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The Federal Reserve Board yesterday proposed that it halt the processing of bearer or paper bonds and coupons for depository institutions by the end of 2005, claiming the service will [...]

The article focuses on the evolution of paper money in Texas. It states that in 1837, the first Republic of Texas paper notes were issued and that the first issues were called Star notes for its single star print. It mentions that counterfeiting issues were raised as the result of the single-sided design and poor print quality of the paper money issued during the ten years of the Republic. It also presents the establishment of the Federal Reserve Bank System in 1913.

"The US' indirect supply-chain links to China remain intact; along some dimensions - through China's economic ties with Vietnam and Mexico - these indirect links have even been intensifying", Alfaro and Chor wrote. (Bloomberg) -- China remains embedded in US supply chains even as American firms have taken steps to reduce direct imports from the Asian country, according to a paper presented at the Federal Reserve Bank of Kansas City's annual Jackson Hole conference Saturday. [Extracted from the article]

Kganyago Says Job "Not Yet Done" to Defeat Inflation (11:20 a.m. NY) South Africa's central bank governor warned that there are still risks to inflation, even as he acknowledged that the rate has come down significantly. (Bloomberg) -- Escalating federal borrowing needs may worsen structural deficiencies in the market for US Treasuries that were already on stark display during the 2020 Covid crisis, according to a paper presented to the Federal Reserve Bank of Kansas City's economic symposium. In a speech earlier, Fed Chair Jerome Powell said the US central bank is prepared to raise interest rates further if needed and intends to keep borrowing costs high until inflation is on a convincing path toward the Fed's 2% target. [Extracted from the article]

(Bloomberg) -- Central bank interest-rate increases have a substantial impact on innovation, which in turn can affect the productive capacity of an economy, according to a paper presented at the Federal Reserve Bank of Kansas City's symposium. In a speech earlier, Fed Chair Jerome Powell signaled the US central bank is prepared to raise interest rates further if needed and keep borrowing costs high until inflation is on a convincing path toward the Fed's 2% target. Bullard, who resigned last month to become dean of Purdue University's business school, was an influential voice at the Fed who called for aggressive interest-rate hikes to fight the recent inflation surge. [Extracted from the article]

The article provides insights into the production methods of modern U.S. paper money as described in a 1965 issue of Coins magazine. It highlights the detailed process of creating currency notes, from the design stage and steel engraving to ink mixing, paper preparation, and printing using flat power-plate printing presses, emphasizing the advancements in anti-counterfeiting measures and the cost-efficient production methods utilized.

The Federal Reserve Bank of Kansas City's annual conference in Jackson Hole, Wyoming has begun, bringing together central bankers, economists, and reporters from around the world. The keynote speech by Chair Jerome Powell on Friday will be of particular interest, as investors and Fed watchers look for signals about the timing, size, and pace of interest-rate cuts. Other notable speakers include Andrew Bailey, head of the Bank of England, and a panel discussion featuring central bankers from Brazil, Norway, and the European Central Bank. The conference will also feature presentations of research papers by economists. [Extracted from the article]

Barclays Plc has become the first bank to issue commercial paper tied to the new benchmark that's been designed to succeed Libor in the dollar funding market. "Investor response was immediate, and fairly broad across different types of investors", Joe Muscari, head of securitized portfolio management at Barclays, said about the bank's commercial paper deal. [Extracted from the article]

The Federal Reserve Bank of Kansas City's annual economic symposium in Jackson Hole, Wyoming has concluded. Fed Chair Jerome Powell's speech confirmed expectations for an interest-rate cut at the central bank's next meeting in September. Powell expressed confidence in inflation reaching the Fed's 2% goal but acknowledged a cooling in the labor market. Other central bankers, including the Bank of England Governor and members of the European Central Bank's Governing Council, also signaled support for interest rate reductions. The conference featured academic research papers on the effectiveness and transmission of monetary policy, with one paper highlighting the potential impact of further labor market cooling on the US unemployment rate. [Extracted from the article]

The article reports on the plan of the Federal Reserve Banks in the U.S. to terminate checks and replace it to electronic payment. According to the statement of the Federal Reserve Banks that it will take more aggressive actions in changing the transition to electronic payment. It notes that the Electronic Check Clearing House Organization (ECCHO), a nonprofit national check clearinghouse owned by almost 30,000 member financial institutions is against the replacement of check system.

