United States
Kohn on the strength in consumer durables
SPEECH - In the speech 'The Strength in Consumer Durables and Housing: Policy Stabilization or Problem in the Making?' Donald Kohn of the Federal Reserve said it seems likely that as the economy strengthens and interest rates rise in response, household…
St. Louis Fed wears many banking hats
ARTICLE - This article takes a look inside the St Louis Federal Reserve Bank and examines its operations including payment systems.
Greenspan on the Home Mortgage Market
SPEECH - In the speech 'Home Mortgage Market' Alan Greenspan of the Federal Reserve said borrowing against home equity has been a staple of household finance for decades, but that it has been only in the past decade or so that such practices have been…
OCC blow to Basel II timing
Hopes of finalising the new Basel capital accord in 2003 took a blow Monday as US Comptroller of the Currency John D. Hawke said in a speech that the OCC would insist on changes to the accord if, after a round of public consultation, US banks were not…
Bies on retirement savings, equity ownership
SPEECH - In the speech 'Retirement Savings, Equity Ownership, and Challenges to Investors' Susan Schmidt Bies of the Federal Reserve said the importance of longer-term trends in pension plans and equity ownership has been highlighted by tumbling stock…
Chicago Fed National Activity Index, January 2003
REPORT - CFNAI Shows U.S. Economy Improved in January - In January, the Chicago Fed National Activity Index (CFNAI) moved above zero for the first time since last July. The January reading was +0.38, a substantial improvement from December and the…
US bank regulators differ on international rules
Roger Ferguson has supported Basel II saying we have no alternative but to adopt the accord as soon as possible. But the rules were described as being too complex and rigid for what is needed at the same hearing by the Comptroller of the Currency John…
New York Fed on Current Issues
RESEARCH - The February 2003 edition of the New York Fed's 'Current Issues in Economics and Finance' contains an article titled 'New York City's Economy before and after September 11'. An analysis of employment and income trends suggests that the…
Greenspan on Aging global population
SPEECH - At a time when demographic factors are strongly affecting economic policy in many countries, Alan Greenspan yesterday told the Senate's Special Committee on Aging that at some point policy-makers will have to face up the fact that as the baby…
US Fed's Ferguson backs new world bank rules
Roger Ferguson said on Thursday that criticism of the Basel II rules have not convinced the Federal Reserve that the agreement should be scrapped.
Greenspan testimony on deposit insurance
SPEECH - In testimony titled 'Deposit insurance' Alan Greenspan of the Federal Reserve reiterated the central bank's opposition to raising the $100,000 limit on deposit insurance coverage, saying there would be no "clear public benefit" to the move.
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the First Quarter 2003. The economy will grow slowly over the first half of the year, according to 37 forecasters surveyed. However, the…
Santomero on corporate governance & responsibility
SPEECH - In the speech 'Corporate Governance & Responsibility' Anthony Santomero of the Federal Reserve Bank of Philadelphia said good corporate governance is critical to the health of the corporate system, our financial system, and our economy. The US…
Bernanke on balance sheets and the recovery
SPEECH - In the speech 'Balance Sheets and the Recovery' Ben Bernanke of the Federal Reserve assessed whether there exist financial constraints that might impede the developing recovery in the U.S. economy. His sense, he said, is that the household and…
Economic Perspectives, First Quarter 2003
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Inflation and monetary policy in the…
Philadelphia Fed Business Outlook Survey, Feb 2003
REPORT - Activity in the region's manufacturing sector was mostly flat, according to firms surveyed for February's Business Outlook Survey. Although one-third of firms reported higher new orders in February, one-fifth reported lower orders, and other…
Origin and Procedures of Central Banking
BOOK - The Federal Reserve Bank of Cleveland's Central Bank Institute has published the introduction to a new book called "Origin and Procedures of Central Banking". The papers in the accompanying volume were first presented at the Institute's first…
The Art of Targeting Inflation
RESEARCH - The Federal Reserve Bank of Cleveland's Central Bank Institute has published the paper "The Art of Inflation Targeting" by Lars Heikensten and Anders Vredin. The paper describes the Riksbank's transition to inflation targeting and explains how…
Ferguson on Rules and Flexible Monetary Policy
SPEECH - In the speech 'Rules and Flexibility in Monetary Policy' Roger Ferguson of the Federal Reserve said over the past twenty-five years some important consensuses have been achieved on the best way to conduct monetary policy. Central banks have…
McDonough on Implementing the New Basel Accord
SPEECH - In the speech 'Implementing the New Basel Accord' William McDonough of the Federal Reserve Bank of New York said the success of the New Accord will be directly attributable to the enormous support and assistance provided by both bankers and…
KC's Fed Reserve Bank joins economic conference
Economists from the Federal Reserve Bank of Kansas City will make presentations at a free conference Thursday in Jefferson City titled "Raising the Economic Speed Limit."
Bies on financial markets and corporate governance
SPEECH - In the speech 'Financial Markets and Corporate Governance in the United States and Other Countries' Susan Bies of the Federal Reserve said as the United States goes forward, even if transparency through corporate financial reports improves,…
Monetary Policy Report to the Congress
REPORT - In the Federal Reserve's report to Congress it reflects on the series of blows the US economy has suffered in the last few years, including the falls in equity values, the terrorist attacks of September 2001, corporate malfeasance and the…
Guynn on the state of the recovery
SPEECH - In the speech 'The State of the Recovery' Jack Guynn of the Federal Reserve Bank of Atlanta said the recovery is real, it's showing up on our radar; we know it's here, it's just not as obvious as it usually is. Guynn thinks the recovery will be…