United States
Cleveland Fed announce Advisory Council appointees
The Federal Reserve Bank of Cleveland on Jan 31 announced the following appointments to its main office and branch boards of directors and to the Federal Advisory Council. All appointments were effective January 1, 2001.
Fed meets, seen cutting rates sharply Jan. 31
The U.S. Federal Reserve began a two-day meeting on Jan. 30 amid widespread conviction it will cut interest rates by another half a percentage point to pump life into the world's largest economy.While the meeting started at 9 a.m. (1400 GMT) Jan. 30, an…
Bush says will no longer comment on Fed
President George W. Bush said on Jan. 30, 2001, he had learned his lesson and will no longer comment on actions on short-term U.S. interest rates taken by the Federal Reserve. With the powerful central bank expected this week to cut borrowing costs by a…
Greenspan surprises with support for tax cuts
Federal Reserve Board Chairman Alan Greenspan delivered some surprising support for President George W. Bush's call for a $1.6 trillion tax cut, saying tax cuts will benefit the economy in the long run."In today's context, where tax reduction appears…
FRBNY: Corporate governance call for papers
The New York Fed is soliciting papers for an October 2001 conference on corporate governance that it will cosponsor with the Journal of FinancialIntermediation.
Greenspan-quicker Fed transcripts undesirable
Federal Reserve Chairman Alan Greenspan said on Jan. 25 the U.S. central bank should not be forced to more quickly release full transcripts of its monetary policy deliberations. The Fed currently releases the transcripts of Federal Open Market Committee…
Two senior officials appointed at IADB
The Inter-American Development Bank announced on Jan. 24 the appointment of Guillermo Calvo as chief economist and head of the Research Department and Carlos M. Jarque as manager of the Sustainable Development Department.
What Drives Productivity Growth?
Kevin J. Stiroh considers the debate on the best way to explain the sources of productivity growth in a forthcoming Economic Policy Review for the Federal Reserve Bank of New York.
US welfare reform: progress and prospects
Following a conference at the Federal Reserve Bank of New York October 2000 "Welfare reform, four years later: progress and propects", preliminary drafts of papers are now available from the Federal Reserve Bank of New York Research and Market Analysis…
Fed's liquidity date change efforts
The Fed's efforts to provide liquidity around the century date change likely had a stabilizing effect on the financing markets.
U.S. slowdown to hit Britain-BoE's George
Bank of England governor Eddie George has warned that fallout from an economic slowdown in the United States will affect Britain in 2001 but will not bring a "nightmare scenario", the BBC said on Dec. 29, 2000.
US in economic slowdown but far from recession-IMF
The International Monetary Fund has said that the United States is facing a slowdown in growth that will curb the global economic expansion. But the US economy is far from a recession and is nowhere near contracting, added the IMF's first deputy managing…
Fed policy shift stirs debate on economic policy
The Federal Reserve's warning on Tuesday that the economy was rapidly losing steam stirs the pot in a simmering debate between the Clinton administration and President-elect George W. Bush's team about whether a new prescription for growth is needed.
Fed unlikely to cut rates - Washington Post
Faced with slowing economic growth and an uncertain short-term economic outlook, a number of Federal Reserve officials have concluded that the risk of serious weakness in the economy is as great as the risk that inflation will get worse, the Washington…
HKMA concerned about US economic slowdown risk
The head of the Hong Kong Monetary Authority, one of the world's largest holders of foreign exchange, said he remained apprehensive about the risk of a downturn in the US economy, according to the Friday overseas edition of the Financial Times.
Interview with Nancy Stokey - The Region
Nancy Stokey and her University of Chicago colleague and partner, Nobel Laureate Robert E. Lucas Jr., chose to spend a semester's sabbatical at the Minneapolis Fed this autumn. Arthur Rolnick, the Minneapolis Fed's director of Research, took this…
When Genius Failed: The Rise and Fall of LTCM
This new book by Roger Lowenstein about Long-Term Capital Management suggests that the lenders were clueless as to the nature of the LTCM's assets and strategies and equally ignorant as to LTCM's total indebtedness. Rather, the banks relied on the brand…
Back From The Brink: The Greenspan Years
Journalist Steven Beckner, who has covered monetary policy since the beginning of the Greenspan years, has written a useful book that goes beyond the regular elliptical utterances of the Fed chairman. Reviewed by Kevin L. Kliesen, Economist, Federal…
Economists agree-Bush should befriend Greenspan
This article by Jacob M. Schlesinger from the Wall Street Journal says that the new US president, George W Bush, should learn to cultivating the US Federal Reserve chairman Alan Greenspan.
SEC eyes tougher options rules
US securities regulators are close to proposing tougher new rules over the disclosure and approval of stock option plans by US companies. By John Labate in New York, The Financial Times.
Friedman v. Mundell on exchange rates
Canada's Financial Post asked the two Nobel laureates Milton Friedman and Robert Mundell to participate in an exclusive e-mail debate about each other's views on modern day economics. Below we reprint the debate which was publish in the Financial Post on…
Fed likely to pass buck on predatory lending
An article published in the American Banker journal says that consumer groups hoping for the Federal Reserve Board to start cracking down on predatory lenders may be sorely disappointed when the central bank takes up the issue Wednesday.
US Senate gives 11% raise for Greenspan
The Senate passed a bill that gives Federal Reserve chairman Alan Greenspan an 11% raise and puts the long-held tradition of the central bank chief's twice-yearly Capitol Hill testimony in writing. The bill, passed by voice vote, now goes to President…