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The Financial Markets Center provides research and education resources to citizen organizations, policymakers, scholars and journalists interested in central banks and the financial sector. The materials at this website include analytical reports, data sets, teaching tools and an extensive archive of Federal Reserve records.
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Tracking the FOMC: June 2008. The Federal Open Market Committee held its policy rate at a low two percent and signaled that inflation pressures have supplanted risks to economic growth as its main concern. Go to Fed At A Glance for current information and background on monetary policy.
What They're Saying: June 23, 2008. FMC's website offers one-stop viewing of Fed officials' speeches and testimony. The most recent inventory includes links covering the period May 1-June 25, 2008.
Household Financial Conditions: June 19, 2008. As housing and financial markets continued to erode, household net worth shrank during the first quarter of 2008 -- the second consecutive quarter of decline and a telling consequence of the asset bubbles and busts that have characterized U.S. economic activity of the past decade. Click here for the details and here for complementary information on the business and foreign sectors.
Beige Book Highlights: June 11, 2008. Despite accomodative monetary policy, economic activity continues to slow across the U.S. Click here for highlights of the central bank's main survey of regional economic conditions and here for additional Beige Book resources.
FOMC Forecast: May 21, 2008. In the third edition of its expanded economic forecast the Federal Open Market Committee drastically reduced its February 2008 projection for GDP growth over the remainder of 2008. And once again, as noted in FMC's summary, the Committee highlighted downside risks to its forecast, citing "adverse interactions" between sluggish economic activity and deteriorating financial conditions as a "worrisome possibility." Click here for more material on Fed forecasts.
Jane D'Arista Conference: May 2008. On May 2-3 the Political Economy Research Institute at the University of Massachusetts hosted a conference on "The Political Economy of Monetary Policy and Financial Regulation" honoring FMC Director of Programs Jane D'Arista. Click here for presentations and more information.
15 Years of Discount Activity: January 20, 2008: From 1993 through 2007, the Federal Reserve's 12 District Banks asked the Board of Governors to raise its discount rate two and half time more often than they requested rate cuts. FMC's analysis looks at the hawks, the doves, the periods of peak policy activism and the discrepancies between Reserve Bank presidents' discount rate recommendations and FOMC policy votes.
Fed Governors' Financial Disclosures: October 11, 2007. Confirmation of President Bush's two newest appointees to the Fed's Board of Governors would significantly widen an already large wealth gap between America's top economic policymakers and average U.S. households. Click here for FMC's ninth annual analysis of financial reports by the governors and here for additional information, including Schedule A of the Fed officials' disclosure statements.
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