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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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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.
Tracking the FOMC: April 2008. The Federal Open Market Committee reduced its policy rate by another 25 basis points but also softened its warnings about risks to economic growth and took a wait-and-see position with respect to additional rate cuts. Go to Fed At A Glance for current information and background on monetary policy.
What They're Saying: April 29, 2008. FMC's website offers one-stop viewing of Fed officials' speeches and testimony. The most recent inventory includes links covering the period March 19-April 30, 2008.
Beige Book Highlights: April 16, 2008. Despite accomodative monetary policy, the economy continues to weaken 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.
Household Financial Conditions: March 25, 2008. As housing and credit markets continued to absorb damage in the final quarter of 2007, virtually all of FMC's indicators of household financial conditions declined -- in some cases substantially. Click here for the details and here for complementary information on the business and foreign sectors.
FOMC Forecast: February 2008. In the second edition of its expanded economic forecast the Federal Open Market Committee significantly downgraded its outlook for GDP growth and employment in 2008. As noted in FMC's summary the Committee also highlighted downside risks to its forecast, calling "adverse interactions" between sluggish economic activity and deteriorating financial conditions "an especially worrisome possibility." Click here for more material on Fed forecasts.
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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