A new research paper from the Federal Reserve Bank of Atlanta argues that the final phase of the US inflation fight will not be more difficult than previous phases. The paper suggests that the Federal Reserve does not need to approach the final phase differently from the rest. While Fed officials expect three rate cuts in 2024 as inflation falls, they have pushed back against expectations of immediate interest rate cuts. The Atlanta Fed economist warns that excessive concern over the final phase could lead to a policy error and increase the risk of a recession and unemployment. [Extracted from the article]

The U.S. experience of unconventional monetary policy has shown that it can successfully influence market expectations for bond yields, according to a working paper published on Monday by the European Central Bank. Those measures "helped create a favorable environment for long-term funding", had a considerable impact on asset prices, and substantially lowered the cost of market financing, the ECB paper showed. [Extracted from the article]

Auction preview Both popular and scarce, Federal Reserve Bank Notes occupy an interesting niche in American financial history. In addition to the Federal Reserve Bank Notes in this sale are War of 1812 notes, Gold Certificates, and National Gold Bank Notes. One highlight from that grouping is a 1918 $50 Federal Reserve Bank Note issued from St. Louis, the only district bank of 12 in the country to emit that denomination. [Extracted from the article]

The article discusses the release of a public consultation paper which outlines the new direction of the U.S. payment systems by the Federal Reserve Banks. It states that the new payment innovation will coordinate the changes both as payment systems operator and regulator. It highlights the four parts of the consultation paper including the problems in the existing system, desired outcomes and problem for the U.S. payment systems.

Investors will parse his highly anticipated speech for clues on the outlook for interest rates, which the Fed in July lifted to a range of 5.25% to 5.5%, the highest level in 22 years. (Bloomberg) -- The Federal Reserve Bank of Kansas City's annual gathering in Jackson Hole, Wyoming gets underway with a dinner on Thursday evening. [Extracted from the article]

The article reports on the debate over the proposal by the U.S. administration to expand the eligibility provisions of the Federal Reserve Act in 1931. Government securities, paper arising from actual commercial transactions and agricultural paper are qualified for rediscount at the Federal Reserve banks under the current law. This strict limitation is aimed at protecting reserves. The major types of business seeking eligibility for their paper include those in the area of installment selling, real estate and corporate securities.

The tenth annual financial stability conference, organized by the Federal Reserve Bank of Cleveland and the Office of Financial Research, explored challenges stemming from both short- and long-term risks to financial stability. The conference, which focused on frontier risks, a new normal, and policy challenges, featured both academic papers and panels on macroprudential and monetary policy, financial institutions, and financial markets; paper presentations; and remarks from three speakers. This Economic Commentary summarizes the academic papers and keynotes from the conference., The recent failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank exposed both the rapidly evolving threats to financial stability stemming from changing fiscal, monetary, and regulatory policies and [...]

(All times New York) Furman Says Fed Should Raise Inflation Goal (3:02 p.m.) The Fed and other central banks should consider declaring victory on their price-stability goals once inflation returns to 3%, Harvard economics professor Jason Furman said Friday during the Fed's annual conference in Jackson Hole, Wyoming. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. Many central banks, including the Fed, have adopted a 2% inflation target in recent decades. [Extracted from the article]

Many central banks, including the Fed, have adopted a 2% inflation target in recent decades. Keywords: 13347Z; BSFO; ALLTOP; BON; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; US; WORLD; WWTOP EN 13347Z BSFO ALLTOP BON BUSINESS COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL US WORLD WWTOP RH8KI3T1UM10 "I think 2% inflation was too low a target. [Extracted from the article]

Keywords: 13347Z; BSFO; ALLTOP; BON; BUSINESS; COS; FIN; FRX; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 13347Z BSFO ALLTOP BON BUSINESS COS FIN FRX GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH8JZAT0AFB5 "I want to push back on your conclusion that "running the economy hot" entails significant risks", Kashkari said to International Monetary Fund First Deputy Managing Director Gita Gopinath, who made the assertion as a panel participant. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. Bullard Says Rates Working With Shorter Lags (9:40 a.m.) The Federal Reserve's rate hikes are working at shorter lags than in the past, said St. Louis Fed President James Bullard. [Extracted from the article]

The article reports that instalment companies' eligibility petition at the U.S. Federal Reserve Banks may lead to inflation. Inflation requires using more money or credit actively and thus help improve business, however, an increase in credit is much more favored than an increase in currency. The notes which the finance companies have bid for eligibility are those of the companies, which lend their proceeds to instalment buyers.

