Federal Reserve Bank of Kansas City
Neural network can beat conventional forecasts – Kansas City Fed research
Deep learning model outperforms Survey of Professional Forecasters at all horizons
People: RBNZ continues reshuffle; Fed appoints payments leader
Mills to fill Bascand’s shoes at RBNZ as assistant governor moves to financial stability; St Louis Fed vice-president to initiate faster payments project for the US central bank; and more
Kansas City Fed explores sources of wage dispersion in the US
Paper explores relative importance of “lifetime differences” and “match-specific” factors
Kansas Fed paper looks at impact of recessions on US workers
Participation rate of “prime-age” workers most likely to vary with business cycle, paper says
Kohn worried about weight of expectations on Federal Reserve
The weight of expectations on the US Fed may be too high; the US is not as well placed as the UK to tackle another major crisis, says the former Fed vice-chair
Balance sheet not an ‘active’ policy tool for normal times, says Fed’s George
Reductions in Fed’s balance sheet should be on “autopilot”, says George; establishing a “sound framework” will be important
People: Riksbank’s Nessén takes on new advisory role; Albizu retains CMCA chair
Riksbank’s head of monetary policy takes on new board advisory role; Dominican governor reappointed by peers to serve as the CMCA’s chairman for another six years; and more
Kansas Fed’s George: 2017 will be ‘significant’ year for US payments
Esther George says major milestones in faster payment project will be passed next year – although some of the hardest work will follow afterwards
Esther George supports further rate rises unless outlook ‘significantly shifts’
Kansas City Fed president supports further rate rises unless economic outlook changes notably; normalisation justified by job increases and economic growth, she argues
Kansas Fed researchers bridge gap between forward guidance data and theory
Working paper identifies empirical effects of guidance at the zero lower bound, before finding a standard model of price rigidity largely replicates the results
Fischer upbeat on US inflation outlook at Jackson Hole
Fed vice-chair Stanley Fischer says there is ‘good reason’ to believe inflation will move higher as impact of rise in dollar and fall in oil prices dissipates
Case for higher inflation targets takes a knock at Jackson Hole
Thomas Jordan warns higher inflation ‘likely to be associated with considerable costs’ in longer run; academics see little benefit in the Federal Reserve targeting 4%
Yellen expects 'lift-off' later this year
Janet Yellen expects the Fed to raise the federal funds rate "at some point" in 2015 with full employment "coming closer into view" and inflation on track to return to 2% in the next few years
Markets having trouble grasping ‘data-dependent' policy, says Kansas City Fed director
Getting markets to understand the concept of data-driven monetary policy remains a big challenge, according to Kansas City Fed's Troy Davig
Esther George questions macro-prudential approach
Kansas City Fed president says macro-prudential approach ‘expects too much of tools for which our understanding is imperfect' in Philippines speech
‘Shadow' Fed funds rate suggests Fed should have loosened more following crisis
Kansas City Fed study says Fed should have been more active in early stage of ‘Great Recession' but also notes policy became ‘considerably' more accommodative over time
FOMC's Esther George wants rate lift-off ‘shortly' after end to taper
Kansas City Fed chief says banks are responding to low rates ‘as we should expect' and notes an all-time high of $600 billion of leveraged US loans were issued last year
Fed’s George backs ‘diversity of views’ in supervisory process
Kansas City Fed president Esther George says it is important that the interests of all stakeholders are reflected in a country’s supervisory structure
FOMC members unpick Fed's ‘no taper' decision
Jeremy Stein suggests clear-cut forward guidance for QE wind-down as several members highlight Fed's ‘communication challenge'; Esther George says decision poses a risk to future credibility