Federal Reserve System
Donald Kohn appointed Chairman of the CGFS
At their meeting in Basel this weekend, the Governors of the central banks of the Group of Ten (G10) countries appointed Donald L Kohn as Chairman of the Committee on the Global Financial System (CGFS).
Bernanke tops Greenspan as market mover
This article from CNN Money, published Thursday 22 June, reports that a new study reveals that new Fed chief Ben Bernanke has provoked more movement than his predecessor, accounting for 27 basis points of variation in two-year yields.
Comment: Wanted: experienced US central banker
The perception of a "Fed in flux" has been strengthened by the departure of two more senior officials. With the unprecedented rate of turnover in personnel, the Fed now appears somewhat short of experience. Chairman Ben Bernanke's job could be made…
'The Region' from the Minneapolis Fed, June 2006
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for June 2006. The latest edition includes an interview with Stanford economist, John B. Taylor, on inflation targets, exchange rates and the eponymous rule.
Study says markets on Fed's wavelength
According to a recent study by the Federal Reserve Bank of Cleveland, better communication by the U.S. central bank has dramatically cut mistakes by markets betting on future interest rate moves.
Dallas Fed study says Mexico financially sound
A study by the Federal Reserve Bank of Dallas has found that Mexico is in sound financial shape and should maintain economic stability through its upcoming presidential election.
Toothless Fed
According to this article from CNN Money, published Thursday 22 June, the Federal Reserve's ability to control the host of things that are driving inflation higher is rather limited.
Chicago Fed National Activity Index, May 2006
The Chicago Fed National Activity Index for May 2006, published 22 June, was -0.16 in May, down from +0.26 in April.
Atlanta Fed's Guynn set to retire
Jack Guynn, president of the Federal Reserve Bank of Atlanta, announced Thursday 22 June that he plans to retire effective from 1 Oct 2006.
Former Fed vice chairman joining Swiss Re
Former Federal Reserve vice chairman Roger Ferguson is joining global reinsurance company Swiss Re in a senior executive position, the company announced on Monday 19 June.
What central banks are doing to raise interest
This article published Wednesday 21 June looks at central bank websites, saying that at their best the world's central banks are showing how a website can be used to provide information for a range of audiences.
Fed's Kohn on the effects of globalization
In the speech 'The effects of globalization on inflation and their implications for monetary policy' given on 16 June Donald Kohn of the Federal Reserve said cutting U.S. inflation "could be difficult and costly" once it rose.
Fed's Olson named chairman of PCAOB
Federal Reserve governor Mark Olson was named on Monday 19 June as head of the Public Company Accounting Oversight Board, a U.S. watchdog that polices corporate auditors.
Senate approves Kohn as Fed vice chairman
The U.S. Senate approved the nomination of Federal Reserve governor Donald Kohn on Monday 19 June, to be vice chairman at the US central bank.
Philadelphia Fed Business Outlook Survey, Jun 2006
According to the firms surveyed for the Philadelphia Fed's June 2006 Business Outlook Survey, activity in the region's manufacturing sector continues to expand.
Summers against inflation targets
Former US treasury secretary Lawrence Summers said on Friday 16 June that the Federal Reserve should not adopt any explicitly rule-based monetary policy regime.
Hoenig says imbalances spell slow-motion crisis
The United States faces a "growth crisis over time" from its large and persistent current account balance, Thomas Hoenig, president of the Kansas City Federal Reserve Bank, said on Friday 16 June.
Fed's Kroszner on why yield curves are so flat
In the speech 'Why are yield curves so flat and long rates so low globally?' given on 15 June Randall Kroszner of the Federal Reserve said lower perceived risks of inflation around the world have contributed to lower long-term interest rates.
Fed's Bernanke on energy and the economy
In the speech 'Energy and the economy' given on 15 June Ben Bernanke of the Federal Reserve said a quickening in inflation outside the volatile food and energy areas, and a bit of a run-up in gauges of expected inflation, had caught his eye.
Federal Reserve Board - Beige Book, June 2006
The Federal Reserve published its June 2006 Beige Book survey on 14 June. The U.S. economy continued to expand from mid-April to early June, but there were signs of slowing growth and inflation, the report said.
Fed's Bies on mortgage lending practices
In the speech 'A supervisor's perspective on mortgage markets and mortgage lending practices' given on 14 June Susan Schmidt Bies of the Federal Reserve said a cooler US housing market could help achieve the goal of sustainable economic growth.
Comment: May inflation surprise
In a murky environment, this week's inflation data was billed as crucial to providing clarity on the future direction of US interest rates in the months to come. By that logic, another hike in two weeks time is a certainty, with another probably…
Fed's Bernanke on increasing economic opportunity
In the speech 'Increasing economic opportunity: Challenges and strategies' given on 13 June Ben Bernanke of the Federal Reserve said low-wage workers who receive training in how to use banks, to save and pay bills have a better chance of improving their…
Fed's Olson on the Home Mortgage Disclosure Act
In testimony 'Home Mortgage Disclosure Act' given on 13 June Mark Olson of the Federal Reserve said data collected under the U.S. Home Mortgage Disclosure Act raise troubling questions about lending to black and Hispanic borrowers and more research is…