Federal Reserve System
US inflation higher or more cyclical at start of year – study
Dallas Fed research says slowing inflation is more encouraging if it takes place in January
FSB: big banks could be sidelined from future rescue deals
Exacerbation of too-big-to-fail means G-Sibs could already be too large to take extra assets
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
Banks’ leverage ratio ‘over-calibrated’, says Fed’s Bowman
Heavy capital requirements causing illiquidity in Treasury market, governor says
Fed vice-chair says rate cuts most likely over medium term
Jefferson says inflation and labour risks are in balance and cautions against immediate policy shift
Fed can afford to wait on rates, say regional heads
Atlanta and Chicago presidents say uncertainty over economy means it’s too soon to talk of more cuts
Trump reverses course on Fed decision
US president says central bank was right to hold rates in January
US sanctions may create demand for Eurodollars – NBER paper
Economists compare today’s market to the one that emerged during Cold War era
Former Fed adviser arrested for allegedly spying for China
Indictment claims official passed on sensitive economic and financial data to Chinese security services
Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
Medium is the message, say Bank of Spain researchers
Coverage of policy decisions has greater impact than central banks’ own comms, study finds
Trump’s rate cuts ‘demand’ spells trouble for Fed – economists
Comments will cause problems for central bank and threaten its independence, academics claim
Philadelphia Fed documents troubling credit trends in US
Revolving credit and delinquencies on rise as minimum payments hit peak for the decade
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Inflation uncertainty spills over into US – Fed study
Lack of clarity over input costs and interest rates leads to lower levels of investment, study finds
Trumps launch cryptocurrencies ahead of inauguration
Donald’s and Melania’s meme coins come as administration signals crypto-friendly regulatory stance
Disability poses hidden costs in US – Fed research
Authors also explore how gender gap and living alone affect financial wellbeing
Basel stops short on wrong-way risk
New guidelines a step in right direction, but experts warn they won’t prevent another Archegos
Fed’s anecdotal survey correlates with economic data – research
Study says Beige Book’s “soft” data is “actually quite firm”
Barr’s Fed exit likely to delay, but not destroy, Basel III
Market risk, op risk and leverage ratio all in the sights of Barr’s potential successors