A reprint of an address given by the Federal Reserve Bank of Cleveland President, outlining a four-point program to refocus bank regulations to a market-based system that would result in improved bank safety, soundness, and stability, with less dependence on the federal safety net.

A discussion of the rapidly increasing use of derivative financial instruments, contending that these contracts represent innovations in risk management, not in risk itself, and will lead to enhanced wealth and more efficient risk management without the need for special regulation or legislation...

An argument by Federal Reserve Bank of Cleveland President Jerry Jordan that the proper focal point of public policy is not creating jobs but creating wealth, thus allowing for the highest standard of living.

A discussion of Americans' skepticism about the government's ability to keep inflation in check, emphasizing the real economic costs of this attitude entails and the ways in which Congress, the Federal Reserve, and the White House can help.

A prediction by Cleveland Federal Reserve Bank President Jerry Jordan that in the coming years, bank regulatory agencies will make greater use of market forces to discipline individual banks' behavior and will pay more attention to the functioning of the financial system as a whole.

An argument that the central bank should adopt a policy of price stability based on an explicit objective for the Consumer Price Index, which the Cleveland Fed President believes would provide a nominal anchor for the dollar as well as a clear standard by which to measure the success of monetary...

The present information technology revolution offers a great opportunity to take a leap forward in our collective prosperity. All of us stand to benefit. But some will take to the revolution more easily than others, a lesson that policymakers have learned from previous experience. This Economic...

What implications do 21st century monetary innovations bring for holdings of central bank money and standards of value? Emerging technologies such as cybercash, e-cash, and smart cards can be expected to reduce demand for central bank money, but the theoretical framework for monetary policy has...

How can Mexico best achieve a stable standard of value and, hence, sound money? Mr. Jordan, president and chief executive officer of the Federal Reserve Bank of Cleveland, explored this question in his address to the DUXX Graduate School of Business Leadership at its Forum on Public Policy in...

An explanation of how Mexico could further enhance its recent economic progress by implementing the provisions of NAFTA--unilaterally, if necessary--and by following through on its initiative to make its central bank autonomous.