New stuff at www.fmcenter.org, the Financial Markets Center web site: * Greenspan, Social Security and Public Fund Management. Pension expert Teresa Ghilarducci explains what Chairman Greenspan's missing when he critiques public pension fund investing. And FMC provides a revealing look at the Fed's own retirement fund - a government pension plan that's achieved financial success with heavy asset allocations in equities and unique investment restrictions that include a broad social screen for stocks. Source documents posted to the Center's web site include current investment guidelines for the Fed's retirement plan. * March 17 edition of Beige Book Review and Analysis. Dean Baker's same-day analysis finds key discrepancies between the Fed survey and other government reports on employment and earnings. * Alan Greenspan, Lame Duck? Next June will mark the first time a Fed chairman's term expires on the eve of a presidential contest between two non- incumbent candidates. FMC looks at the history and the election-year possibilities. * IRS Ruling. In response to a request from the Financial Markets Center, the IRS has ruled that tax-exempt organizations do not engage in prohibited political activity - and therefore do not jeopardize their 501[c]3 status - by promoting candidates for Federal Reserve Bank directorships. COMING THE WEB SITE NEXT WEEK: The inaugural edition of FLOW OF FUNDS REVIEW AND ANALYSIS by Jane D'Arista. www.fmcenter.org
