Federal Reserve System
Fed adviser sets out new equilibrium rate model
Long-term interest rates are more important for spending decisions, author claims
Atlanta Fed tackling commercial banking compliance
Article sheds light on Fed’s approach to supervising smaller institutions
Book notes: The other half of macroeconomics, by Richard Koo
Richard Koo questions whether central bank policy can work during a balance sheet recession, writes Graham Bannock
Brainard sees room for continued tightening over next two years
But some economists expect growth to slow over the coming year
Bernanke: household borrowing not the main factor in 2008 crash
Panic in financial markets and not household borrowing created deep crisis, former Fed chair says; economists should emphasise credit when modelling
Lender of last resort is not enough, says Geithner
There is a lot of “magical thinking” about what central banks can do, says former US Treasury secretary
Odds increasing for rate hike at September FOMC meeting
US economy is strong enough to merit a further rate increase, Richmond Fed president says
Fed’s Rosengren sees less room to tackle next recession
Fiscal, monetary and regulatory buffers are not as high as they should be, says Boston Fed president
US may be over natural unemployment rate – Atlanta Fed president
Raphael Bostic estimates natural employment “is in the 4.2–4.3% range right now”
St Louis Fed’s Bullard thinks Fed should hold
Flatter yield curve and moderate inflation in US suggest monetary policy shouldn’t be tighter, president says
Fed paper presents method to better estimate systemic risk
Authors find their approach outperforms several commonly used systemic risk indicators
Inattention helps explain flat Phillips curve – Fed paper
Inflation may be less sensitive to shocks because people are not paying attention, authors say
Flatter US yield curve may not herald a new crisis – San Francisco Fed
The curve inversion has not materialised, while low long-term yields may be related to quantitative easing
Policymakers should focus on slack even amid uncertainty – Fed paper
“Standard advice” from the literature may be flawed under current conditions, authors warn
Clarida confirmed as Fed vice-chair
US Senate approves appointment with 69 votes in favour, 26 against and four abstentions
Passive investing boosts some risks and cuts others – Fed paper
Authors assess four ways the surge in passive investing might impact stability
Powell warns not all US problems can be solved by Fed
Fed chair implicitly defends monetary policy in face of Trump’s attacks
Senior Fed officials split over the state of US job market
Regional presidents and FOMC members see US under, approaching or beyond full employment
People: Chinese and Turkish central banks each gain new deputy governors
Bank of England director to lead Irish central bank financial stability department; and more
Trump says Federal Reserve should give him ‘some help’
US President says central bank should hold policy rates while he negotiates trade deals
Fed may have to speed up rate rises, Australian governor warns
Philip Lowe says fiscal stimulus could lead to US inflation growing faster than expected
BdF paper looks at ‘hawks, doves and swingers’
Education and economic conditions at birth shape the views of FOMC members, argues the paper
Atlanta Fed estimates US GDP growth remains above 4%
Economy expanded by 4.1% in Q2, in strongest performance since mid-2014
Next financial crisis “will be brewing” in shadow banking – Bullard
Silicon Valley disruption represents threat to financial stability; Fed has limited powers to counter it despite FSOC and tough new bank rules, says Eighth District president