“The Atlantic Council and Zurich Insurance Group (Zurich) have released a pioneering report, Beyond Data Breaches: Global Interconnections of Cyber Risk, to better prepare governments and businesses for the cyber shocks of the future. Through a combination of stable technology, dedicated technicians and, resistance to random outages, the Internet has been resilient to attacks on a day-to-day basis, creating an extended period of prosperity. Yet, as we approach nearly absolute dependence on the Internet, cyber attacks of the future can and will affect globally interconnected systems like electrical grids and worldwide logistics systems. This Internet of tomorrow will be a source of global shocks for which risk managers, corporate executives, board directors, and government officials are not prepared…Recommendations to be resilient to cyber shocks include:

  • Putting the private sector at the center of crisis management, since government management of cyber risk lacks the agility needed
  • Developing plans within organizations that have system-wide responsibility that ensure the stability of the system as a whole, rather than risks to an individual organization
  • Creating redundant power and telecommunications suppliers and alternate ISPs connect to different peering points
  • Investing in trained teams ready to respond with defined procedures
  • Conducting simulations of the most likely and most dangerous cyber risks to better prepare.”

Summary of Commentary on Current Economic Conditions by Federal Reserve District - Prepared at the Federal Reserve Bank of Richmond and based on information collected before April 7, 2014. This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.

“Reports from the twelve Federal Reserve Districts suggest economic activity increased in most regions of the country since the previous report. The expansion was characterized as modest or moderate by the Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco Districts. Chicago reported that economic growth had picked up, and New York and Philadelphia indicated that business activity had rebounded from weather-related slowdowns earlier in the year. The Cleveland and St. Louis Districts both reported a decline in economic activity. Consumer spending increased in most Districts, as weather conditions improved and foot traffic returned. Auto sales were up in the New York, Philadelphia, Richmond, Atlanta, Chicago, Minneapolis, and San Francisco Districts, but they were little changed from a year earlier in Kansas City and Cleveland. In addition, assessments of tourism were generally positive, particularly for the Districts of Philadelphia, Richmond, and Minneapolis, where ski resorts had record seasons. Summer bookings were also solid in several Districts. Activity was mixed at non-financial services firms, with the Boston, Philadelphia, Minneapolis, and Kansas City Districts reporting increased demand. In the Boston District, for example, advertising and consulting were strong. The Richmond District indicated that revenues at non-retail services firms were flat, and St. Louis said firms’ planned activity declined on net.”

The Distribution of Household Income and the Middle Class

April 16, 2014

CRS – The Distribution of Household Income and the Middle Class. Craig K. Elwell, Specialist in Macroeconomic Policy, March 10, 2014 “The shape of the income distribution is not itself a subject of legislation, but Members of Congress appear to consider it in their decision-making process concerning a number of policy issues such as taxes, means-tested benefits, and […]

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The Bureau of Prisons: Operations and Budget

April 16, 2014

CRS - The Bureau of Prisons (BOP): Operations and Budget. Nathan James, Analyst in Crime Policy, March 4, 2014 “The Bureau of Prisons (BOP) is the largest correctional agency in the country, in terms of the number of prisoners under its jurisdiction. The BOP must confine any offender convicted and sentenced to a term of imprisonment in a federal court. Changes in federal criminal […]

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New York City Adds 30,000 Photos to Online Gallery

April 16, 2014

“The New York City Department of Records and Information Services, announced the addition of 30,000 photographs to its on-line gallery. The new additions consist of pictures drawn from the Municipal Archives vast holdings and include 187 historical pictures from the New York City Police Department’s (NYPD) Alien Squad.” “Welcome to the New York City Municipal […]

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Banking union: restoring financial stability in the Eurozone

April 16, 2014

Press release (includes charts and graphs): “Since the crisis started in 2008, the European Commission has worked hard to learn all the lessons from the crisis and create a safer and sounder financial sector. The Commission has proposed 28 new rules to better regulate, supervise, and govern the financial sector so that in future taxpayers […]

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Recent Trends in Federal Home Loan Bank Advances to JPMorgan Chase and Other Large Banks

April 16, 2014

Federal Housing Finance Agency Office of Inspector General, Evaluation Report, EVL-2014-006, April 16, 2014.  Recent Trends in Federal Home Loan Bank Advances to JPMorgan Chase and Other Large Banks. “The Federal Home Loan Bank System (System) is comprised of 12 regional Federal Home Loan Banks (FHLBanks) and the Office of Finance. The FHLBanks make secured loans, known as advances, to […]

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Tax burdens on labour income continue to rise across the OECD

April 16, 2014

“Personal income tax has risen in 25 out of 34 OECD countries over the past three years, as countries reduce the value of tax-free allowances and tax credits and subject higher proportions of earnings to tax, according to new data in the annual Taxing Wages publication. The increases in tax burdens on labour income in 2013 were largest […]

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New GAO Reports – DoD Contracting, Foreign Aid, NASA, Environmental Policy Act

April 16, 2014

ARMY MODULAR FORCE STRUCTURE: Annual Report Generally Met Requirements, but Challenges in Estimating Costs and Assessing Capability Remain, GAO-14-294:  Published: Apr 16, 2014. Publicly Released: Apr 16, 2014. DEFENSE CONTRACTING: DOD’s Use of Class Justifications for Sole-Source Contracts, GAO-14-427R: Published: Apr 16, 2014. Publicly Released: Apr 16, 2014. FOREIGN AID: USAID Has Increased Funding to Partner-Country Organizations but Could Better […]

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PRA publishes information on data collection requests relating to life and general insurance firms

April 16, 2014

“The PRA has updated its website with information about data requests that will be sent to a number of life and general insurance firms in 2014- 2015 to support preparations for, and the transition to, Solvency II. The PRA will send the first data request directly to all firms in early May 2014. The deadline for […]

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The Economic Importance of Women’s Rising Hours of Work

April 15, 2014

Eileen Appelbaum, Heather Boushey, and John Schmitt |April 15, 2014: “Over the past three decades, there has been a steady rise in the share of women, especially mothers, in the workforce. As indicated by the data, the majority of women and mothers work, and many work full time and full year. This dramatic increase in women’s […]

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Vital Signs: Births to Teens Aged 15–17 Years — United States, 1991–2012

April 15, 2014

Morbidity and Mortality Weekly – April 11, 2014 / 63(14);312-318: ”The U.S. teen birth rate has continued to decline, from 84.1 births per 1,000 teens aged 15–19 years in 1991 to an all-time low of 29.4 in 2012 (1). Despite this trend, approximately 305,000 infants were born to teens aged 15–19 years in 2012 , and […]

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