Federal Reserve System
The Region from the Minneapolis Fed December 2002
PUBLICATION - The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for December 2002. This issue includes an interview with the first deputy managing director of the IMF Anne O Krueger who discusses currency boards, the…
Olson on the importance of market structure
SPEECH - In the speech 'The Importance of Market Structure' Mark Olson of the Federal Reserve said the consolidation of banks and other types of financial institutions was one of the most notable features of the international financial landscape over the…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 12 December released the minutes of its FOMC meeting of 6 November. The minutes reveal last months half-point interest rate cut was taken "to ensure that the current soft spot in the economy would prove to be temporary"…
The Fed's only woman
ARTICLE - An interesting article published by the Buffalo News on Saturday gives an insight into Susan Schmidt Bies of the Federal Reserve Board. Among other things the article reveals Bies is a qualified soccer referee and at first qualified as a…
Friedman named as Bush's chief economic adviser
The White House on Thursday announced Stephen Friedman, the former chairman of Goldman Sachs, as chief economic adviser to president George W. Bush. He replaces Larry Lindsey who was a former Federal Reserve governor.
No need to raise bank insurance cap - Fed's Olson
Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.
Minutes show Fed worried over deflation
The Federal Reserve cut interest rates last month as extra insurance against deflation and the chance that the economy's stumble this summer could become something worse, according to Fed meeting minutes released on Thursday.
Spillenkothen on the lessons of Enron
SPEECH - In testimony 'Oversight of investment banks' response to the lessons of Enron' Richard Spillenkothen, Director, Division of Banking Supervision and Regulation said the fallout from the recent round of excesses and large corporate defaults…
Central Banker, Winter 2002
REPORT - The Winter 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on the new senior vice president in the Banking Supervision and Regulation Division at the St Louis Fed, Julie Stackhouse…
Federal Reserve leaves interest rates unchanged
As expected the Federal Reserve left interest rates unchanged on Tuesday at the FOMC's last meeting of 2002. The press release said the risks are balanced with respect to the prospects for both goals (price stability and sustainable economic growth) for…
Bernankeian Economics
ARTICLE - This article looks at Fed Governor Ben Bernanke's recent speech "Deflation: Making Sure "It" Doesn't Happen Here" and says it is one of most important speeches on Federal Reserve and monetary policy in the past fifteen years. The article…
Thinking about life after Greenspan
ARTICLE - America's interest rates came under the spotlight again on December 10th, when the Federal Reserve met for the last time this year. At the Fed, as well as at the Treasury department, attention is turning to regime change. This article…
Parry on the Federal Reserve in the economy
SPEECH - In the speech 'The Role of the Federal Reserve in the Economy' Robert Parry of the Federal Reserve Bank of San Francisco said that with the Fed's policy action in lowering the target interest rate by half a percentage point the prospects for…
Moskow on the economic outlook
SPEECH - In the speech 'Economic Outlook' Michael Moskow of the Federal Reserve Bank of Chicago said following the Federal Reserves recent half point interest rate cut that, the low-inflation environment has allowed us to maintain an accommodative…
Ferguson on Economic Progress and Small Business
SPEECH - In the speech 'Economic Progress and Small Business' Roger Ferguson of the Federal Reserve focused on economic status of minority Americans. He then turned to the role of small businesses in the US economy, drawing on research on small business…
Economic Perspectives, Fourth Quarter 2002
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Sorting out Japan's financial crisis'.
Kohn on the U.S. current account deficit
SPEECH - In the speech 'The U.S. Current Account Deficit' Donald Kohn of the Federal Reserve said the growing deficit in the US has come about because the United States has been an attractive place to invest and that US monetary policy will continue to…
Moskow on Perspectives on the Economy and Banking
SPEECH - In the speech 'Perspectives on the Economy and Banking' Michael Moskow of the Federal Reserve Bank of Chicago said that while the economy's road to recovery has been bumpier than expected the accommodative monetary policy stance the Fed has put…
Bernanke speech comments cause surprise
Ben Bernanke, newly-appointed Fed governor and an advocate of inflation targetting, has revealed the Fed's secret weapon in combating the perils of deflation: the printing press.
Santomero on the economic outlook for the US
SPEECH - In the speech 'Economic Outlook for the U.S. & Delaware' Anthony Santomero of the Federal Reserve Bank of Philadelphia said he believes the U.S. economy's future prospects are good and that the current moderately paced economic recovery will put…
Federal Reserve Board - Beige Book, November 2002
REPORT - The Federal Reserve Beige Book released 27 November said that the US economy's growth in late October and November, was slow, with business conditions across all districts soft and sluggish excluding housing. Capital spending was limited,…
US economy grew slowly in October, November
The U.S. economy remained sluggish in late October and early November, with districts cautiously optimistic about the outlook, the Federal Reserve revealed Wednesday in its regular Beige Book.
Santomero on Crises, Contagion, and Coordination
SPEECH - In the speech 'Crises, Contagion, and Coordination: Issues for Policymakers in the Global Economy' Anthony Santomero of the Federal Reserve Bank of Philadelphia said recent history provides many examples of events which have important economic…
Moskow expects US to hit growth potential in 2003
Michael Moskow has followed up Robert McTeer's comments we reported yesterday, saying the central bank's accommodative monetary policy will help US economic growth recover to full speed by next year. He is just the latest in a line of Federal Reserve…