Federal Reserve System
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
Law could help central banks fight the next recession
Brookings panel discusses using countercyclical regulations to boost spending at the ZLB
Fed proposes new capital rule for insurance firms
Fed does not anticipate firms would have to raise new capital
Macro-pru is no panacea
Many central banks need better macro-pru frameworks
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent
Inflation targets may have to rise, new study finds
Optimal policy would see targets rise by roughly the same amount as the decline in neutral rates
Fed floats new stress test reforms after industry pressure
Previous proposal drew criticism from major global banks
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say
FOMC members appear split as meeting nears
Rosengren says “no immediate” need to cut, while Bullard urges Fed to take “aggressive” steps
People: Banque de France deputy nominated to EU Commission
Additional appointments in Turkey, the US and at the Financial Stability Board
Fed balance sheet could surpass crisis-era peak by 2025
Central bank may start buying Treasuries outright this year – New York Fed report
Modernising currency management
Central banks strive to optimise currency operations, even as relative importance of cash drops
Fed economists propose alternative to floor system
Pre-crisis BoE framework may preclude need for further ‘technical adjustments’, researchers say
Inflation edges higher as Fed prepares for next meeting
Consumer spending boosts economy, but recent sentiment data suggests it could be about change
A key message from Jackson Hole: policy must globalise
Setting policy in isolation is becoming untenable and spillovers must be considered more, remarks suggest
San Fran Fed president ‘biased’ towards a hot economy
Gains from a hot economy disproportionately flow to disadvantaged groups, Daly says
US senator calls for hearings on Fed’s role in 2020 elections
Republican accuses former NY Fed chair Dudley of trying “sabotage” Trump’s trade talks
Fed should scrap apolitical stance, urges former senior official
Dudley says Fed should set rates with Trump’s re-election chances in mind
BdF paper looks at FOMC hawks and doves
Predictions of rate-setters with hawkish reputations often biased towards higher inflation – researcher
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%
Powell treads cautious line in Jackson Hole remarks
Chairman gives few clues to future policy; Trump appears unimpressed with the address
FOMC divided over July cut, minutes show
Some FOMC members worried by effect of rate cut on US financial stability
Trump attacks ‘horrendous lack of vision’ by Powell
President calls for return to crisis-era policies; acknowledges strong dollar is harming other economies