Federal Reserve Bank of St Louis
People: IMF finance department director to retire
Third new board member at Colombia central bank; Nigeria appoints deposit insurance head; and more
Central banks look to shockproof models in wake of Covid-19
The Covid-19 crisis caused many central bank models to break down. Economists at the St Louis Fed, Bank of Spain and ECB were quick to innovate and say they will continue testing new tools
Christopher Waller narrowly passes Senate vote
St Louis Fed economist approved for Fed governor role, despite opposition from Democrats
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
People: BoE governor appoints first female private secretary
St Louis Fed appoints new COO; new appointments at Kazakhstan’s sovereign fund and central bank; and more
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
US needs aggressive fiscal policy and negative rates – St Louis Fed economist
Policy response must be powerful enough to overshoot previous growth trend for a period, researcher says
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses due to Covid-19 are underscoring the central role non-banks play in crisis contagion, as in 2008. Were regulators better prepared this time?
Fed set to adopt ‘elements’ of price-level targeting
Covid-19 could act as a catalyst for a Janet Yellen-supported Fed move to adopt elements of price-level targeting. But questions remain about the timing of such a move
Mass testing ‘would end crisis’ – Bullard
Government should foot bill for Covid-19 test production, Bullard says
Podcast: adapting economic education for demographics and fintech
St Louis Fed’s Mary Suiter discusses the reserve bank’s new programme for Native American economic education
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
US unemployment could hit 32%, St Louis Fed says
Unemployment insurance claims see greatest ever post-war rise
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
St Louis Fed researchers deconstruct US inflation
Slower growth in energy, healthcare and housing prices contributed to lower inflation in recent expansion, researchers find
St Louis Fed president calls for standing repo facility
Facility would solve “almost all” of the Fed’s problems in controlling rates, James Bullard says
Regional Fed presidents differ starkly over US economy
Boston Fed president warns of easing risk creates risks, but St Louis Fed chief says manufacturing is in recession
Raising CCyBs could have ‘greatly mitigated’ 2008 crisis – St Louis Fed paper
Policy-makers could have avoided a fall in aggregate consumption of 21%, researcher finds
St Louis Fed’s Bullard warns about rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
US bank competition weaker than thought – St Louis Fed paper
Measuring off-balance sheet actives shows some banks have 10% more pricing power, says researcher
Senior Fed officials weigh in on potential rate cut
Bullard, Brainard, Clarida and Kashkari highlight strengthened case for cuts, while Kaplan warns on financial stability implications
Construction trends can predict yield curve inversions – St Louis Fed
Housebuilding expectations should be considered when forecasting economic activity, researchers say