Federal Reserve Bank of Kansas City

Thomas M. Hoenig, President, Federal Reserve Bank of Kansas City

Speeches by President Thomas M. Hoenig: The U.S. Economic Outlook: The Aftermath of Leverage (January 7, 2009)

Global Financial Crisis and the Regulatory Environment: Where Do We Go From Here? (November 17, 2008)

The Financial Crisis and the Regulatory Environment (October 13, 2008)

Recent Speeches

Biographies

Economic News
	Agricultural Credit Survey
	Beige Book
	FOMC Announcements
	Interest Rates
	Manufacturing Survey
	Subprime Loan Reports

Ben S. Bernanke, Chairman Offsite Link

Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System

Speech by Chairman Ben S. Bernanke,
The Crisis and the Policy Response, at the Stamp Lecture, London School of Economics, London, England. January 13, 2000

The Beige Book
Overall economic activity continued to weaken across almost all of the Federal Reserve Districts since the previous reporting period. (January 14, 2009)

Federal Reserve announces results of auction of $150 billion in 28-day credit held on January 12, 2009
Additional information about the Term Auction Facility. (January 13, 2009)

Innovative Financial Services for the Underserved: Opportunities and Outcomes
The 6th Biennial Community Affairs Research Conference will explore the role of innovation in expanding financial services to low- and moderate-income individuals, families and communities. Washington D.C., April 16-17, 2009.

Fourth Quarter Economic Review
In the midst of unprecedented changes in the U.S. payments landscape, is it time to reevaluate the Federal Reserve's role? (December 2008)

TEN Magazine
The latest issue, "Revenue stream," is made up of feature stories that highlight Bank research and practices through the experiences of everyday people from around the Tenth District, ranging from outdoor enthusiasts in Colorado to busy employees at Lueder Construction Company in Omaha. (January 7, 2009)

2009 Seasonal Credit Applications Now Available
Institutions may obtain longer-term funds from the Discount Window so they may carry fewer liquid assets the rest of the year and make more funds available for local lending. (January 7, 2009)

Briefing Article: International Remittances
This article describes some of the means by which individuals remit funds internationally--informal networks, money transfer operators, financial institutions and other options--and discusses some of the factors that may influence the choice of provider. (January 5, 2009)

Research Working Paper: Spin-offs: Theory and Evidence
This paper provides a "passive learning" model of firm entry by spin-off and predicts a high correlation between spin-offs and parent exit. The theoretical findings are tested and confirmed on a unique data set of the U.S. automobile industry. (December 31, 2008)

Research Working Paper: Why Do Card Issuers Charge Proportional Fees?
This paper explains why payment card companies charge consumers and merchants fees which are proportional to the transaction values instead of charging a fixed per-transaction fee. (December 31, 2008)

Research Working Paper: Product Innovation and Firm Survival in A Network Industry
This paper studies product innovation and network survival in the U.S. ATM/debit card industry. (December 31, 2008)

Research Working Paper: The Economics of Two-Sided Payment Card Markets: Pricing, Adoption and Usage
This paper provides a new theory to explain pricing, adoption and usage in two-sided payment card markets. (December 31, 2008)

"Is Rural America Facing a Home Price Bust?"
	This issue of The Main Street Economist investigates recent trends in home prices in rural America, explains why rural areas so far aren't experiencing the bust that is plaguing many cities, and lays out future risks to rural home values. (December 31, 2008)

FOMC Statement
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent. (December 16, 2008)

The Money Museum
	The Federal Reserve Bank of Kansas City's Money Museum is an interactive experience that explores the economy and the role of the Federal Reserve. Special tours and programs are available for groups and classrooms. More information is available at the museum's website. Tours of the Bank's Denver Branch are also available.