Federal Reserve System
China holds and Hong Kong cuts after Fed eases
PBoC leaves seven-day repo rate unchanged as HKMA eases policy to maintain dollar peg
Fed eases by 25bp as concerns grow over US labour market
Experts differ over impact of tariffs on inflation and unemployment
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
Senate confirms Miran, while court allows Cook to stay
President’s nominee and person he tried to fire will both attend this week’s FOMC meeting
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
US consumers’ expectations of finding work hit new low – study
Mean perceived probability of a newly unemployed person finding a job fell to 44.9%
Cook wins latest round in battle against dismissal from Fed
Court rules that Trump does not appear to have sufficient grounds to fire governor ‘for cause’
US faces recession unless trade tensions abate – economists
Experts expect Fed to cut rates as economy experiences first job losses since 2020
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
Miran claims climate work is real threat to Fed independence
Nominee would ‘forcefully push back’ on bank incorporating global warming risks in its assessments
Senate unlikely to replace Cook during litigation
Republicans on key committee will not consider nominees until court rules on legality of her dismissal
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
People: ECB creates task force to simplify regulation
Plus: Kocher takes over as head of Austria’s central bank
How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
How to solve the Fed’s $300bn FRTB problem
A sacrifice will have to be made to ensure new market risk rules meet demands for capital neutrality
Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
Bank notes: July to September 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Powell indicates policy shift at Jackson Hole
The Fed chair says the balance of risks appears to be shifting; FOMC no longer plans to overshoot inflation target
US consumer spending resilience hides inequalities – research
Low-income consumers’ credit card debt has risen substantially since 2019
Eurozone unemployment stats may understate slack – research
Authors say they have created an indicator with important monetary policy implications
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.