Federal Reserve System
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy Native American and African-American populations
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
Fed to expand paycheck liquidity facility after criticism
Some observers say Paycheck Protection Program not reaching most affected firms
Fed’s balance sheet increases by 50% since March
Total assets now just shy of $6.4 trillion, a new record high
Fed banks ramp up Covid-19 surveying
Real-time and weekly surveys reveal deepening economic fallout
Fed paper examines drivers of US leverage
Economic growth can be major influence even without loose monetary policy, researchers say
Bank of Korea expands lending in new emergency measure
Bank of Korea will lend to insurers and brokers as well as banks in bid to avoid funding squeeze
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Fed eases capital restriction on large US banks
US repo rates stray into negative territory as investors make massive flight to safety
Accounting for losses during a pandemic
US banks get green light from senators to use loan loss accounting methods widely criticised following 2008 crisis
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Fed opens dollar funding to majority of central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action
Fed selects BlackRock to manage asset purchases
Fed taps into firm’s experience in corporate debt management in move reminiscent of 2008 crisis
Fed’s balance sheet could see massive further growth
Response to coronavirus has already pushed Fed’s holdings up to record levels
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis