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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.

Medicare

Alan Greenspan

Wed, February 16, 2005

I'm...of the belief that we probably ought not to address the medical issue quite yet until we get very far - much further down the road in the advance in information technology in the medical area...So I think that people who are saying we ought to do Medicare first before Social Security because it's a much bigger problem - I agree, it is a hugely much more difficult problem but I'm not sure I would agree with the issue of the sequence wholly because of the nature of what's now occurring in medicine.

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MMO Analysis