Federal Reserve System
UN body warns central banks could set off global recession
UNCTAD report calls for price controls rather than rate hikes
US and Korea agree to set up liquidity facilities if necessary
It is still unclear whether the facilities would involve a currency swap line
Colombia orders ninth consecutive rate increase
Inflation rises above central bank projections as finance minister expresses frustration
Regional Fed presidents signal resolve and acknowledge recession risks
Fed’s Collins, Mester, Bullard, Evans, Kashkari and Daly speak on the path ahead for policy
The risks of a simultaneous and rapid global tightening
Economists call for a more co-ordinated and gradual increase in interest rates
Some new monetary frictions
Negative net interest is set to hit Fed earnings with monetary and fiscal policy implications
Rate rises reveal defi weaknesses – Powell
Regulating algorithms highlighted as key crypto challenge at Banque de France conference
Inflation: what went wrong, and why?
Charles Goodhart and Manoj Pradhan detail three theories on the causes of high inflation, as well as their implications for policy responses
People: new climate risk officer at OCC, Sama hires CBDC head, and more
Saudi Central Bank names CBDC director; Dominican Republic and Tunisia announce senior appointments
Book notes: 21st century monetary policy, by Ben S Bernanke
Bernanke’s great book offers important insights for today’s policy-makers, writes Stephen Poloz
Fed raises interest rate 75bp for third time
Powell reiterates pledge to “keep at it” until inflation is back to 2%
Fed paper explores rate hike impact on money markets
Monetary tightening likely to impact flows in and out of Fed’s overnight repo facility
US CBDC research ‘could take years’, says Treasury
Report weighs design choices that could underpin digital dollar
US needs tighter policy, former senior Fed adviser says
Higher rates will cause little damage to supply chains, David Wilcox argues
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Summers and Krugman see no alternative to ECB tightening
Despite lack of overheating, huge energy shock requires action to anchor inflation expectations
Fed’s QT will be more complex this time, official says
Overnight repurchase liabilities make up a larger portion of balance sheet than before
US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
Fed’s Waller: rates could go ‘well above’ 4%
Governor projects “significant” September hike and says it is “too early” to judge inflation drop
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
The Central Bank of Morocco governor speaks with Christopher Jeffery about Covid-19 policies, Fed tightening, BIS membership, regional co-operation and financial inclusion
US will take ‘some time’ to decide on CBDC, Powell says
Fed chair says it must act to prevent inflation expectations rising
Cyber induced bank runs pose “huge risk”, says Richmond Fed’s Barkin
Banks lack proper cyber security metrics and should learn from other firms, argues senior Fed official
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate put pressure on divided governing council