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Report
Stories of connecting
Every day, the people of the Boston Fed connect with their world and their region. From identifying trends in data to encouraging collaboration among key populations, Boston Fed employees bring unique backgrounds and talents to their work to better the economic conditions for all in our region and nation. Here, we share three stories of those connections.
Report
New England transformed
The feature essay of the 2010 annual report discusses some of the changes that have occurred in New England over the past four decades, comparing the challenges we faced in the mid-1970s with those we face today.
Report
Re-balancing act : global imbalances in a changing world
The world has been confronting unusually large current account imbalances for so long now that international policy makers have almost stopped warning that these represent a major risk to the world economic outlook. This essay featured in the 2006 annual report summarizes presentations and discussion at the 51st economic conference of the Federal Reserve Bank of Boston, ?Global Imbalances - As Giants Evolve,? which was held in June 2006.
Report
Retrospective on five years with the Boston Fed
This annual report focuses on the five years during which Richard F. Syron was president of the Boston Fed and on three issues in which Boston?s experience illustrates the important role played by regional Reserve Banks: monetary policy, banking regulation, and fair lending.
Report
Systemic supervision: a necessity of financial modernization
The world of financial services has changed rapidly in the past decade. The recent pace of innovation suggests that change could, if anything, accelerate in the coming years. Such an environment poses difficult challenges for financial industry supervisors, especially in addressing threats to the over-all stability of the financial system. Financial supervision in the United States has evolved in recent years to keep pace, but the coming, new environment may require an approach to supervision that more explicitly monitors the health of the financial system as a whole.
Report
Trade and growth in New England
From the time when New England timber built the British navy and Salem boys sailed ginseng root to China and returned as wealthy men, New England?s growth has been tightly linked with international trade. The ties are no less compelling today. Trade raises living standards by promoting the efficient use of resources and encouraging the adoption of new technologies and productivity improvements. New England is a region that specializes in new technologies, a region with limited natural resources, and trade is essential to its future well-being. However, like technological change, increased ...
Report
The procyclical application of bank capital requirements
Capital requirements have long been considered important to bank safety and the protection of the federal deposit insurance fund. But widespread banking problems and heavy losses to the deposit insurance fund have intensified the focus on capital. Supervisory agencies have become even more rigorous in applying and enforcing capital standards, imposing higher requirements on damaged banks. Furthermore, capital requirements have taken on greater significance as a result of a key provision of the recently enacted banking legislation, the Federal Deposit Insurance Corporation Improvement Act of ...
Report
Small steps in the right direction?: restructuring public education
When the term "knowledge-based economy" first entered popular discussion - sometime around the early 1980s - the focus was exclusively on scientific, technological, and business leadership. Only gradually did our society come to appreciate the pervasiveness of the knowledge-based economy. It affects not just the demand for high-level technical and entrepreneurial talent but, indeed, the job requirements for virtually all types of work. This growing realization has laid the foundation for broad-scale reforms of education in the United States and many other nations.
Report
The future of the skilled labor force in New England: the supply of recent college graduates
One of New England?s greatest assets is its skilled labor force, which has historically been an engine of economic growth in the region. But the skilled labor force of the future is growing more slowly in New England than in the rest of the United States.