Federal Reserve System
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
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
Fed meets inflation surge with 75bp hike
Unexpected spike in inflation and expectations spurs committee into rare policy aggression
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021
Fed’s Waller believes US economy can handle several more rate hikes
Governor acknowledges uncertainties remain high amid Russian invasion of Ukraine
Fed and foreign investors earn lower returns on Treasuries, paper finds
Foreign investors tend to buy Treasuries when they are “expensive and offer low future returns”
Esther George to step down as Kansas City Fed president
George will retire in January on reaching retirement age, after 11-year tenure
Paper explains why ‘Fed put’ is not as reliable as investors might like
Disagreement between Fed and market can create perception central bank is “behind the curve”
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 hiring more staff to examine cloud providers
Regulator wants to put more “boots on the ground” at firms such as Amazon, Google and Microsoft
Fed’s Evans says front-loaded hikes are ‘pretty much in process’
Outgoing Chicago Fed president worries about uneven wage gains
Bernanke says Fed acted too slowly on inflation
Former Fed chair argues forward guidance hampered Fed’s response to rising prices
New York Fed’s Logan picked for Dallas Fed president
Appointment triggers controversy over failure to appoint a Hispanic candidate
US Senate reappoints Powell as Fed chair
Appointment comes as Powell’s approval rating in polls falls to lowest point in his career
Shadow banks: the biggest threat to US financial stability?
Non-bank risks may be the greatest problem facing the Fed’s incoming vice-chair for supervision
Fed paper examines non-bank emergency facility
More flexible investors tapped facility earlier, doing more to stabilise markets
Lisa Cook becomes first Black woman to serve as Fed governor
Confirmation vote in US senate was split down party lines