Search Results
Conference Paper
Alternative monies and the demand for media of exchange
Conference Paper
The market's evaluation of bank risk: a methodological approach
Journal Article
Process and progress in risk management
President Anthony Santomero discusses three points: risk management as its own distinct discipline; the financial industry's work to improve risk-management techniques and regulators' increased commitment to risk-focused examinations; and the need to improve risk-management systems even further.
Journal Article
Monetary policy: stability through change.
The recent business cycle has been driven by two forces: a series of extraordinary events and some longer term secular trends. In "Monetary Policy: Stability Through Change," President Anthony Santomero discusses how these extraordinary events, including the bursting of the tech bubble, the aftermath of 9/11, the wars in Afghanistan and Iraq, and the corporate accounting and governance scandals, have affected the U.S. economy. He then turns his focus to the longer term trends, including rapidly changing technology and the increasingly integrated global marketplace, which he expects to be ...
Journal Article
Preparing for the 21st century economy.
After 30 years of university teaching and almost five years as a Reserve Bank president, Anthony M. Santomero knows the importance of education to a well-functioning economy. In recent years, he has seen several broad, long-term trends emerge-trends that will undoubtedly shape our environment and our economic fortunes. In "Preparing for the 21st Century Economy," he talks about two trends he deems to be of particular importance. First is the steady increase in international trade that has spilled over from the second half of the 20th century into the new millennium. Second is the ...
Journal Article
What monetary policy can and cannot do
President Santomero reviews both the areas of agreement and those open to debate and offers his perspective on them. He concludes with some thoughts about the implications for the conduct of monetary policy.
Journal Article
Making monetary policy: what do we know and when do we know it?
President Anthony Santomero points out that conducting a successful monetary policy presents real-world challenges, such as evaluating where the economy is, where it is going, and where it should be going. But how do monetary policymakers make decisions about the economy in a world with imperfect information? Santomero discusses how policymaking is affected by both the availability and reliability of economic information. He concludes that given the information constraints policymakers face, the challenges of setting monetary policy will not go away, so we must find a way to meet them
Journal Article
A farewell from President Santomero
President Anthony M. Santomero reflects on the economic challenges and changes during his tenure as president over the past six years and summarizes some of the Bank?s accomplishments.
Journal Article
The changing patterns of payments in the United States
President Anthony Santomero highlights the differences between U.S. and European payments infrastructure; discusses how the roots and evolution of the U.S. payments system differs from Europe?s; and outlines the likely path of the U.S. payment system and the Fed?s role in it. In the end, he observes, the two systems will look more alike, but they?ll get there from very different starting points.