The idea of creating a framework for explicit inflation targeting in the U.S. has recently become a topic of considerable discussion. The key question is: Could inflation targeting improve on the U.S. economy's performance? President Anthony Santomero thinks inflation targeting makes sense for...

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...

U.S. consumers are catching up with their counterparts in the rest of the world in their use of electronic payment methods, but paper checks remain a popular way to make payments here. How is the Federal Reserve supporting an orderly evolution of the payment system as consumers shift away from...

How does a decentralized central bank work? The events of September 11 put the Federal Reserve System, the central bank of the United States, to the test and highlighted the benefits of its geographic diversification. In "The U.S. Experience with a Federal Central Bank System," President Anthony...

In his first column, President Santomero talks about "New Beginnings" by introducing himself to the Business Review audience and by listing some of the challenges facing the Philadelphia metropolitan area and some options for dealing with them

In the first article this quarter, President Anthony Santomero asks: What is the root of the corporate governance problems that have recently gained the spotlight? Is it the mega-merger frenzy of the 1980s? Overly optimistic forecasts of earnings? Innovations in the financial services industry?...

What happens when an academic researcher becomes a policymaker? Recently, President Anthony Santomero shared some thoughts on this topic with members for the Downtown Economists Club in New York City. In particular, he talked about several conundrums he's encountered since moving from the...

As technological advances continue to expand the range of financial services available to consumers, money management becomes increasingly complicated. Helping consumers navigate this sea of financial products is important. When households are capable of building wealth, they are also capable of...

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.

Does Philadelphia have what it takes to expand economic growth and attract more people? It's a challenge, says President Anthony Santomero in "Forces Shaping Philadelphia's Future." The city has many things to recommend it as a location. Nevertheless, it has faced some difficulties in...