Federal Reserve System
Experts divided over Fed’s ‘intermediated’ approach to CBDC
Observers praise the Fed’s conservative pace but criticise aspects of its hypothetical system design
Fed chair makes case for renomination
Powell needs 50 votes and may need at least three Republicans to side with his reappointment
Biden nominates three to Fed board
Republican senator signals likely opposition to president’s pick for top supervisor
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Fed’s Clarida resigns after latest trading revelations
Vice-chair departs 17 days early after new disclosures about equities sales
Fed’s Clarida reveals large pre-pandemic equities trades
Departing vice-chair files amended disclosure forms, reigniting criticism of Fed leaders
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Afghanistan’s frozen assets trigger controversy as harsh winter looms
Cash that is “desperately needed” by ordinary Afghans remains frozen in overseas central bank accounts
Fed’s Waller says federal funds rate should rise soon after QE ends
Fed governor hints at tighter policy and offers lessons from the pandemic
US FSOC zeroes in on climate change
Annual report warns “disorderly” policy changes raise the risk of “sudden and disruptive” effects
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Omarova ends bid for OCC job
Biden nominee faced Republican charges of radicalism and alienated some Democrats
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
BIS and Fed launch New York ‘innovation centre’
Fed has mandate to “understand and, in some cases, manage” technological change, says Jerome Powell
Fed's monetary policy ‘spillbacks’ have significant effects – ECB paper
Researchers estimate how impact of Fed policy on foreign economies in turn affects US
US agencies conduct ‘policy sprints’ to tackle crypto risks
Approach modelled around “tech sprints” aims to get results quickly
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Riksbank opens review of board members’ stock holdings
Investigation will assess whether officials violated “rules of conduct”
Fed and ECB officials point to different policy directions
US officials see a rate hike in 2022 as increasingly likely, while eurozone governors rule that out
US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market