Unemployment
Summers steps up attacks on Fed inflation stance
Inflation hawk warns of “complacency” after April CPI hike, but FOMC members have stood firm
Don’t dismiss inflation risks but don’t overreact, say central bankers
Sbordone, Smets and Vlieghe weigh up challenges for central banks in the “return towards normal”
Fed leaders hold dovish line as CPI surges
Board members and regional presidents say inflation and employment goals still far from met
Fed’s Bostic says economic inclusion goals shape policy
Atlanta Fed president calls for more joint work with CFPB
BoE forecasts 7.25% UK growth in 2021
Bailey warns downside risks to the outlook remain
Fed plays down US economic rebound
Powell says economy still “a long way from our goals” as FOMC holds policy steady
Fed won’t set rates to ease debt pressure – Waller
Newest Fed board member stresses central bank autonomy in first public address
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes
Barkin concerned over pandemic ‘scarring’
Richmond Fed chief says disruptions imperil access to jobs and economic growth
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending
Fed keeps policy rate steady
Jerome Powell says FOMC will hold policy until it sees “actual progress, not forecast progress”
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Fed officials differ on outlook for US economy
Leaders agree on policy, but differ on forecasts, measures and key concerns
Richmond Fed’s Barkin calls for more vocational training
Tom Barkin says US infrastructure workforce depleted; advocates more immigration
Powell: US economy still ‘a long way’ from meeting Fed goals
Fed chair predicts continued need for low interest rates and QE, as recovery remains “uneven and far from complete”
New Zealand’s banking system operationally ready for negative rates
Central bank will lower rates below zero lower bound if required, MPC says
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
Brazilian congress passes central bank autonomy law
Law gives CBB autonomy and sets renewable four-year terms for governor and MPC members
Frequent recessions push up US unemployment rate – paper
Cleveland Fed research says two decades of growth would produce 3.6% unemployment
Fed on hold in first policy meeting under Biden administration
Unanimous vote comes amid signs of possible further fiscal stimulus; new voting members join FOMC
New IMFC chair warns against premature stimulus withdrawal
Magadalena Andersson lays out priorities for the IMF over the coming years
IMF’s Georgieva highlights pandemic impact in Latin America
GDP contraction is forecast to be 8% of GDP in 2020, double the level for the global economy