Federal Reserve Bank of New York
SNB carries out first tokenised monetary policy operation
Central bank issued $72 million in bonds on DLT settled in wholesale CBDC
Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
New York Fed paper argues for wage insurance
The programme would pay for itself and increase lifetime earnings, researchers say
Saudi Central Bank joins mBridge
Cross-border CBDC project with China, Hong Kong, Thailand and the UAE opens up further to private sector
Cecilia Skingsley on monetary policy tech and a unified ledger
Head of the BIS Innovation Hub speaks about tokenisation, CBDCs and the ‘black box problem’ in AI
Short- and long-term US inflation expectations rise
Home price expectations also tick upwards as the last mile of inflation proves difficult
People: January to March 2024
A round-up of central bankers in the news and on the move during the past three months
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
Stablecoins show ‘flight to safety’ dynamics – NY Fed paper
Researchers argue these runs on stablecoins could cause wider financial instability
Current US wage trends may be here to stay – NY Fed research
Researchers present new tools for predicting wage growth in US
Monetary policy more effective when inflation is high – NY Fed
Study casts doubts on linear models that average out impact during periods of high and low inflation
Racial wealth disparities in US ‘have accelerated post-Covid’
Research attributes gap to kinds of assets typically held by white, Black and Hispanic investors
US loan delinquency rates ‘rising across the board’ – NY Fed
Rising household debt burden ‘merits monitoring’ in months ahead
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
Local preferences affect US bank lending to minorities – research
Ethnic minorities’ credit access is affected by stakeholders, NY Fed paper finds
Fed paper presents new way to measure consumer welfare
Consumer preferences change in line with incomes, researcher argues
People: Egyptian president extends acting governor’s term
BCIE elects first woman president; Esquivel joins Sheinbaum team; and more
Treasuries market is robust, NY Fed officials tell conference
Financial markets need more data transparency, though
Somalia’s Abdullahi on the challenges of re-integration with the international system
The Central Bank of Somalia governor speaks about capacity building, reintroducing the shilling, securing donor support and climate change
‘Buy now, pay later’ may target the financially fragile – NY Fed
Researchers warn sector may not be resilient
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Inflation revisions are significant, finds NY Fed research
Understanding inflation in real time poses major difficulties, researchers say
US wage expectations rising, says NY Fed labour market survey
Both lowest acceptable transitionary wage and expected salary hit series highs
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay