Federal Reserve System
Yellen to join former Fed colleagues at Brookings
Janet Yellen returns to her research roots with position at Brookings Institution
Fed unveils 2018 stress tests for big banks
The severely adverse scenario would take the unemployment rate to 10% from 4.1%
Rates on hold after Yellen’s final FOMC meeting
New committee finds unanimity on rate hold, as Janet Yellen prepares to step down
Global custodian of the year: BNY Mellon
The US asset specialist has made strong progress in its effort to offer a seamless overlay of its disparate legacy systems, while also providing improved training to official institutions
Weaker dollar may indicate markets expect US slowdown
Weakening currency despite strong growth presents puzzle for policymakers
Obituary: William McDonough (1934–2018)
The former New York Fed president helped avert several crises during his time in office
People: US Senate confirms Powell as new Fed chair
PBoC’s Zhou Xiaochuan not included in key advisory body; Buhari set to appoint new deputy governor at CBN
Central bank of the year: Bank of Canada
The Canadian central bank has stood out for its ever-improving levels of transparency, forward-looking management and best-practice review of its policy mandate
Goodfriend’s economic views challenged by US senators
Nominee to Fed’s board criticised the dual mandate of low inflation and unemployment in the past
Fed paper models risk-taking channel of monetary policy
Model in which monetary expansion increases risk-taking appears to fit with the data
Revised Basel output floor could hit US banks after all
Fall in operational risk weights could push up capital requirements for market and credit risk
Quarles signals plans for US regulatory revamp
Fed vice-chair outlines some initial plans for a readjustment to post-crisis regulations
Mester puts forward innovations in policy communication
The president of the Federal Reserve Bank of Cleveland proposes focusing on explaining policy decisions
Higher inflation in the US could accelerate Fed’s tightening
US Treasury yields rise as GDP growth accelerates and inflation expectations increase
Big data can give valuable labour market signal – Fed paper
High-frequency private payroll data is useful in forecasting the labour market, researchers find
Dudley warns Trump tax plan leaves US finances ‘unsustainable’
New York Fed chief says policymakers may have to tighten rates harder to offset stimulus
Fed economists tackle question of optimal balance sheet size
Cutting balance sheet would significantly reduce interest rate risk, economists find, as Fed acknowledges lower profits due to interest payments
Bernanke says Fed likely to review policy framework
Former Fed chair says analysis on change to inflation targeting is likely; panel of experts presents wide range of views on what any change should be
Fed could use rates to counter instability – Mester
2015 exercise showed major problems in use of macro-prudential tools, says Cleveland Fed chief
Fed proposes expanding risk regime to foreign subsidiaries
New consultation suggests widening the scope of the August 2017 proposals to foreign-owned operations
Richmond Fed paper explores Fed’s monetary policy history
The author identifies a lack of consensus on the nature of the monetary regime as a policy weakness
People: Bank of England official to become FCA chair
Charles Randell to take over as FCA chair in April; BoE appoints its first job sharers at executive director level; Vietnam names deputy governor; Mark Mullinix to leave Fed; and more
New US tax plan promising for growth – Fed minutes
FOMC members revise the growth outlook upwards for next 12 months, as tax cuts promise to provide “some boost” to consumer spending
Fed paper studies inequality in three dimensions
Authors find examining three dimensions simultaneously gives new insights