Federal Reserve System
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
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
Fed board members pledge caution in cutting rates
Governors say unemployment and inflation risks are roughly in balance
Barr resigns as Fed’s vice-chair for supervision
Basel III champion leaves role to avoid potential battles with new administration
Capital neutrality key to completing Basel III, says Quarles
Former Republican Fed vice-chair thinks Hill or Bowman could help revive stalled prudential rules
Unfunded fiscal spending leads to lower real rates – research
Deglobalisation could limit ability of monetary policy to control inflation, says author
Repo and FX markets buck year-end crunch fears
Anticipations of changes to the Fed’s reverse repo programme contributed to easing balance sheet pressures