Monetary Policy
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
Kashkari stresses importance of Fed independence
Minneapolis Fed chief expresses solidarity with Powell following Trump attacks
Trump and Powell’s war of words escalates
Fed chair slams tariffs, while president says Powell’s departure “cannot come fast enough”
ECB makes quarter point cut amid ‘exceptional uncertainty’
Lagarde says anyone who thinks world is “shock-free” needs “their head examined”
Turkey reverses easing cycle by raising policy rate to 46%
Central bank makes further attempt to calm markets following opposition leader’s arrest
Bank of Korea holds rates at 2.75%
Growth sluggish and inflation on target but central bank needs more time to judge tariff effects
Atlanta Fed chief urges caution amid ‘big pause’ in US rates
Bostic compares US central bank to car driving through fog, and says now may be the time to pull over
Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs
Namibia holds policy rate at 6.75%
Central bank points to uncertainty caused by disruption to global trade
Waller is latest Fed governor to sound warning over tariffs
Board member says effect on growth and jobs likely significant, but inflationary hit could be transitory
Average inflation targeting raised post-Covid prices in US – study
Dallas Fed research argues Fait framework contributed to surging prices
Policy should respond to long-run expectations – Fed study
Such a framework would enhance price stability, paper argues
Market turmoil causes BoE to reschedule long-dated bond sale
Change to QT plan comes after tariff uncertainty triggers surge in UK government bond yields
Philippines resumes easing cycle with quarter-point cut
Inflation slows but growth risks increase amid “more challenging” external environment, BSP says
Reserve Bank of India cuts benchmark rate to 6%
RBI hails fall in food inflation, but revises growth forecast down because of US tariffs
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
New Zealand makes rate cut in response to tariffs
RBNZ eases policy by 25bp and points to trade war’s downside risks to growth
Current and former Fed officials lambast Trump tariffs
Bloom Raskin says central bank is now “last bulwark” against measures’ inflationary impact
Book notes: Unexpected revolutionaries: how central banks made and unmade economic orthodoxy, by Manuela Moschella
This book delves into the political science perspective of central banking since the 1970s but lacks nuance and depth