Federal Reserve System
Inflation targeting and inflation expectations
The San Francisco Fed Working Paper "Does inflation targeting anchor long-run inflation expectations? Evidence from long-term bond yields in the U.S., U.K., and Sweden" published March 2006 investigates the extent to which inflation targeting helps…
Chicago Fed National Activity Index, February 06
The Chicago Fed National Activity Index for February 2006, published 22 March, was +0.32 in February, up from +0.28 in January.
New Fed governors sworn in
Kevin M. Warsh and Randall S. Kroszner were formally sworn in as members of the Board of Governors of the Federal Reserve System at a ceremony Thursday 23 March in the atrium of the Board's main building in Washington.
Philadelphia Fed's Stone to attend FOMC meeting
The Philadelphia Federal Reserve Bank's second in command will participate in the US central bank's policy meeting next week, stepping in for retiring President Anthony Santomero, a spokeswoman said on Wednesday 22 March.
Comment: The 'yield conundrum' revisited
Fed chairman, Ben Bernanke, made it clear in a speech earlier this week that he is no closer than his predecessor, Alan Greenspan, to making sense of the 'yield conundrum'.
SF Fed's Yellen on the U.S economy in 2006
In the speech 'The U.S economy in 2006' given on 15 March, Janet Yellen of the Federal Reserve Bank of San Francisco said the Federal Reserve Board's monetary policy is expected to be determined by economic data outcomes in the near term.
Fed's Spillenkothen to retire
Rich Spillenkothen, the director of the Division of Banking Supervision and Regulation, will retire on June 30 after thirty years of service with the Federal Reserve Board, including nearly fifteen years as the director of the division.
Bernanke on the yield curve and monetary policy
In the speech 'Reflections on the yield curve and monetary policy' given on 20 March Ben Bernanke of the Federal Reserve said the recent inversion of the yield curve is not a signal of a coming period of economic weakness.
G. William Miller led Fed in Carter years
According to this obituary published on Monday 20 March, former Federal Reserve chairman G. William Miller helped transform textiles company Textron Inc. into a global force, and was also active in civic life and political organisations.
Warsh, youngest-ever Fed governor
According to the article "Warsh, youngest-ever Fed governor, is also one of the richest" published Friday 17 March, Kevin Warsh, and his wife, an heir to the Estee Lauder cosmetics fortune, have at least $65.3 million in assets.
Approval of policy changes to Fed cash services
The Federal Reserve Board on Friday 17 March announced the approval of policy changes that seek to reduce the overuse of Federal Reserve Bank cash-processing services by providing incentives for depository institutions to recirculate currency among their…
Former Fed chairman G. William Miller dies
G. William Miller, a former Federal Reserve chairman, has died aged 81.
Bet on the Fed pausing at 5 percent
Federal Reserve officials seem more likely to pause in raising their target for the overnight lending rate when it reaches 5 percent than to push it up to 5.5 percent, according to this article published Wednesday 15 March.
Fed's Kohn on monetary policy and asset prices
In the speech 'Monetary policy and asset prices' given on 16 March Donald Kohn of the Federal Reserve said the Fed has no intention of preserving all of the recent gains in home price values.
Term structure transmission of monetary policy
According to this December 2005 Kansas City Fed Working Paper, the sensitivity of bond rates to macro variables appears to vary both over time and over forecast horizons.
Poole on recent developments in housing markets
In the speech 'Recent developments in housing markets: A national and local perspective' given on 8 March William Poole of the Federal Reserve Bank of St. Louis said the U.S. housing sector may already be cooling but it should level off at high levels…
Federal Reserve Board - Beige Book, March 2006
The Federal Reserve published its March 2006 Beige Book survey on 15 March. U.S. economic activity increased across the country in January and February, with businesses feeling continued input cost pressures, the report said.
Richmond Fed promotes branch officer
The Federal Reserve Bank of Richmond has announced that Steven T. Bareford has been named assistant vice president, Banking Supervision and Regulation, effective April 1, 2006.
Bernanke says derivatives make economy resilient
Federal Reserve Chairman Ben Bernanke said in a response made public on Wednesday 15 March to a senator's question that derivatives were being well-managed and had bolstered the US economy's resilience to shocks in recent years.
Liquidity provision in a model of payments
The Federal Reserve Working Paper "Alternative central bank credit policies for liquidity provision in a model of payments" explores alternative central bank policies for liquidity provision in a model of payments.
Fed's Olson: Are banks still special?
In the speech 'Are banks still special?' given on 13 March Mark Olson of the Federal Reserve said the line that divides banking from commerce is not a clear one and should be subject to "negotiated compromise" as markets and products change.
Comment: Yellen's 'long-run' inflation target
San Francisco Fed president, Janet Yellen, who has emerged as one of Ben Bernanke's strongest allies in the inflation targeting debate at the Fed, provided further insights into what she regards as the optimal design of such a framework in a speech on…
NY Fed welcomes derivatives commitments
The Federal Reserve Bank of New York said on Monday 13 March it welcomes the new commitments by 14 major market participants to continue their progress toward improving the infrastructure that supports the credit derivatives markets.
NY Fed's Geithner on U.S. monetary policy
In the speech 'U.S. monetary policy in the global financial environment' given on 9 March Timothy Geithner of the Federal Reserve Bank of New York said U.S. monetary policy may need to be tightened sufficiently to offset the downward pull on interest…