Federal Reserve System
Fed Reserve Bank of St Louis Review, May/June 2005
The latest edition of the St Louis Fed's Review for May-June 2005 includes the articles "Monetary policy and commodity futures" and "Using implied volatility to measure uncertainty about interest rates".
Greenspan on risk transfer and financial stability
In a speech on 'Risk transfer and financial stability' given on 5 May, Alan Greenspan of the Federal Reserve said the huge mortgage holdings of home finance giants Fannie Mae and Freddie Mac pose risks to the liquidity of the derivatives market where…
Philadelphia Fed Business Outlook Survey, Apr 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, April 2005, activity in the region's manufacturing sector continues to expand.
Fed's Roseman on developments in payment systems
In testimony on 'Recent developments in the payments system' given on 20 April, Louise Roseman of the Federal Reserve said the payments system in the United States is continuing to change and become increasingly efficient. However, the shift away from…
Fed's Ferguson on central banking in the US
In a speech on 'The evolution of central banking in the United States' given on 27 April, Roger Ferguson of the Federal Reserve said that central banking practice adapts over time as markets evolve and this had been the Fed's experience and would likely…
Fed's Ferguson on the US current account deficit
In the speech 'U.S. current account deficit: Causes and consequences' given on 20 April, Roger Ferguson of the Federal Reserve said that America's current account deficit does not mean the world economy is doomed because its root is likely the…
Fed's Kohn on imbalances in the US economy
In a speech on 'Imbalances in the US economy' given on 22 April, Donald Kohn of the Federal Reserve said the central bank would likely keep pushing US interest rates up at a "measured pace" to keep inflation under control.
Chicago Fed National Activity Index, Mar 2005
The Chicago Fed National Activity Index for March 2005 was +0.11, down from +0.22 in February. Three of the four broad categories of indicators that comprise the index made positive contributions last month, according to the CFNAI.
Fed's Gramlich on growing retirement costs
In the speech 'A first step in dealing with growing retirement costs' given on 21 April, Edward Gramlich of the Federal Reserve said the United States should remove a cap on wages subject to the Social Security payroll tax and raise the retirement age to…
Dilemma facing Southeast Asia's central banks
This article published on Thursday 21 April looks at the situation of Asian central banks. A cocktail of rising inflation, slower economic growth and "an aggressive" Federal Reserve is forcing local central banks to raise interest rates when their…
Fed's Greenspan on budget process reforms
In testimony on 'Budget process reforms' given on 21 April, Alan Greenspan of the Federal Reserve said huge budget deficits pose a danger to the nation's long-term economic health.
Fed's Bies on the economy and personal finances
In a speech on 'The economy and managing personal finances' given on 18 April, Susan Bies of the Federal Reserve said the US central bank must step up its vigilance against inflation but indicated that she believed "measured" interest-rate rises could…
Fed's Kohn on the economic outlook
In a speech on 'Economic outlook' given on 14 April, Donald Kohn of the Federal Reserve said bond buyers should beware of faster than expected interest rate increases.
St Louis Fed's Regional Economist, April 2005
The Regional Economist, April 2005 edition from the St Louis Fed includes the article "The trickle-down effect of Basel II" which says the new banking accord could make survival for some regional and community banks more difficult. Also included is "So…
Fed's Greenspan on consumer finance
In a speech on 'Consumer finance' given on 8 April, Alan Greenspan of the Federal Reserve said the success of financial services industries in expanding credit availability has significantly helped the U.S. economy.
Fed's Greenspan on energy
In the speech 'Energy' given on 5 April Alan Greenspan of the Federal Reserve said market forces could lead to a big enough increase in crude oil inventories to cool the recent "frenzy" that has sent prices to record highs.
Greenspan warns of risks from mortgage giants
In testimony on Wednesday 6 April Federal Reserve chairman Alan Greenspan called on Congress to curb the rapid growth of Fannie Mae and Freddie Mac, telling Senators this was vital to cut the risks the mortgage finance giants pose to the U.S. financial…
Fed's Bies on the Bank Secrecy Act and Basel II
In the speech 'Home Mortgage Disclosure Act, Bank Secrecy Act, and Capital Issues' given on 31 March Susan Schmidt Bies of the Federal Reserve said U.S. regulators are very sensitive to the competitive implications of having two sets of rules for the…
Fed's Bernanke on implementing monetary policy
In a speech on 'Implementing monetary policy' given on 30 March, Ben Bernanke of the Federal Reserve said it is in the Federal Reserve's best interest to communicate effectively with financial markets.
Chicago Fed National Activity Index, Feb 2005
The Chicago Fed National Activity Index for February 2005 was +0.37, up from +0.13 in January. All four broad categories of indicators that make up the index made positive contributions last month, according to the CFNAI.
Fed's Greenspan on empowering communities
In a speech on 'Empowering communities, attracting development capital, and creating opportunities' given on 18 March, Alan Greenspan of the Federal Reserve said better research is needed to gauge the success of programs that aim to lift communities out…
Philadelphia Fed Business Outlook Survey, Mar 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, March 2005, activity in the region's manufacturing sector continues to expand, but at a slower rate than in February.
St Louis Fed's Central Banker, Spring 2005
The St. Louis Fed's Central Banker magazine for Spring 2005 has been published. The latest edition contains an article which reports that for the first time in history, Americans are favouring electronic payments in greater dollar amounts than checking…
Fed's Bies on Bank Secrecy Act & compliance
In a speech on 'Bank Secrecy Act and capital compliance issues' given on 14 March, Susan Schmidt Bies of the Federal Reserve said US regulators are drafting new guidelines for banks to comply with a law to stop money laundering.