Governance
Trump: Powell is a ‘numbskull’ for not cutting rates
President calls for 100bp easing, while vice-president says Fed policy is “monetary malpractice”
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
RBNZ says funding dispute triggered Orr’s resignation
Bank says ex-governor felt five-year financing package was “considerably” below what was necessary
Rule of law of ‘highest relevance’ for central banks – Elderson
Economic growth requires institutional independence and strong legal framework, ECB board member says
Quarles to lead review of FSB monitoring
Appointment of former Fed vice-chair reflects shift in focus for global body
People: April to June 2025
A round-up of central bankers in the news and on the move during the past three months
Jobs, not prices, are main reason for dissent on FOMC – study
Votes show unemployment in presidents’ districts is of greater concern to them than inflation
Obituary: Stanley Fischer, 1943–2025
Fischer had a profound impact on central banking, as path-breaking academic and top policy-maker
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
Slovak court convicts central bank governor of bribery
Kažimír must pay €200,000 or face prison for having paid an official to expedite VAT refunds
Auditors need to make friends and influence people – DNB official
Olaf Sleijpen says central banks’ internal referees need to improve their comms and people skills
Book notes: The political economy of central banking, by Alessandro Roselli
Roselli’s book offers a comprehensive history of the relationship between governments and central banks
Failure to appoint deputies ‘a step back’ – Montenegrin central bank
Bank will “continue to implement its mandate” despite parliament not approving its candidates
Central banks must rethink their accounting treatment of money
Biagio Bossone and Massimo Costa call for money to be accounted for as equity for the issuer and as a public asset for the economy
‘Chat Bankman-Fried’ has poor grasp of governance – study
Bank of Italy paper finds many LLMs would choose to behave in similar way to former crypto exchange owner
Knot calls for more diversity in financial institutions
DNB head says challenges demand “diverse perspectives” as bank aims for full gender balance by 2028
Hungary to change central bank law
Amended legislation would increase size of monetary council and ban creation of new foundations
BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
Six in 10 at ECB do not trust Lagarde – staff union survey
Survey shows frustration at career progression, employment uncertainty and HR over past decade
Trump makes a U-turn on Powell
President “might” call Fed chair about lowering rates, but claims he never had any intention of firing him
Hungary’s central bank publicly clashes with opposition leader
MNB says unnamed politician failed to comply with inquiry; Tisza head says he is target of smears
Kashkari stresses importance of Fed independence
Minneapolis Fed chief expresses solidarity with Powell following Trump attacks
Trump administration escalates attacks on Powell
Kevin Hassett says White House is studying whether president can fire Fed chair