Central Banking
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Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds and Fed-backed digital currency as crisis tools
Bank Indonesia criticised after direct purchase of government debt
World Bank economist warns primary market purchases could undermine confidence
Norges Bank signs working agreement with Nicolai Tangen
Tangen’s appointment as SWF chief had been questioned due to his relationship with his predecessor
Quotes
The big risk [the Fed's] taken – and it is an enormous risk – is by not just venturing into investment-grade credit, but also in venturing into parts of high-yield credit
Mohamed El-Erian, chief economic adviser, Allianz
We remain very committed to blockchain architecture as a distributed ledger technology for this project. Without it, the project doesn’t achieve many of the efficiencies
Dante Disparte, vice-chairman, Libra Association
Europe is not only the ECB. These measures buy time again. But there must be a political decision to put in place a fiscal structural mechanism.
Peter Praet, former chief economist, European Central Bank
Yield curve control has not helped to raise aggregate demand, demand for credit, inflation or inflation expectations – just like quantitative easing and other tools adopted in Japan
Sayuri Shirai, former policy board member, Bank of Japan
If I have gold, I am not going to be told by the US government that my US dollars are not usable. This is fundamentally reassuring.
Jacques de Larosière, former managing director, International Monetary Fund
It may, over time, look like the manager of the one of the world’s largest single pools of financial assets trying to run a central bank on the side.
Knut Kjær, former chief executive, Norges Bank Investment Management
You probably think minutes are a gold mine. Well, they are like a gold mine in that there is a whole bunch of rock and not much gold.
Stephen Poloz, governor, Bank of Canada
Editor's choice
Crisis exposes flaws in US financial stability regime
Former Fed chair Yellen urges Congress to reform US’s financial stability framework
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Comment
PBoC’s post-pandemic policy is still up in the air
The impact of AI adoption on supervisors
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Our Take
Global carbon taxes are coming: central banks must prepare
Inflation targets back in the spotlight
Macroeconomics is not broken
Nigeria slashes rates by 100bp
Riksbank launches new financial vulnerability metric
Fed can boost power of fiscal spending in communities – Harker and Rajan
National Bank of Poland cuts rates again but predicts recovery
Record hiring needed to reach pre-crisis unemployment by end-2021 – paper
US consumers expect more fiscal support – New York Fed survey