Federal Reserve System
Microfinance improves access to bank credit – Fed paper
Study finds Rwandan initiative built credit record and made bank loans more accessible
US regulators to align policies on lower income lending
OCC backs down on separate CRA rules and starts joint consultation with Fed, FDIC
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
Mountfield to become World Bank vice-president, sources say
More people news: Atlanta Fed names senior VP, and Fed’s first supervision head goes to US Treasury
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
US faces surge in actual and expected inflation
Data shows 5.4% CPI inflation over past year and consumers expect 4.8% rise over next
Minneapolis Fed requires all staff to be vaccinated
Most other regional Feds say they “encourage” staff to get immunised
Fed still lags on diversity, says campaigners’ report
Campaigners say regional bank leaders still mostly white, male and from big business
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
Unemployment has non-linear relationship to inflation – Fed paper
Authors say their findings could be relevant to debates over inflation targets
Could higher US inflation boost euro’s international role?
Divergent rates of inflation may compel investors to look for alternatives to the dollar, panellists say
Trust and comprehension seen as more important than audience size
Central bankers see trust as the most important measure of communications effectiveness
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting
IMF agrees with Fed on ‘transitory’ inflation
Georgieva says recent inflation spike likely to pass; supports Biden’s fiscal plans
US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
The role of individuals in guarding against inflation
External pressure may test governors’ resolve as inflation climbs, say former officials and academics
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
CBDC: the case for ‘wait and see’
Despite growing interest, some central banks are staying out of the digital currency game