United States
Fed will delay stress capital buffers, Quarles says
Vice-chair says Fed is looking to modify stress-testing methods
Fed holds rates steady
FOMC points to slowdown in pace of fixed investment
EU offers Iran sanctions relief with new clearing house
Iran retains access to Swift network despite US sanctions, but new clearing house could provide permanent loophole
Book notes: The Fed and Lehman Brothers, by Laurence Ball
Ball claims the Fed could have lent to Lehmans, lawfully and prudently, had it chosen to do so, writes Reddell. But agreeing the Fed could have provided liquidity support does not automatically imply it should have
Fed proposes further regulatory loosening for small firms
Governor Lael Brainard voted against the last proposed reductions in regulation
Lagarde calls for an end to trade tensions
IMF chief says countries should ‘fix’ global trade system, not ‘destroy’ it
NY Fed economist explores election night volatility
Treasuries suffered dramatic moves as Donald Trump was elected in 2016
US banks’ strategic similarities pose risks – NY Fed official
“Supervisors should be dynamic and continue to evolve as the supervised firms do,” Kevin Stiroh says
US unemployment remains at lowest level since 1969
Hourly wage growth is at highest rate since 2009, but year-on-year inflation falls to 2%
US forward guidance had limited effectiveness, Fed paper finds
Households and firms took until 2012 to seriously consider new regime, researchers say
Fed proposes lightening regulations for large banks
Lael Brainard objects to plans, warning they could leave taxpayers “on the hook”
US inflation slowdown raises policy challenges
Inflation has seen a lull, but several factors indicate it could rebound
Fed vice-chair backs further tightening
Clarida says data likely to support further rate hikes as Mester warns US is “beyond full employment”
New York Fed files to dismiss narrow bank lawsuit
“The costs are real and continuing”, TNB says, as the New York Fed continues to delay
Dallas Fed paper analyses monetary policy rules
Results are in “stark contrast” to previous research, authors say
Former Fed chair laments US disarray
“How can you run a democracy when nobody believes in the leadership of the country?”, Paul Volcker asks
US regulatory sanctions lead to banks cutting credit costs – Finnish paper
Sanctioned banks cut loan costs by 22bp on average, researchers find
Further US tightening risks recession – St Louis Fed president
Bullard says rates “don’t have to go anywhere” but Bostic warns of potential overheating
China’s exchange rate poses major challenge to fairer trade – US Treasury
Renminbi has fallen by 6.25% against US dollar in 2018, reserves have declined by $74 billion
Is Donald Trump undermining the Fed’s independence?
Persistent commentary could impact policy-making, but dialogue is necessary, says one observer
Fed’s QE programme changed US corporate financing – BdF paper
Conventional monetary policy and QE have very different transmission mechanisms – researchers
Daly favours Fed’s gradual normalisation policy
The San Fran Fed president will be voting in the next FOMC meeting on November 7-8
Exchange chiefs back Giancarlo in tussle over CCP oversight
CFTC may block US CCPs from acceding to EU supervision
Fraud growing faster than non-cash payments, Fed finds
Cases of payments fraud are getting smaller but more common, survey finds; introduction of chip-based cards appears to have helped reverse the trend