Articles by Riley Steward
Fed raises rates 25bp and signals possible halt soon
Credit tightening may substitute for further rate hikes, Powell says
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
US banking collapses muddy monetary policy outlook
Bank failures raise question of whether Fed can maintain stability while tightening policy
US housing prices are moderating, says Fed chair
But other indicators show need for tighter policy, says Jerome Powell
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Disinflation may trigger recession, say Mester and Jefferson
Fed president and governor acknowledge policy tightening is uncertain and costly
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Fed officials say rates may have to rise despite CPI fall
Harker, Bowman, Williams and Logan sound hawkish notes in speeches
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”
US jobs report comes in hot
San Francisco Fed president says the number is unsurprising
Fed slows tightening cycle again with 25bp rate rise
More rate hikes likely as Powell expresses concern over expectations “getting unanchored”
Fed moves to ban state banks from holding crypto as principal
Supervisors outline plan for “level playing field” between state and national banks
Canadian governor rules out early rate cuts
Macklem says bar for rate rises has risen and he cannot rule out “mild recession”
Fed rate-setters differ over US labour pressures
Waller says labour market is tight, but Brainard says no sign of overall wage pressure
Fed begins climate risk assessments for largest lenders
Six largest US banks must assess exposure to physical and transition risks by July 31
Federal Reserve chair Powell infected with Covid-19
Illness means he may not be able to attend next rate-setting meeting in person
There’s work to be done on RTGS contingencies
Central bankers from Canada, Thailand, Singapore and Brazil discuss RTGS backup planning, including how redundancy, cost and complexity prevent central banks from operating more contingency sites
Fed slows rate rises with 50bp increase
Powell stresses possibility of soft landing supported by “structural labour shortage”
Inflation falls more than expected ahead of Fed meeting
Inflation expectations also drop, prompting calls for caution from the Fed
Fed policy roundtable II: recession risk and sticky inflation
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
Tight policy, T-bills and Basel III affect normalisation, say researchers
Increased use of reverse repo has implications for quantitative tightening, NY Fed study says
Fed policy roundtable: inflation targeting, asset purchases and uncertainty
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…