The world has been confronting unusually large current account imbalances for so long now that international policy makers have almost stopped warning that these represent a major risk to the world economic outlook.

The essay featured in the 2006 annual report summarizes presentations and discussion at the 51st economic conference of the Federal Reserve Bank of Boston, "Global Imbalances − As Giants Evolve," which was held in June 2006.

Complete Report (2.5MB)

Contents

• Letter from the President
• Feature Essay:
  Re-Balancing Act: Global Imbalances in a Changing World
  by Jane S. Little
• 2006 Bank Highlights
• The Bank in the Community
• Board of Directors
• Advisory Council Members
• Senior Officers
• Officers by Department
• Financial Statements