Federal Reserve System
SF Fed's Yellen says rates may have to go up
Federal Reserve Bank of San Francisco President Janet Yellen reiterated Tuesday 12 September her concerns about inflation, and again said now is a time for policy makers to gauge how past interest-rate hikes are affecting the economy.
Fed's Kohn on evolution of retail payments
In the speech 'Evolution of retail payments and the role of the Federal Reserve' given on 11 September Donald Kohn of the Federal Reserve said technology advances and the increasing use of electronically deposited checks could spell the end of the…
Philadelphia Fed Business Review, 3rd Quarter 2006
The Federal Reserve Bank of Philadelphia published its Business Review for the Third Quarter 2006 on 8 September. The latest issue contains an article which reviews inflation targeting in developed countries.
Report says Bernanke wants more democratic Fed
Federal Reserve chairman Ben Bernanke is trying to depersonalise the Fed by making its decision-making more democratic and easier to understand, The Wall Street Journal reported late on Friday 8 September.
Federal Reserve Board - Beige Book, September 2006
The Federal Reserve published its September 2006 Beige Book survey on 6 September. The U.S. economy grew overall from mid-July to late August, according to the report.
St Louis Fed's Poole to cast Atlanta vote
Federal Reserve Bank of St Louis president William Poole will cast the Atlanta Fed's vote at the FOMC until a replacement has been found for its president, Jack Guynn, who retires on Oct. 1, the Fed said on Thursday 7 September.
Fed Reserve Bank of St Louis Review, Sep/Oct 2006
The latest edition of the St Louis Fed's Review for Sep/Oct 2006 includes the article 'Do Inflation Targeters Outperform Non-targeters?' The article says ten years of empirical studies of inflation targeting have not uncovered clear evidence that…
SF Fed paper on sovereign debt crises
The Federal Reserve Bank of San Francisco Working Paper "Sovereign debt crises and credit to the private sector" argues that, through its effect on aggregate demand and country risk premia, sovereign debt restructuring can adversely affect the private…
Fed's Poole says US inflation under wraps
U.S. inflation is under control right now and the economy is unlikely to suffer from "cascading weakness," St. Louis Federal Reserve Bank President William Poole said in an interview on Tuesday 5 September.
St Louis Fed's Central Banker, Fall 2006
The St. Louis Fed has published the Fall 2006 edition of its Central Banker magazine. In the article "More district banks choose the Fed as their regulator" Julie Stackhouse, senior vice president, Banking Supervision and Regulation asks bankers and…
Fed's Bernanke on productivity
In the speech 'Productivity' given on 31 August Ben Bernanke of the Federal Reserve said America's productivity probably will keep growing solidly for some time to come, an important force in bolstering living standards.
Central bankers are more like Santa than Scrooge
This recent article from Bloomberg says that Alan Greenspan changed the image of central bankers during his eighteen year term running the Federal Reserve and even made the job seem glamorous.
Frederic Mishkin sworn in as Fed board member
Frederic S. Mishkin on Tuesday 5 September took the oath of office as a member of the Board of Governors of the Federal Reserve System.
Chicago Fed National Activity Index, July 2006
The Chicago Fed National Activity Index for July 2006, published 23 August, was -0.12 in July, down from +0.43 in June. Two of the four broad categories of indicators in the index made small positive contributions.
Philadelphia Fed Business Outlook Survey, Aug 2006
According to the firms surveyed for the Philadelphia Fed's August 2006 Business Outlook Survey, activity in the region's manufacturing sector continued to expand. The indicator for general activity improved notably this month, and indicators for new…
Inflation outbreaks unlikely says Fed's Poole
Outbreaks in inflation are unlikely, especially with recent readings suggesting that price pressures have reached a plateau, St. Louis Federal Reserve President William Poole on Thursday 31 August.
Fed seeks to reassure over housing slowdown
Overall rises in disposable income should offset a possible increase in the saving rate due to a softening housing market, Federal Reserve chairman, Ben Bernanke, said in a letter to a congresswoman released on Wednesday 30 August.
Fed minutes indicate a "close call"
Minutes of the Federal Open Market Committee showed a 9-1 vote on 8 August in favour of keeping interest rates on hold.
Bernanke's opening speech at Jackson Hole
A speech by Ben Bernanke notes that, as in the past, the social and political opposition to openness can be strong.
Chicago Fed on home ownership
The Chicago Fed has published and article explaining recent high levels of residential investment and rates of home ownership.
Chicago Fed reviews explicit inflation targeting
The Federal Reserve Bank of Chicago president and CEO, Michael Moskow, considers whether the Fed should now adopt explicit numerical guidelines or targets for inflation.
SPEED: the new journal for financial plumbers
SPEED - short for Settlement, Payment, E-money and E-trading Development - is a new journal aimed at all those policy-makers in banks, central banks and system operators who are trying to ensure that the financial infrastructure, often called the …
Lucas critique & the stability of empirical models
This Federal Reserve Bank of Richmond Working Paper, published 14 August, re-considers the empirical relevance of the Lucas critique using a DSGE sticky price model in which a weak central bank response to inflation generates equilibrium indeterminacy.
San Francisco Fed's Economic Letter
The Federal Reserve Bank of San Francisco's Economic Letter "Would an inflation target help anchor U.S. inflation expectations?" published Friday 11 August says countries with explicit inflation targets have done a better job at anchoring inflation…