Federal Reserve System
Dudley says Federal Reserve could do more to be a ‘better global steward'
Permanent FOMC member suggests dollar's reserve currency status sets the US central bank apart; warns Fed funds rate hike likely to spark ‘market turbulence'
Powell says ‘good deal more’ needs to be done on CCPs
Fed governor Jerome Powell stresses the need for international coordination to ensure that reforms on the central clearing of OTC derivatives live up to their promise
Lagarde approves of BoJ’s ‘brave’ decision to launch more QE
IMF managing director describes ramping up of asset purchases as ‘perfectly legitimate’ and ‘brave’ on high-level panel in Paris; Yellen, Coeuré, Rajan and Carstens also feature
Hélène Rey warns advanced economies are not safe from US spillovers
Leading economist says spillovers from US monetary policy affect both advanced economies and emerging markets, weakening domestic policy; NY Fed's Bill Dudley responds
Kocherlakota wants FOMC to stress target symmetry
Minneapolis Fed president wants FOMC to clarify inflation objective; also calls for adoption of benchmark two-year time horizon for returning inflation to target
Yellen: Economics profession can benefit from more diversity
Janet Yellen argues economies ‘develop and become more stable through diversification’, noting the failure of economists brought a public debate about the health of the profession
Kocherlakota explains dissent from FOMC decision to end asset purchases
Minneapolis Fed president says downside risks to inflation outlook ‘arguably worse' than a year ago; says evidence from Japan and Europe shows need to act on 'an ongoing basis'
Fed wraps up asset purchase programme
US central bank brings era-defining policy to an end in unceremonious manner; Minneapolis Fed's Kocherlakota votes against decision
Bank of Mexico’s Sánchez considers EM response to tighter Fed policy
Deputy governor says emerging markets will need to contend with the end of the ‘financial bonanza’ that surfaced in the wake of the crisis, and must consolidate
Fed issues tougher and broader 2015 stress tests
Severely adverse scenario adds oil price shock and wider corporate bond spreads; list of stress-tested institutions grows
Robert Pringle’s Viewpoint: Stanley Fischer responds to the Fed’s foreign critics
The Federal Reserve vice-chair rightly insists that each nation should each keep its house in order; but the global village needs to be kept tidy as well
Fed paper models impact of return to normal rates
Discussion paper studies the likely effect of returning interest rates to more normal levels; finds different combinations of tools would have different effects on financial intermediation
The global financial architecture is broken
Central banks have taken over from Bretton Woods institutions in a multipolar world where actors are increasingly fearful of dealing in G-4 currencies, writes Andrew Sheng
Andrew Sheng says international monetary system is fundamentally flawed
Former chairman of Securities and Futures Commission says the world is breaking up into national currency blocks, and the revival of ‘Cold War 2.0’ makes it difficult to fix
Yellen ‘greatly’ concerned by inequality in US
Fed chair takes unusual step of addressing inequality in her speech at a Boston Fed conference; explores four ‘building blocks’ of economic opportunity
Danièle Nouy: Fed facing similar data challenges as ECB
The supervisory board chair delivers concluding remarks to the ECB conference on statistics; notes similarities between approach of Fed and European authorities to data problems
Top UK and US officials join forces to enhance resolution
Officials including Mark Carney and Janet Yellen meet in Washington to improve transatlantic cooperation in the event of a global banking collapse
Plosser wants Fed to follow ‘rule-like’ monetary policy
Philadelphia Fed president says constrained discretion has been shown to produce better policy-making, citing Nobel prize-winning research
Fischer says Fed ‘better think about’ international spillovers
Fed vice-chair says international effects of monetary policy ‘spill back’ on to the US, and the central bank cannot make ‘sensible’ choices without taking them into account
Carstens says EMs should look inwards to engineer growth
Bank of Mexico governor warns developed economies will grow below potential for a 'relatively long period’; Lagarde would 'do belly dancing' if it got US to approve new IMF governance
People: William English switches Fed roles; Argentina central bank adds new senior staff
William English will step down as director of the Fed board’s division of monetary affairs, but will remain as adviser; Central Bank of Argentina gets new director and general manager
Fed minutes reveal growing rifts over forward guidance
Minutes show increased debate over whether forward guidance is being used correctly; two dissenters object to phrasing of policy statement
Thailand’s central bank governor warns on risks of US rates normalisation
Prasarn Trairatvorakul warns that US interest rate normalisation could lead to ‘capital flow volatility’, considering it a ‘notable risk’
New York Fed’s Potter fleshes out normalisation plans
Vice-president responsible for open market operations gives details on how the Fed will use interest on excess reserves and reverse repos to raise its interest rate