Janet Yellen
The candidates knocking at Yellen’s door
Leading academics and economists weigh the competency of the top candidates for the Fed job – and how likely they are to win Trump’s favour
Yellen defends contentious FSOC decision on AIG
Top regulators narrowly vote to remove AIG’s designation as systemic, exposing sharply contradicting views on the Financial Stability Oversight Committee
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
Yellen stresses commitment to ‘gradual’ rate hikes
Fed chair examines possible factors behind disappointing inflation results, but concludes gradual rate hikes are still warranted
John Williams on the neutral rate of interest and mandate change
The president of the Federal Reserve Bank of San Francisco speaks about the plunge in the natural rate of interest, and why it means central banks should work together to review their price stability targets
FOMC triggers balance sheet wind-down
Fed will begin allowing securities to roll off its balance sheet from October; Janet Yellen stresses changes will proceed gradually
Stanley Fischer announces October resignation from Fed
Vice-chair to step down in October “for personal reasons”, eight months before scheduled
Draghi and Yellen issue warnings on regulatory rollback
The two central bankers used their speeches at Jackson Hole to focus on the dangers of abandoning the lessons of 2008
“What would Allan say?”
Central Banking Publications founder Robert Pringle finds pearls of wisdom in his email correspondence with the late Allan Meltzer
Trump says Yellen still in the running for renewed term
US president says he would consider reappointing Janet Yellen, although Gary Cohn and “two or three others” are in contention
Fed would remove Wells Fargo board if ‘appropriate’, says Yellen
Fed chair asked why stricter penalties had not been imposed after bank opened millions of fake accounts; senator Warren says current system has created “bullet proof” executives
Yellen warns of debt impact on productivity
Fed chair states in “strongest possible terms” that the current spending by the US government is unsustainable and could harm productivity
Bullard raises concerns about east coast dominance of the Fed
St Louis Fed president is not worried about the major shake-up of the board of governors; points to reducing the influence of the New York Fed on the FOMC
St Louis’s Bullard on the future of the Fed and its monetary policy record
St Louis Fed president James Bullard rails against east coast dominance, favours aspects of the Choice Act and says Fed monetary policy was a “factor” that fuelled crisis
Inflation data causes rift in FOMC
Fed officials discuss whether incoming low inflation data is “transitory” or is a sign of worrying things to come; minutes outline balance sheet unwinding but date remains unknown
Yellen urges caution on regulatory adjustments
Janet Yellen and Mark Carney say the US could adjust its banking regulations without undermining global standards; Basel’s Coen stresses need for co-operation
Yellen willing to reassess 2% target
Fed chair says question of the right target level is one of the most important facing central banks today; wind-down of QE likely to be dull, she adds
Yellen told inflation target needs revising
Economists say current economic conditions call for a revision in the inflation target; Federal Reserve should appoint commission to advise on “path forward”
Possible Fed appointments on the horizon
Treasury department official Randall Quarles and former Fed staffer Marvin Goodfriend believed to be on the shortlist; no date yet for appointment announcement
Book notes: Fed Up, by Danielle diMartino Booth
A “fascinating but annoying” account by a US Federal Reserve insider who openly criticises the culture of the US central bank and policy decisions made by the institution leading up to and following the financial crisis
Fed report finds many people left behind by growth
Survey finds nearly a quarter of Americans struggling to pay their bills; problems concentrated in less-educated segments of the population and minority groups
Increasing female participation in workforce will help US growth – Yellen
Fed chair examines barriers women still face when entering the workforce; increasing participation rate could help increase US output by 5%
‘Our independence is under threat’ – Yellen
Fed chair cites two legislative bills that could significantly harm the central bank’s ability to make independent monetary policy decisions; US economy is being allowed to “coast”
RBI’s Patel gets pay rise but remains cheap by G20 standards
RBI governor sees his pay increase somewhat relative to his predecessor, but other G20 governors and even other RBI staff earn substantially more