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Overview: Mon, May 20

Daily Agenda

Time Indicator/Event Comment
07:30Bostic (FOMC voter)
Appears on Bloomberg television
08:45Bostic (FOMC voter)Gives welcoming remarks at Atlanta Fed conference
09:00Barr (FOMC voter)Speaks at financial markets conference
09:00Waller (FOMC voter)
Gives welcoming remarks
10:30Jefferson (FOMC voter)
On the economy and the housing market
11:3013- and 26-wk bill auction$70 billion apiece
14:00Mester (FOMC voter)
Appears on Bloomberg television
19:00Bostic (FOMC voter)Moderates discussion at financial markets conference

US Economy

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for May 20, 2024

     

    This week’s MMO includes our regular quarterly tabulations of major foreign bank holdings of reserve balances at the Federal Reserve.  Once again, FBOs appear to have compressed their holdings of Fed balances by nearly $300 billion on the latest (March 31) quarter-end statement date.  As noted in the past, we think FBO window-dressing effects are one of a number of ways to gauge the extent of surplus reserves in the banking system at present.  The head of the New York Fed’s market group earlier this month highlighted a few others, which we discuss this week as well.  The bottom line on all of these measures is that any concerns about potential reserve stringency are still a very long way off.

Education

Alan Greenspan

Thu, February 19, 2004

One effective tool that we have developed to facilitate the transition to a new job or profession has been our community colleges. These two-year institutions have been in the forefront of teaching the types of skills that build on workers' previous experiences to create new job skills. Currently almost one in three of their enrollees are aged thirty or older, a statistic that suggests that these individuals have previous job experience.

Alan Greenspan

Wed, December 10, 2003

In recent years, competition from abroad has risen to a point at which our lowest skilled workers are being priced out of the global labor market. This diminishing of opportunities for such workers is why retraining for new job skills that meet the evolving opportunities created by our economy has become so urgent in this country. A major source of such retraining has been our community colleges, which have proliferated over the past two decades.

Alan Greenspan

Tue, March 21, 2000

The marked move of capital from failing technologies to those at the cutting edge has quickened the pace at which job skills become obsolete. The completion of high school used to equip the average worker with sufficient skills to last a lifetime. That is no longer true, as evidenced by community colleges being inundated with workers returning to school to acquire new skills and on-the-job training being expanded and upgraded by a large proportion of American business.

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MMO Analysis