Federal Open Market Committee (FOMC)
Powell promises ‘forceful’ action to reduce inflation
Fed chair warns against premature loosening and says cutting inflation “will take some time”
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
Fed governors still talking tough on inflation
Lower inflation expectations and CPI come as positive signals for the path ahead
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
Fed announces another 75bp rise
Jerome Powell says Fed’s approach to forward guidance will change
Powell divests municipal bond holdings
Fed chair acted early to comply in with new ethics code at Federal Reserve
Larry Summers says Fed suffers from dangerous groupthink
Former Treasury secretary argues a massive recession is needed to combat inflation
IMF says US faces hard balancing act
Excessive tightening by the Fed could cause negative spillovers for global economy, fund warns
Fed internal watchdog clears Powell and Clarida
Inspector-general still examining Rosengren and Kaplan, while senators criticise new code
FOMC ready to tighten policy further, minutes show
Members worried about inflation becoming entrenched but see some signs of pressures easing
Fed’s Evans and Bullard downplay recession risks
Both presidents looking to increase the policy rate to around 3.5% by the end of the year
Fed finds major banks able to withstand ‘severe recession’
All banks pass stress test despite tougher scenario than in 2021
Bank of Mexico orders largest-ever rate hike
Mexico matches Fed as inflation continues well above target
Brazil’s MPC continues hikes, but slows pace
Central bank orders eleventh consecutive increase, and says it expects more, but smaller, rises
Hong Kong and Taiwan raise rates
HKMA raises rates by 75bp, but local banks don’t follow, while Taiwan increases by 12.5bp
Gulf central banks raise rates after Fed hike
Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp
US inflation expectations inch higher
New York Fed survey finds rise in expectations at one-year horizon, but not at longer term
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Fed’s favoured inflation gauge falls
PCE inflation reading for April 2022 was down from March
Esther George to step down as Kansas City Fed president
George will retire in January on reaching retirement age, after 11-year tenure