Federal Open Market Committee (FOMC)
Fed’s Evans and Bullard downplay recession risks
Both presidents looking to increase the policy rate to around 3.5% by the end of the year
Fed finds major banks able to withstand ‘severe recession’
All banks pass stress test despite tougher scenario than in 2021
Bank of Mexico orders largest-ever rate hike
Mexico matches Fed as inflation continues well above target
Brazil’s MPC continues hikes, but slows pace
Central bank orders eleventh consecutive increase, and says it expects more, but smaller, rises
Hong Kong and Taiwan raise rates
HKMA raises rates by 75bp, but local banks don’t follow, while Taiwan increases by 12.5bp
Gulf central banks raise rates after Fed hike
Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp
US inflation expectations inch higher
New York Fed survey finds rise in expectations at one-year horizon, but not at longer term
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Fed’s favoured inflation gauge falls
PCE inflation reading for April 2022 was down from March
Esther George to step down as Kansas City Fed president
George will retire in January on reaching retirement age, after 11-year tenure
Fed nominee Barr plans to re-evaluate capital and liquidity rules
Proposed vice-chair for supervision sees limited role for Fed in tackling climate change
Fed’s Evans says front-loaded hikes are ‘pretty much in process’
Outgoing Chicago Fed president worries about uneven wage gains
US Senate reappoints Powell as Fed chair
Appointment comes as Powell’s approval rating in polls falls to lowest point in his career
Lisa Cook becomes first Black woman to serve as Fed governor
Confirmation vote in US senate was split down party lines
US Senate confirms Lael Brainard as Fed vice-chair
Key senator absences create roadblock for Lisa Cook’s nomination
People: Chicago Fed’s Evans to retire
Bulgarian parliament rejects governor pick; political heat on Cook still high as vote nears; and more
Chile central bank board adopts code of conduct
Regulations include anti-drug measures and trading restrictions
Biden nominates Barr for Fed supervision post
Previous nominee Sarah Bloom Raskin withdrew in March after Republican attacks
Fed mulls tightening on scale not seen for decades
FOMC members now contemplating 50bp rate hikes and major asset sales
Inflation is more painful for the poor, says Brainard
Fed official joins wider discussion about measurement and impact of inflation
Fed’s asset selloff may start in May, Brainard says
FOMC minutes show consensus for “balance sheet runoff at a coming meeting”
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Powell: ‘nothing’ in the way of a 50bp rate hike
Fed chair is hoping to even out supply and demand imbalances in the labour market
Fed’s Bostic: uncertainty is hallmark of current economy
Atlanta Fed chief sees myriad forces pushing up inflation, but warns Fed may still tighten too fast