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Fed's Ferguson - Long term US econ prospects sound

US - Federal Reserve Vice Chairman Roger Ferguson on Tuesday said the U.S. economy's longer-term prospects "remain sound," but said it is not known how long it will be before U.S. economic growth begins to recover from the events of 11 September.

Meyer: Basel rules take time, need bank support

US - New rules on risk management and bank capital standards will take longer to set up than either banks or regulators want but they are too complicated to rush, Federal Reserve Governor Laurence Meyer said in a speech on Monday 15 October.

Speech by Patrick Barron of the Atlanta Fed

SPEECH - Remarks by Patrick K. Barron, Retail Payments Product Director, Federal Reserve Bank of Atlanta, BAI National Electronic Check Collection Conference, Tucson, Arizona, 1 October.

Growing Greenspan role worries some

US - Alan Greenspan has been everywhere in guiding economic policy in the wake of the terrorist attacks - slashing interest rates, helping to get Wall Street running again, shaping the tax cuts being developed by Congress and evaluating which airlines…

US tightens 'terror cash' laws

US - The US Senate has passed legislation to tighten laws against money-laundering, as financial authorities seek ways to clamp down on terrorists' sources of funding.

The Magic's Gone

RESEARCH - A hard look at the data shows that the famous NAIRU Phillips curve does no better at forecasting inflation than a simple look at the past. From 'The Region' published quarterly by the Federal Reserve Bank of Minneapolis, September 2001.

Global push for money laws

US - The world's leading industrial countries are to put pressure on offshore financial centres to clamp down on funds which could be used to pay for attacks like last month's suicide hijackings in America.

Former rep. pleads guilty to stealing funds

USA - A former Massachusetts congressman and director of the Federal Reserve Bank of Boston has pleaded guilty to stealing more than $200,000 from the Hawthorne Hotel in Salem, the Federal Deposit Insurance Corp. Inspector General's office announced…

Fed met on rates twice in wake of attacks

US - The U.S. Federal Reserve's Open Market Committee held two telephone conferences in the aftermath of the 11 September attacks in New York and Washington, agreeing unanimously on 17 September to cut interest rates sharply, according to minutes…

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