United States
Raskin withdraws Fed candidacy
Nominee cites “relentless attacks by special interests” after key senators oppose bid
Raskin Fed role in doubt as key senators voice opposition
Manchin says appointment would “politicise” Fed with opposition to fossil fuels
US inflation continues ascent
CPI inflation reached new high of 7.9% in February
Biden orders CBDC report from Fed and other agencies
Report must advise on how possible CBDC would affect US security and sovereignty
Markus Brunnermeier on the need for CBDCs
The Princeton academic co-authored a paper for the European Parliament exploring the potential pitfalls of CBDCs. But they are still needed, he says
People: Chile appoints new central bank director
BoJ set to gain new policy board members; RBA names new head of banking; and more
Powell says he expects March rate hike
Fed chair says FOMC is discussing agreement on shrinking balance sheet
Ukraine invasion raises questions for Fed policy and Latin America
Economists say some countries may benefit from higher commodity prices, but food inflation and uncertainty over Fed policy complicates the outlook
Global markets show signs of strain as Russia sanctions bite
Flight to safe havens is starting to create tensions in dollar funding markets
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
US regulators fine Pakistani state-owned bank
Central bank-owned NBP will pay more than $55 million for AML shortcomings
Fed officials debate risks of a ‘hot economy’
Academics and policy-makers weigh up whether economy is now overheating
US announces initial financial sanctions on Russia
Biden administration bars secondary market bond transactions, but expert says impact likely to be limited
UK sanctions on Russia target five smaller banks
EU and US yet to announce detailed measures as expert calls possible Biden measures “weak”
Stablecoin risks raise need for CBDC research – Brainard
ECB’s Panetta says “stablecoins are not money”, as Brainard weighs CBDC as possible alternative
Fed’s Brainard backs series of rate hikes followed by asset runoff
Governor says economy is responding appropriately to Fed communications and incoming data
FOMC adopts new ethics rules on trading
Fed reforms follow months of controversy over equities trading and three resignations
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
US Senate Republicans stall Fed nominations
Raskin denies opposition lawmakers’ allegations that she engaged in untoward lobbying
US short and mid-term inflation expectations fall, says NY Fed
But housing price expectations rose 0.5% in January
Fed to stress-test banks’ commercial real estate exposures
The Fed will look at lending capabilities under ‘severe’ economic conditions
US Treasury opposes ending IMF surcharges
Biden administration rejects initiative championed by Democratic progressives
US core inflation much higher than eurozone’s, says ECB
Central bank points out differences in inflation dynamics across the Atlantic