Federal Reserve System
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Fed’s QT reaches maximum as critics warn of stability risks
Former RBI governor Rajan and co-authors argue QT may pose risks for financial stability
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
FedNow scheduled for mid-2023 launch
Bowman and Brainard see CBDC substitution and cloud technology advantages
US household debt rising across the board
Delinquencies for subprime loans are approaching their pre-pandemic proportion
Powell promises ‘forceful’ action to reduce inflation
Fed chair warns against premature loosening and says cutting inflation “will take some time”
Inflation targeting’s time may be over, Adam Posen says
Posen says changes to global economy may necessitate complete rethinking of monetary policy
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
Fed issues guidance for banks using crypto assets
Federal Reserve seeks more disclosure from banks holding crypto
Housing affordability dropping across the US
Fed’s large rate hikes and constrained housing supply create tough market for buyers
Fed paper explores information problems in financial panics
Tight liquidity can cause investors’ beliefs to become “systematically divorced from fundamentals”
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Fed governors still talking tough on inflation
Lower inflation expectations and CPI come as positive signals for the path ahead
People: Pimco re-hires Fed’s Clarida
Burundian president replaces central bank chief; Israeli research chief stepping down
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg