Federal Reserve System
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
Poorer areas in US have higher food inflation – research
Low-income areas also have less disinflation after shocks pass, Atlanta Fed study finds
Daly debates whether US is reliving 90s boom or 70s inflation
San Francisco Fed chief says getting answer right will help in formulating best policy response
No Fed G-Sib buffer reform in 2025, say experts
Recalibration of method 2 seen as more likely than its abolition; banks resist daily averaging
Tariffs not increasing activity or jobs in US manufacturing – study
Labour supply constraints and increased input costs are holding sector back, say Fed researchers
Ex-governor says Fed should use Treasury derivatives in crisis
Doing so could split response from monetary policy and hedge interest rate risks, argues Jeremy Stein
Banks grapple with Fed’s double deadline on stress-test plans
Supervisor consulting simultaneously on next year’s test scenario and broader model changes
Central banks speak opaquely to avoid overreaction – ECB study
Authors say institutions tend to communicate more clearly when they know their reputations are low
Cook: US labour market solid, inflation to remain elevated
Governor differs from fellow members of Fed board in first speech since Trump’s attempted dismissal
Posen predicts Supreme Court will side with Cook
However, PIIE president tells panel that justices are still likely to undermine Fed independence
Fed accepts wealth redistribution at top, says ex-Kansas City chief
Hoenig calls for new accord with Treasury, as fellow former governors defend Fed independence
Stress-test transparency: how much is too much?
The transparency drive to disclose bank stress-test results comes with costs
Fed cuts rates with dissenting votes in both directions
Risks to employment and prices split FOMC three ways
Former Kansas City Fed chief sounds alarm over banks’ leverage
Hoenig says largest lenders are not adequately capitalised for their risks
Bessent includes former Lehman banker on Fed shortlist
Rick Rieder joins Bowman, Hassett, Waller and Warsh in running to replace Powell
US long-term unemployment uptick worries researchers
Minneapolis Fed authors point to ‘large and consequential trend’ upwards
Fed researcher makes case for liquidity support for non-banks
Central clearing, liquidity regulations and balance sheet policies may be key, says author
Career concerns can lead to better FOMC voting – NBER paper
Study examines range of biases among Fed decision-makers
Waller proposes ‘skinny’ master accounts for Fed payment services
New facility would enable firms to access Fed services without having to go through third-party lenders
Machine-to-machine could be future of payments – study
Existing 402 web protocol, coupled with AI, could enable frictionless transactions, says author
US inflation regime persistently above target now – Fed economist
Price rises are broad-based and have significantly impacted expectations says researcher
Miran accuses FOMC members of alienating conservatives
‘Singling out one set of policies’ can make conservatives ‘feel they’re opposed to them’, said Miran
Powell defends policy stance and balance sheet
Fed chair stands firm, amid criticism from Bessent and others
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements