Federal Reserve System
Fed and OCC act against Citigroup
US lender fined $400 million by OCC as regulators cite poor risk management
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
Should the ECB follow the Fed in adopting a dual mandate?
Current and former officials argue an expanded mandate could prove ineffective and compromise ECB’s independence
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Fed extends Covid-19 emergency measures
Lael Brainard is again sole vote in favour of outright ban on banks making dividend payments
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Covid-19 fails to interrupt asset diversification – survey
Lower yields remain the top worry of reserve managers in 2020, study finds
BoK launches facility to guard against dollar liquidity squeeze
South Korean central bank creates new facility to cut risk of dollar liquidity crisis, after extending Fed swap line
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
Fed presses ahead with financial inclusion reforms despite disagreement
OCC has already published a final rule and shows little sign of wanting to follow central bank’s approach
US citizens report better financial health than pre-pandemic
Financial wellbeing boosted by government support and return to work, central bank says
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
Diversification makes gold shine brighter – panellists
Negative sovereign yields boost gold’s attractiveness among reserve managers
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
Asian reserves proved more resilient in Covid crisis – reserve managers
Limited use of Fed’s ‘Fima’ facility highlights improved reserve management, says panellist
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Average inflation targeting could cut inequality – Fed paper
‘Hank’ models tend to be supportive of Fed’s new approach to inflation targeting, research finds
Covid-19 could depress growth for decades – Jackson Hole paper
“Pyschological scarring” could severely stunt future investment, researchers argue
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level