Federal Reserve System
Trump criticises ‘clueless Jay Powell’ as markets plunge
US equity markets face sell off and 30-year treasuries dip below 2% for first time
Fed paper looks at negative rates’ impact on eurozone banks
Effects of policy rate cuts on equity change past the zero lower bound, researchers say
Derivatives users split over legacy Libor swaps
CCPs say cleared swaps will move to new rates if Libor is no longer representative of markets
IMF sets up new monetary policy modelling unit
Fund responds to criticism from IEO report
NY Fed splits markets group and seeks two EVPs
Monetary policy implementation to be split from markets group after Potter’s departure
The future of balance sheet policies
What tactics will central banks deploy?
Former Fed chairs stress importance of central bank independence
President Donald Trump has repeatedly criticised chair Jerome Powell for keeping interest rates too high
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Fed aims for 24/7 instant payment system in US
FedNow Service should be available in 2023 or 2024, and Fed promises upgrade to existing systems
Powell says Fed will decide on 24/7 RTGS system ‘soon’
Fed under pressure to act amid flurry of legislative activity around payments
Hurricane forecasting has ‘significant effects’ on financial markets – Fed
Cutting forecast errors could reduce additional volatility, researchers say
Bank of Israel unlikely to raise rates in the near future, says governor
Israel sees monthly inflation drop below target range
Trump says Powell ‘let us down’
US president calls for looser policy and criticises Fed as Powell gives no clues on future path
Fed cuts rates and halts balance sheet reduction
Decision sees hawkish dissents from Kansas and Boston Fed presidents Esther George and Eric Rosengren
Markets diverge on how far Fed will go
“There may be volatility in the markets later this week,” Fed-watcher says
Proposal to axe Phillips curve triggers controversy
“One cannot just ignore an equation,” retorts Olivier Blanchard
Fed demands further analysis on HSBC resolution plan
Fed also questions six other large banks on assumptions made in plans, letters reveal
Fed researchers gauge tightening from balance sheet normalisation
Tightening is ‘modest’ compared to accommodation provided by asset purchases, researchers find
Fed’s floor could be ‘junked’ if credit surges – Goodhart
Credit demand and plentiful liquidity could be potent inflationary mix, Charles Goodhart says
St Louis Fed’s Bullard warns about rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
Unexpected market news weakens fund liquidity – paper
Findings important for understanding systemic risk of firms during times of stress, researchers say
Cash no longer US’s most popular means of payment
Debit cards were the most frequently used means of payment in 2018, Fed report finds
FOMC considers using repo facility
But some committee members warn over possible financial stability risks
Senior Fed officials diverge on future rate policy
Richmond Fed president Tom Barkin not convinced inflation concerns warrant a cut