United States
Flatter Phillips curve calls for average inflation targeting – Brookings paper
Average inflation targeting could be “especially effective” in current environment, researchers say
Pricing the lives saved by coronavirus policies
How does the effort to reduce risks to human life from Covid-19 compare with the economic losses?
US unemployment could hit 32%, St Louis Fed says
Unemployment insurance claims see greatest ever post-war rise
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
Is credit policy the new normal for the Fed?
Three former senior Fed officials look back on an unprecedented month of policy action
Fed selects BlackRock to manage asset purchases
Fed taps into firm’s experience in corporate debt management in move reminiscent of 2008 crisis
Fed’s balance sheet could see massive further growth
Response to coronavirus has already pushed Fed’s holdings up to record levels
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
16% of US jobs in high-risk sectors – Brookings research
Researchers examine possible impact of coronavirus on US sectors and metropolitan areas
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
US health system likely to be overwhelmed – Minneapolis Fed paper
Policy-makers must support massive healthcare investment and severe social distancing – researcher
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Fed commits to unlimited bond purchases in massive new programme
FOMC announces radical new measures and calls on other policy-makers to act aggressively
US regulators offer more guidance on loan restructurings
Any modified loans remain eligible collateral for discount window, Fed says
New York Fed to offer $1 trillion per day in repo funding
Move sends message the Fed stands ready to meet any increase in funding demands over coming period
Dollar crunch eases as central banks step up swaps action
Core swap recipients will offer daily dollar auctions; cross-currency basis narrows
US banks increase discount window borrowing
Federal Reserve “encouraged by the notable increase” in use of the backstop facility
Fed starts financing money market funds
US Congress overrules Dodd-Frank clause at Treasury request as Fed brings in sweeping measure
Fed expands network of swaps to emerging markets
Emerging markets will now have direct access to a dollar backstop, but it is still limited
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
Banks rush to tap new dollar liquidity facilities
IIF warns of major capital flight from emerging markets as demand for Fed-backed repos surges
Cleveland Fed president criticises scale of rate cut
FOMC should have saved some rate cuts for US economic recovery, Loretta Mester says
Fed re-launches Primary Dealer Credit Facility in latest crisis move
New PDCF is more easily accessible than similar measure used in 2008 crisis
Fed moves to ease commercial paper strains
Commercial paper market under “considerable strain” due to coronavirus-related uncertainty, Fed says