Articles by Riley Steward
Payments Benchmarks 2025 report – cross-border connections
Benchmarks highlight progress on instant payments, ISO 20022 adoption and bilateral links
Experts expect Fed to hold firm in face of Trump’s attacks
Economists believe FOMC will hold rates, despite White House’s calls for policy to be eased
Acting US currency comptroller defends pre-emption
Hood says principle is in line with federal law and court precedent
Supreme Court ruling raises storm clouds for Fed
Decision to allow dismissal of agency staff without cause poses risks to bank’s independence, say experts
Why making cents no longer makes sense
Experts praise US Treasury’s decision to stop minting pennies, but question policy’s implementation
Fannie, Freddie … and Donald
Trump’s plan to privatise GSEs may pose systemic risks if not done properly – and Fed may have to intervene, say experts
Bank of Mexico puts growth before prices with rate cut
Economists say decision reflects concerns about possible tariff-induced recession
Fed researchers call for new definition of ‘unbanked’
Economists support paper’s more nuanced approach, but caution against dropping current terminology
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
Fed holds rates as experts sound alarm over stagflation
FOMC says risks have risen on both the employment and inflation sides of its mandate
Experts divided over contraction in US economy
Ex-NY Fed chief says latest figures are an anomaly, though others point to Trump policies’ impact
Inflation expectations survey flashes warning signs in US
University of Michigan report, cited by Fed officials, says outlook had dropped in tandem with tariffs
Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs
Current and former Fed officials lambast Trump tariffs
Bloom Raskin says central bank is now “last bulwark” against measures’ inflationary impact
‘Declaring war on the world economy’: economists react to Trump tariffs
Early estimates point to stagflation in US, as tariffs hit highest level since early 20th century
Do Trump/Doge materially threaten the Federal Reserve?
Experts weigh in on the danger levels for the US central bank, including whether it is overstaffed
RBNZ opens payment system to non-banks
Second phase will accept applications from payment service providers and overseas deposit-takers
Mexico’s central bank cuts rates by 50bp
Economist says last month’s uptick in inflation means Banxico should have held
US life insurers more exposed to ‘risky’ debt than in 2007 – study
Fed research compares current situation to subprime exposure that preceded financial crisis
FOMC holds rates amid uncertainty and stagflation risks
Fed chair Jay Powell says inertia also a factor as committee opts for caution
US stagflation risk is significant and rising, experts say
Path of tariffs will largely determine level of risk, academics tell Central Banking
‘No strategy’ in US tariffs, says Mexican economist
Measures ignore “triangular” trade relationship between US, China and Mexico
Atlanta Fed’s GDP estimate takes a nosedive
Bank projects more severe contraction in Q1, while analysts point to possible recession
Powell: ‘We’re close, but not there yet on inflation’
Fed chair also addresses bank independence, climate risk and CBDCs during testimony before Congress