Federal Reserve System
Fed hikes another 25 basis points
Hike comes as US inflation runs at target, and emerging markets complain of funding squeeze; Powell reveals change to communications approach
People: US Senate committee approves two Fed governors
Philippines appoints monetary board member; Cleveland Fed appoints director at Pittsburgh branch
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say delegates attending Nalm Americas
Creating a diverse workforce isn’t easy – San Fran Fed’s Daly
Improving diversity in the research department has taken concerted effort, says Mary Daly
Is the US dismantling Dodd-Frank?
Richard Heckinger asks whether recent amendments to the Dodd-Frank Act amount to technical tweaks or full-scale rollback
Dudley says more effort needed in modelling financial factors
“We were nowhere. Now we’re probably at the first or second grade,” says outgoing New York Fed chief
Chilean deputy points to US inflation as biggest risk
US growth is broadly positive, but sustained wage growth could drive up rates causing sharp portfolio outflows from emerging markets; Chile relatively well positioned
Federico Sturzenegger on Argentina’s efforts to create a credible central bank
The Central Bank of Argentina governor, in his last interview before leaving office, speaks about panic in emerging markets, the IMF bailout, and bringing to an end high inflation and monetary financing
Brainard says yield curve inversion may not presage recession
Flatter yield curve “may temper somewhat” fears of a coming recession, says governor
Fed and other US regulators call for major changes to Volcker rule
Complex legislation has created compliance uncertainty, Federal Reserve argues
FOMC members rarely change their preferences – paper
Researchers find policymakers tend to form their preferences early on in life
Powell says central banks cannot take independence for granted
Leading governors reflect on the future of central banking at Riksbank’s 350th anniversary
Fed’s Evans: central bankers not about to be replaced by machines
Chicago Fed president says uncertainty over technological disruption leaves plenty of room for human judgement
Podcast: San Fran Fed’s Daly on gender inequality in central banks
Mary Daly on the importance of role models in improving central banks’ gender balance
Most FOMC participants say they may raise rates ‘soon’, minutes show
Data show US unemployment falling to lowest point since December 2000
Fed survey reports increased US economic prosperity
Inequality across ethnic groups, regions and educational levels remains a key economic factor
US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
Higher interest rates prove a challenge for reserve managers
Argentina has lost 14.3% of its reserves since late April trying to defend the peso; central banks can employ accounting methods to handle turbulence, expert says
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
Brainard ‘optimistic’ DLT has future in financial services
While privacy remains a concern, Fed board member believes resilience of the technology means it has a future, even if crypto dies out