United States
Rationale for transparency in central banking
SPEECH - The vice chairman of the Federal Reserve, Roger Ferguson, in a speech on central bank transparency, said that a transparent central bank will not always make its decision widely predictable.
Fed seeks female governor for board-Reuters
UNITED STATES - The Bush administration is seeking women and bankers to fill two empty posts on the powerful seven-member Fed Board of Governors, Reuters reports on Apr 18.
Fed surprises by reducing rates to 4.5%
UNITED STATES - The US Federal Reserve on Apr 18 continued its agressive easing of monetary policy by cutting interest rates by 0.5% for the fourth time this year.
Financial innovation and monetary transmission
CENTRAL BANK RESEARCH - On April 5-6, the Federal Reserve Bank of New York organized the conference "Financial Innovation and Monetary Transmission." The twelve papers presented at the conference cover many topics including the "announcement effect",…
US economy appears to be stabilizing-Fed's Hoenig
UNITED STATES - The U.S. economy is showing signs of stabilizing and will likely pick up speed in the second half of 2001, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Apr 12.
US Fed decision are 'market driven'-Tietmeyer
UNITED STATES - The US Federal Reserve must take care not to allow its policy decisions to be market driven, former Bundesbank president Hans Tietmeyer told the Apr 12 edition of German financial magazine Focus Money, according to an early release of the…
Fed spied on employee's emails-investigator
UNITED STATES - An investigator looking into an unusual labour dispute at the Federal Reserve Board has found credible evidence that Fed managers snooped on the e-mail correspondence of an office secretary and fired her when she considered starting a…
US is not in recession, says US Treasury O'Neill
UNITED STATES - The U.S. economy continues to expand moderately, successfully skirting recession, and in fact doing remarkably well in terms of providing job opportunities, Treasury Secretary Paul O'Neill said on Apr 9.
Greenspan's hero image 'is a liability'
UNITED STATES - The Financial Times on Apr 10 reports that Alan Greenspan's heroic image poses a liability for markets. The article is based on a report by UK economist Marcus Miller which was presented at the Royal Economic Society's annual conference…
Financial education should begin early-Greenspan
UNITED STATES - Consumers should become familiar with the basics of personal finance at a relatively young age, Federal Reserve Chairman Alan Greenspan said on Apr 6 in remarks that did not touch on the U.S. economy or monetary policy.
Ferguson on the monetary transmission mechanism
SPEECH - Fed vice chairman Roger Ferguson gave a speech on Apr 5, 2001 titled "Understanding Financial Consolidation" - a speech that he has already given three times this year. It is based on a study, commissioned by the G10 and directed by Ferguson,…
Role of research in the policy process-Gramlich
SPEECH - US Federal Reserve governor Edward Gramlich gave a speech on Apr 5, 2001, about the usefulness of private sector research into financial services for helping the Fed measure up and assess how well its laws and regulations are achieving their…
Financial stability, deflation, & monetary policy
CENTRAL BANK RESEARCH - This working paper by Federal Reserve Bank of Richmond economist Marvin Goodfriend explores the relationship between financial stability, deflation, and monetary policy.He says that monetary policy is a fundamental source of…
'Does Money Matter?' by US Fed Governor Meyer
SPEECH - US Federal Reserve Board governor Laurence H. Meyer gave an excellent and wide-ranging speech on Mar 28, 2001 titled "Does Money Matter?". He says monetarism supeficially appears to play no role in the conduct of monetary policy in many…
When is US bank lending to emerging mkts volatile?
CENTRAL BANK RESEARCH - In a New York Fed staff report, Linda S. Goldberg, finds out what causes fluctuations in lending by US banks to emerging markets. Goldberg finds the most important influence is the state of the US economy - when US growth is…
Financial mkt implications of the US debt paydown
CENTRAL BANK RESEARCH - The dwindling supply of US treasuries is worrying not only the financial markets but also Federal Reserve chairman Alan Greenpsan, one of the reasons he has given his support for Bush's $1.6 trillion tax cuts. In a New York Fed…
Role of subordinated debt in market discipline
IMF RESEARCH - This new working paper by the IMF puts the last nail in the coffin regarding the use of mandatory subordinated debt in enhancing market discipline in emerging markets. It says the preconditions for its success are not fulfilled in emerging…
BoK criticises govt for interfering in mon policy
SOUTH KOREA - The Bank of Korea has criticized the government for its regular interference in the country's monetary polices.
US Fed urges bankers to disclose more
SUPERVISION - In an advisory letter on Mar 23, 2001, the Federal Reserve Board urged large banking organizations to adopt a high-level, private-sector working group's recommendations for broader and more frequent public disclosures as a way to improve…
Fed survey: US banks growing wary of lending
UNITED STATES - A special survey conducted by the Federal Reserve reveals that credit terms from US banks have continued to tighten since January
How Greenspan measures the e-economy
SPEECH - speaking on March 27 Fed chairman, Alan Greenspan revealed some of the Fed techniques for modelling and measuring the hi-tech sectors of the US economy
Euro drop in 2000 was normal dip - Fed's Poole
EUROPE - The euro's weakness against the dollar last year was a "perfectly normal" dip of a sort which all currencies suffer from time to time, Federal Reserve Bank of St. Louis President William Poole said on Mar 27, 2001.
US economists quarrel with Fed rate stance-NABE
UNITED STATES - A survey of the Federal Reserve's policies over the past six months showed that a growing number of US economists fear the central bank has not cut interest rate cuts enough.
Bank Capital Regulation: Literature Review-Santos
ARTICLE - "Bank Capital Regulation in Contemporary Banking Theory: A Review of the Literature" is a new article in the journal Financial Markets, Institutions & Instruments, Volume 10: Issue 2, by Joao A. C. Santos at the New York Fed. This paper reviews…