Federal Reserve System
Only Fed could respond to fresh downturn, Axel Weber says
Most central banks have no room for manoeuvre, says former Bundesbank president
Tighter US capital ratios eased inequality – Bundesbank paper
Richer households’ incomes fell while Fed’s easing cushioned effects on middle and low earners
Fed launches banknote app for children
App provides details of security features, mimicking raised intaglio print through vibrations
Establishing the Fed worsened the Great Depression – St Louis Fed paper
Setting up lender of last resort reduced banks’ incentive to manage risk, paper argues
Fed diversity is focus of new legislation
New bill would ensure at least one gender- and one ethnically-diverse candidate are interviewed for vacant president roles
Powell urged fast end to QE despite signs of taper tantrum
Jerome Powell sensed taper tantrum was a risk, but urged then-chair Ben Bernanke to act anyway, transcripts show
People: RBNZ completes senior team shake-up
Chief information officer and two new assistant governors round out RBNZ reshuffle; Bolivian central bank hires vice-president; regional Fed boards for 2019 unveiled
Federal Reserve profits fall as normalisation takes hold
The Fed remittances to US Treasury fell by 18.5% from last year
Fed can afford to be patient as global growth forecasts decline, says Clarida
Fed vice-chair says labour market is at full employment and inflation remains on target
Fed’s Quarles outlines ‘building block approach’ to insurance regulation
Regulator chose not to copy and paste banking sector regulations onto insurers, says vice-chair
Fed taking cautious stance on rate path
Incoming Fed officials signal there may be a rate-hike pause
Yellen ‘greatly concerned’ over regulation reversals
Fed unveils proposal for relaxing stress test requirements
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana
NY Fed’s Williams advocates change to inflation-targeting framework
But Don Kohn prefers to keep status quo with some supplementary policies
Powell sends cautious message to markets
Bernanke says he and Yellen “very lucky” to have served under presidents who respected Fed independence; Powell pledges not to step down
US interbank market may not recover from QE – Fed paper
Authors warn shrinking the Fed balance sheet might not be enough to revive the market
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
Fed independence under renewed fire from Trump
President unlikely to be able to fire Jerome Powell but could exert pressure in other ways, say observers
2018: The year in review
The past year marked a return to instability, but also saw some innovations among central banks
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
US regulators find ‘shortcomings’ in foreign bank living wills
Banks will have to correct the problems when they next file a resolution plan
Fed goes ahead with fourth hike of 2018
Policy-makers vote for hike despite volatility, but dovish language suggests growing caution
Fed’s communications may outweigh rate changes – Bundesbank paper
Researchers look at impact of Fed announcements and policy changes from 1994 to 2008
Yield curve inversions may become more frequent, researchers say
Richmond Fed study examines relationship between term premium and yield curve inversion