Federal Reserve Bank of St Louis
St Louis Fed’s Bullard thinks Fed should hold
Flatter yield curve and moderate inflation in US suggest monetary policy shouldn’t be tighter, president says
Next financial crisis “will be brewing” in shadow banking – Bullard
Silicon Valley disruption represents threat to financial stability; Fed has limited powers to counter it despite FSOC and tough new bank rules, says Eighth District president
Tariffs unlikely to have lasting impact on US economy – Bullard
Disruption of global supply chain could be biggest risk of trade dispute to date, says St Louis Fed president
James Bullard on 2% rates, tariffs and Fed leadership
The president of the Federal Reserve Bank of St Louis speaks about the impact of US trade policies, the disruption to the banking industry from Silicon Valley, shrinking the Fed balance sheet and the potential for agent-based modelling
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
Oil exporters present higher risk of default, researcher says
Researcher says 27 out of 35 oil-exporting countries defaulted on their debt between 1979 and 2010
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
The hunt for a crypto taxonomy
Cryptocurrency, crypto asset, crypto token – or something else? Finding the right term helps shed light on the structure of the fast-growing crypto market
Public should be allowed to open accounts with central banks – research
St Louis Fed paper argues against central banks launching full-blown digital currencies, but says an electronic form of central bank money “would be easy to implement”
Economics profession needs women – San Fran Fed director
Economics facing crisis as policy continues to be made by men, says research director; young female economists should consider male counterparts as role models too
We don’t need cryptocurrencies – former St Louis Fed economist
Current payment infrastructure and physical cash already provide the benefits offered by cryptocurrencies, says Stephen Williamson
Lower unemployment may not create inflation, Bullard says
The relationship between employment and prices has changed, warns US policymaker
St Louis Fed explains Fed’s plans to unwind balance sheet
Fed expected to stop replacing maturing securities to reduce $4.5 trillion balance sheet
Bullard: low unemployment does not mean high inflation
Recent research shows US unemployment could fall to 2.5%, while inflation would be 1.86%, says St Louis Fed president
Bullard raises concerns about east coast dominance of the Fed
St Louis Fed president is not worried about the major shake-up of the board of governors; points to reducing the influence of the New York Fed on the FOMC
St Louis’s Bullard on the future of the Fed and its monetary policy record
St Louis Fed president James Bullard rails against east coast dominance, favours aspects of the Choice Act and says Fed monetary policy was a “factor” that fuelled crisis
Fed needs quarterly monetary policy report, Bullard says
St Louis president argues for better Fed communication when it comes to monetary policy decisions; a quarterly report would align the US with international best practice
St Louis Fed president may support rate increase
Bullard cautions future real interest rates likely to stay flat; says Trump administration can only alter low interest rate environment by improving productivity
St Louis Fed chief says election has not changed near-term outlook
Bullard hints at support for “single policy rate increase”; says changes to fiscal and regulatory regimes likely from 2017 and to immigration and trade policy in longer term
Harnessing growing data volumes: The St Louis Fed
Huge demand for macroeconomic data that is easily accessible, international and granular is driving the rise of this global data hub. Daniel Hinge meets the Fred team
BIS paper examines impact of money market deregulation and integration
Integration of money markets and ability of banks to raise funds using variety of substitutable instruments has implications for monetary policy, paper says; deregulation results in larger open market operations
Bullard backs new approach to forecasting
Idea of economy converging to a single steady state has “likely outlived its usefulness”, St Louis Fed president says; instead reserve bank will now focus on regime-based forecasts
Bullard challenges ‘backward-looking’ language in Fed statement on goals
James Bullard reveals he disagreed with an element of the Fed’s statement on longer-run goals, believing it failed to capture the importance of future expectations to inflation targeting
Economists challenge foundations of monetary economics
‘Neo-Fisherian’ approaches use standard New-Keynesian models to show that cutting interest rates will produce lower, not higher, inflation – and the result is surprisingly difficult to overturn