Articles by William Towning
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader explains how the US will develop ubiquitous, real-time payments
Fed’s new framework splits opinion
Former Fed staff offer mixed reactions to AIT; most call for more refined communication
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
Podcast: Cleveland Fed director on all things inflation and Covid-19
Robert Rich discusses money supply growth and muted inflation, plus new Fed research
IMF urges broad shake-up of US financial stability framework
Rapidly changing financial landscape poses challenges for the complex oversight framework, IMF says
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Yellen calls for ‘new Dodd-Frank’
Fed prevented financial crisis in March, says former chair, as Brainard backs calls for reform
Fed’s safety nets are ‘fundamentally unsustainable’
New safety nets will allow “zombie companies” to thrive and drag down productivity, experts say
Fed caps dividends after stress tests show big potential losses
Brainard says decision not enough as tests show loan losses could exceed those during financial crisis
Podcast: Boston Fed backs community action on Covid-19 and racial inequality
Working Cities Challenge provides soft infrastructure for better policies and progressive conversations
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting rules
High US inflation should not be ruled out
A prolonged health crisis raises the risk that hidden inflationary pressures could be stoked
Fed promises to keep buying assets at current rate
Fed will hold accommodation in place for “however long it takes”, chair Jerome Powell says
US unemployment falls sharply in May
Unemployment rate declined to 13.3% from 14.7% in April, despite widespread fears it would rise
Former officials say Fed should impose tighter regime
Donald Kohn and Jeremy Stein warn of risks and say Fed should stop US banks paying dividends
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
No date in sight for Fed Board nomination vote
Delays in voting on Judy Shelton and Christopher Waller leave board understaffed during crisis
Crisis exposes flaws in US financial stability regime
Former Fed chair Yellen urges Congress to reform US’s financial stability framework
FOMC considers more aggressive forward guidance
Officials discussed state-contingent forward guidance and yield curve control, April minutes show
Podcast: Financial innovation and stability in the US
Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting
Fed set to adopt ‘elements’ of price-level targeting
Covid-19 could act as a catalyst for Yellen-backed move to adopt elements of price-level targeting
Could engineering higher inflation help manage fiscal deficits?
Fiscal and monetary co-ordination could be a workable option for recovery, Chicago Fed paper finds