Federal Reserve System
US citizens report better financial health than pre-pandemic
Financial wellbeing boosted by government support and return to work, central bank says
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
Diversification makes gold shine brighter – panellists
Negative sovereign yields boost gold’s attractiveness among reserve managers
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs
Asian reserves proved more resilient in Covid crisis – reserve managers
Limited use of Fed’s ‘Fima’ facility highlights improved reserve management, says panellist
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, Stephanie Aaronson says
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Average inflation targeting could cut inequality – Fed paper
‘Hank’ models tend to be supportive of Fed’s new approach to inflation targeting, research finds
Covid-19 could depress growth for decades – Jackson Hole paper
"Pyschological scarring” could severely stunt future investment, researchers argue
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
DLT could improve US payments – Fed team
Fed’s “FooWire Project” built simulated payments network using DLT platform
Bank of Canada seeks public views on inflation targeting
Canadian central bank aims to increase public engagement with monetary policy review
Fed paper looks at different CBDC types
“Account-based”, “cash equivalent” and “hybrid” CBDCs all have varying advantages – researchers
Stress test results affect consumer credit – Philadelphia Fed paper
Banks reduce credit supply after worse-than-expected stress test results, researchers find
Former Fed officials urge Senate to reject Shelton
Trump nominee’s views are “extreme”, officials say, as two Republican senators pledge opposition
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed chief supports average inflation targeting and worries about Treasuries market and non-bank regulatory weakness
Book notes: The menace of fiscal QE, by George Selgin
Much of this book is even more relevant, thought-provoking and important following Covid-19
Boston Fed and MIT collaborate on digital currency research
Research results on software architecture will be released as open source
Fed picks G+D to develop ‘next-generation’ currency processing
German firm developed new prototype for the Fed to maximise speed and accuracy
New Fed discount window could ease bankruptcy crisis – researchers
Many companies may not endure a further liquidity shock
IMF urges broad shake-up of US financial stability framework
Rapidly changing financial landscape poses challenges for the complex oversight framework, IMF says