fed awards contract for bank data modernisation
Regulators award contract in first step to modernize and streamline how federal bank regulators collect, process and distribute quarterly bank financial reports, 17 June.
Ferguson on some issues for Basel II
In a speech on 'Basel II: Some Issues for Implementation' Roger Ferguson of the Federal Reserve said that Basel I must be replaced, particularly in a world whose financial markets are so interrelated that substantial difficulties at any one of the…
Reconciling Bagehot with Fed's response to Sept 11
Walter Bagehot, an elder statesman of central banking theory, stated that central banks should lend money at penalty rates to prevent bank panics. Yet the Fed lent for next to nothing following 9/11. Why this departure from received central banking…
Kansas City Fed gets approval to move to new HQ
President Thomas M. Hoenig of the Kansas City Fed said on Monday 16 June that the Federal Reserve had approved plans for an estimated $200 million project to build a new headquarters for the Federal Reserve Bank of Kansas City, according to the Kamsas…
Minneapolis Fed president upbeat about economy
Gary Stern of the Minneapolis Fed said he thinks there is a low probability of deflation in the US, but would not rule it out, according to Associated Press. The problem in Japan, he said, is inadequate growth of the money supply and allocation of too…
Fed Reserve Bank of New York - Annual Report 2002
The Federal Reserve Bank of New York has published its Annual Report for the year ended 2002.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Fed Res Bank of Minneapolis - Annual Report 2002
The Federal Reserve Bank of Minneapolis has published its Annual Report for the year ended 2002. The Annual Report contains an article 'Between Two Worlds How Do Credit Markets Work? - An investigation into credit availability in the Minneapolis-St. Paul…
Fed can push harder against deflation- Fed's Poole
St. Louis Fed President William Poole told Reuters in an interview that the Federal Reserve "can push harder" if necessary to prevent a deflationary spiral from happening.
Fed's- Beige Book: US economy struggling
The Federal Reserve Beige Book released 11 June said the US economy has struggled to gather pace since the end of the Iraq war and the performance of output and employment has been disappointing.
Ferguson - Economic challenges facing US and Japan
In a speech on 'Uncertain Times: Economic Challenges Facing the United States and Japan' Roger Ferguson of the Federal Reserve described the country's near-term economic prospects as "still somewhat clouded" and said "preventing deflation remains…
Greenspan on natural gas supply and demand issues
In testimonyto the Committee on Energy and Commerce, U.S. House of representatives, on 'Natural gas supply and demand issues' Alan Greenspan of the Federal Reserve said high natural gas prices are likely to last into next year, and could weaken some key…
Santomero-Flexible commitment or inflation target?
In a speech on 'Flexible Commitment or Inflation Targeting for the U.S.?' Anthony Santomero of the Philadelphia Fed said "I believe the (Federal Open Market Committee) should seriously consider inflation targeting".
Fed Reserve Bank of Dallas - Annual Report 2002
The Federal Reserve Bank of Dallas has published its Annual Report for the year ended 2002. Following the 2001 recession, the report says, economic activity expanded throughout 2002, but not vigorously enough to sustain or promote employment growth…
Santomero - FOMC should consider inflation target
Philadelphia Fed president Anthony Santomero said on Tuesday 10 June that with inflation at its current levels "Inflation targeting makes sense in principle for the U.S.", according to a Bloomberg report.
Fed Reserve Bank of Boston - Annual Report 2002
The Federal Reserve Bank of Boston has published its Annual Report for the year ended 2002. In the report President Cathy Minehan said information learned in 2002 through new Federal Reserve research that the use of checks is declining faster than had…
Stewart to be acting CEO of NY Fed
The Federal Reserve Bank of New York said on Thursday 5 June that Jamie B. Stewart will act as chief executive officer of the bank as of June 11, while the search for the new president continues. He will also serve as a voting member of the Federal Open…
Greenspan found learning a 'troublesome activity'
Alan Greenspan has been providing encouragement to school children, but when they asked whether rates are going up or down he replied smilingly, "Yes", according to a report from This is London.
New York Fed has problems replacing McDonough
The New York Fed has turned to a headhunter for help to find a successor to its outgoing governor Bill McDonough, the Financial Times reports. Jamie Stewart, the bank's first vice-president, will perform his functions in the interim.
International Research Forum on Monetary Policy
The Fed and ECB have announced the dates for their second international monetary research conference to be held in Washington, November 14-15 2003.
Parry on the prospects for the US economy
In a speechon 'Prospects for the National and Local Economies: A Monetary Policymaker's View' Robert Parry of the Federal Reserve Bank of San Francisco said if it seemed appropriate, we still would have room to give a boost to the economy - even though…
Fed's Greenspan sees signs of recovery
Speaking to the gathering of top central bankers in Berlin on Tuesday 3 June, Fed chairman Alan Greenspan said indications were that a "fairly marked turnaround" was on the way, according to a report by Assoiated Press.
SF Fed's Parry on prospects for the US economy
In a speech on 'Prospects for the National and Local Economies: A Monetary Policymaker's View' Robert Parry of the Federal Reserve Bank of San Francisco said we have seen continuing job losses, little strength in business investment, and most of the…