Also, we get more data on manufacturing from both the Richmond and Dallas Fed surveys.
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Richard Fisher, the president of the Dallas Fed, puts it down to his state's particularly effective regulation.
Dallas Fed President Richard Fisher will also speak on the country's economic challenges in Grapevine, Texas, Tuesday.
But talk about the administration's influence is overblown, says former Dallas Fed President (and Forbes.com contributor) Bob McTeer.
This week, there is a pretty full calendar, starting on Monday with the Dallas Fed Manufacturing Survey.
Meanwhile, Dallas Fed Bank President Richard Fisher said in an interview with CNBC that he favored slowing asset purchases.
On the plus side, the Dallas Fed Manufacturing Survey was strong, as were durable goods, which were up 5.7%.
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On tap for Monday is the data on personal income and outlays, along with the Dallas Fed Manufacturing Survey.
On the positive side, durable goods orders and the Dallas Fed Manufacturing Survey were both considerably better than expected.
This week, we will get a full slate of new data on the economy, starting with the Dallas Fed Manufacturing Survey on Monday.
On Monday, we have the Chicago Purchasing Managers report and the Dallas Fed survey, followed on Tuesday by the widely watched ISM Manufacturing Index.
The week starts off with a bang on Monday as we have the personal income and savings numbers, pending home sales, and the Dallas Fed Manufacturing Survey.
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This week we have a full slate of economic reports starting on Monday with the Durable Goods Orders, Pending Home Sales, and the Dallas Fed Manufacturing Survey.
As was expected before the FOMC meeting, Richard Fisher of the Dallas Fed, Narayana Kocherlakota of the Minneapolis Fed, and Charles Plosser of the Philly Fed dissented with Bernanke.
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William White of the Dallas Fed has argued powerfully that not only is this time not being used well, but that ultra-low interest rates may ultimately make the problem worse.
"It'll be like being able to keep Paulson around a little longer from the president's point of view, " says Robert McTeer, a former president of the Dallas Fed who has worked with Geithner.
Back in the olden days when I ran the Dallas Fed, we had an extensive outreach program for economic education, including seminars for teachers who taught economics in high school, often without much training themselves.
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In addition, during this time, we started to hear more and more hawkish commentary coming out of the Fed as folks like Dallas Fed President Richard Fisher began to publicly lament about the prospects for inflation.
Before I became Dallas Fed president in February 1991, I was only vaguely aware of the Jackson Hole confab even though I had been a senior official of the Richmond (and Baltimore) Fed for several years.
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That sign, a replica of an Irish road sign, was given to me by a colleague, Mark Wynne, who took my place in a forthcoming speaking assignment in Ireland when I retired from the Dallas Fed in November 2004.
After 36 years in the Federal Reserve System, including almost 14 years as president of the Dallas Fed and a member of the Federal Open Market Committee, I'm astonished at how far this Fed has gone beyond what had been normal, prudent central bank practices.
In the last week or so it has been that the Empire State (NY area) Mfg Index, the Philadelphia Fed Index, and the Dallas (Texas area) Fed Index, plunged dramatically in May.
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Growth was moderate or modest in all of the Fed's 12 banking districts, and it accelerated in two New York and Dallas from January and early February.
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