United States
Fed’s Evans: central bankers not about to be replaced by machines
Chicago Fed president says uncertainty over technological disruption leaves plenty of room for human judgement
Technology is threatening living standards of low-skilled workers - Dallas Fed president
Millions of US workers are “having a hard time”, Kaplan says
Podcast: San Fran Fed’s Daly on gender inequality in central banks
Mary Daly on the importance of role models in improving central banks’ gender balance
Most FOMC participants say they may raise rates ‘soon’, minutes show
Data show US unemployment falling to lowest point since December 2000
Dudley calls for ‘aggressive action’ on benchmark reforms
Failure to move to new framework before 2021 could create “large-scale disorder”
Fed survey reports increased US economic prosperity
Inequality across ethnic groups, regions and educational levels remains a key economic factor
US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
Nominal exchange rates can be forecast on ‘back of a napkin’ - ECB paper
Flexible exchange rates in advanced countries have two regularities, researchers find
Bostic sees US economy close to jobs and inflation targets
Even with higher rates, the Fed president forecasts inflation “to run a bit above” 2% target
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
Housing inequality creates credit inequality – NY Fed’s Hirtle
Older people with less need of credit have seen the value of their collateral rise more
Mester backs review of Fed’s inflation targeting framework
Cleveland Fed president says 2% target may not be suitable for low interest rate environment
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
US rates will rise less than in previous expansions – Fed’s Williams
Higher savings and lower productivity growth means “new normal” will continue, Williams says
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
US sanctions Iranian central bank governor
Valiollah Seif and another senior official accused of transferring funds to militant group
People: Weidmann re-elected as chair of BIS board
Korea appoints deputies; new Malaysian prime minister appoints team of economic advisers; new vice presidents in Richmond and Atlanta
Brainard ‘optimistic’ DLT has future in financial services
While privacy remains a concern, Fed board member believes resilience of the technology means it has a future, even if crypto dies out
Fed nominees back regulatory efficiency drive
Nominees stick to efficiency line despite hostile questioning from some Democrats
US consumer inflation expectations are on the rise – NY Fed
Median one-year price rise expectations increase to 2.98% in April from 2.75% in March
The toxicology of post-crisis shadow banking
Mark Carney tempted fate in 2017 when he declared the most toxic forms of shadow banking “no longer represent a global stability risk”. Did he speak too soon?
Adrian and Rey: macro-prudential tools needed to resist ‘bad booms’
Economists say monetary policy cannot fully control local conditions; Hélène Rey calls for improved early warning models
Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016