United States
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
FOMC members concerned over US inflation, minutes show
Some committee members sought to maintain pace of Fed’s balance sheet selloff
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships, but economic gravity may soon reassert itself
FDIC chair Gruenberg steps down after harassment review
Hundreds of reports of inappropriate behaviour at FDIC have come to light
Global supply chains undergoing “great reallocation”, expert says
Mexico is biggest winner from US trade shift, economist tells Atlanta Fed conference
G7 may use Russian asset profits to fund Ukraine
US asks European governments to agree money should back $50 billion loan
Past US presidents’ Fed pressure raised inflation – NBER paper
Nixon-era evidence points to major impact on price level from “political pressure shocks”
Fed green lights more capital relief trades
Five US banks authorised to issue repeat credit-linked notes backed by financial guarantees
Fed policy-makers express frustration over price rises
Officials draw differing conclusions on the outlook for the labour market
Fed paper looks at US opioids crisis
Banks are causing credit contraction in worst-affected communities, researchers say
Research queries monetary policy ability to curb financial crises
“Leaning against the wind” is unlikely to work, New York Fed paper argues
Book notes: Going infinite: the rise and fall of a new tycoon, by Michael Lewis
Nothing in the book left this reader thinking anything positive at all about Bankman-Fried
Uneven US innovation could increase inequality – research
St Louis Fed economist documents rising patent concentration by area
Fed releases guidance on third-party services
Fed board warns of possible operational, compliance, financial and strategic risks
Retail CBDC complexity may discourage adoption, says research
Kansas City Fed author argues Caribbean CBDCs have struggled to add value
Neutral interest rates at pre-pandemic levels, Bank of Canada finds
Nominal neutral interest rates in both countries sit between 2.25% and 3.25%
Fed holds rates as it struggles with inflation’s last mile
Experts disagree over risks of rising inflation and difficulty of Fed’s position
US needs to change bank takeover rules, FDIC official says
Rohit Chopra criticises SF Fed over bank linked to Sam Bankman-Fried firms
Trump advisers aim to curb Fed independence, report says
WSJ says leaked document discusses sacking Powell and giving Trump vote on policy
Research probes US consumers’ dislike of inflation
People prefer inflation close to zero but may misunderstand the underlying processes, studies find
Stress-test failures increase banks’ M&A scrutiny, Fed research finds
US lenders’ merger-related activity improves if they have failed tests, authors say
Fed policy has more effect during US recessions, ECB paper finds
Researchers use non-linear methods to examine effects of FOMC shocks
‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
Ingves, Trichet and Villeroy de Galhau recall tough trade-offs at Basel Committee’s 50th anniversary
US news has a large impact on global bond yields – research
Bank of Canada research finds US news affects expectations in other countries