The article focuses on the significance of the raising of the Federal Reserve Bank of New York rediscount rate in 1923 to the general money market. The principle behind the law of rediscount banking is mentioned. There was an increase in the market for acceptances and commercial paper as a result of the rate change. A 5% rate is said to be necessary to maintain Bank rate above market rate for paper.

In December, a special committee of Stanford's Board of Trustees initiated a review into allegations of misconduct related to Tessier-Lavigne's research and papers he authored or coauthored. As a prominent scientist, Tessier-Lavigne was previously tapped for the board of Pfizer Inc., several other pharmaceutical companies and the Federal Reserve Bank of New York. (Bloomberg) -- Marc Tessier-Lavigne, who resigned as president of Stanford University after questions arose about in his scientific research, is also leaving the board of Regeneron Pharmaceuticals Inc. Tessier-Lavigne, a neuroscientist who became Stanford's president in 2016, stepped down from the board of the biopharmaceutical company effective Sept. 1, the company based in Tarrytown, New York, said Friday. [Extracted from the article]

Several high-level central bank officials spoke at the forum about monetary policy, including Federal Reserve Bank of St. Louis President James Bullard -- who appeared remotely -- and Taiwan central bank Deputy Governor Chen Nan-kuang. (Bloomberg) -- Taiwan's top government-funded research institute has called on the central bank to overhaul some of its long-held approaches to foreign exchange and monetary policy as part of a landmark set of recommendations. The government should draw lessons from the US Federal Reserve system to improve the independence and transparency of the central bank, according to a white paper released by Academia Sinica on Monday. [Extracted from the article]

The article reports on a 2013 $2 "Double Deuce Set" issued by the U.S. Bureau of Engraving and Printing, which features a Series 2003A $2 note from the Federal Reserve Bank of Kansas City and a Series 2009 $2 note from the Federal Reserve Bank of San Francisco.

The article discusses various aspects of economic conditions in the U.S. It is stated that easy money policy of Federal Reserve Banks is being neutralized short-term financing policy of the Treasury. It is stated that the low interest rates for short term paper/bonds for the more immediate maturities indicate that the banks and other financial institutions have ample funds.

The article reports on the U.S. Federal Reserve Board's making of time-payment paper or installment credit eligible for rediscount. The meaning of "commercial transaction" was liberalized by the Reserve's decision that consumer credit extended for the purpose of goods distribution is a business loan and thus eligible for rediscount at Federal Reserve banks. Effects of finance company notes' parity with commercial loans are explored, such as the improvement of installment paper as a bank risk.

Furman Says Fed Should Raise Inflation Goal (3:02 p.m.) The Fed and other central banks should consider declaring victory on their price-stability goals once inflation returns to 3%, Harvard economics professor Jason Furman said Friday during the Fed's annual conference in Jackson Hole, Wyoming. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. [Extracted from the article]

Bullard's paper didn't get into details of how the Fed could achieve a GDP target, though missing the target would imply a need for more stimulus, he told reporters. Bullard has sometimes used research to influence the Fed policy debate, though he cautioned against drawing strong policy lessons from his latest work and instead said he hoped for more research on the topic. Bullard joined the St. Louis Fed's research department in 1990 and became president of the regional bank in 2008. [Extracted from the article]

The article profiles Laurence Frederick Whittemore, president of the pulp-and-paper firm Brown Co. and former president of the New York, New Haven & Hartford Railroad. His uncle and aunt helped him through Pembroke Academy in New Hampshire after he was orphaned at the age of seven. Whittemore has managed Fellows & Sons from 1922 to 1925. He was also named president of the Federal Reserve Bank of Boston in Massachusetts in 1946.