Federal Reserve System
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
The Central Bank of Morocco governor speaks with Christopher Jeffery about Covid-19 policies, Fed tightening, BIS membership, regional co-operation and financial inclusion
US will take ‘some time’ to decide on CBDC, Powell says
Fed chair says it must act to prevent inflation expectations rising
Cyber induced bank runs pose “huge risk”, says Richmond Fed’s Barkin
Banks lack proper cyber security metrics and should learn from other firms, argues senior Fed official
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate put pressure on divided governing council
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Fed’s QT reaches maximum as critics warn of stability risks
Former RBI governor Rajan and co-authors argue QT may pose risks for financial stability
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
FedNow scheduled for mid-2023 launch
Bowman and Brainard see CBDC substitution and cloud technology advantages
US household debt rising across the board
Delinquencies for subprime loans are approaching their pre-pandemic proportion
Powell promises ‘forceful’ action to reduce inflation
Fed chair warns against premature loosening and says cutting inflation “will take some time”
Inflation targeting’s time may be over, Adam Posen says
Posen says changes to global economy may necessitate complete rethinking of monetary policy
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
Fed issues guidance for banks using crypto assets
Federal Reserve seeks more disclosure from banks holding crypto
Housing affordability dropping across the US
Fed’s large rate hikes and constrained housing supply create tough market for buyers
Fed paper explores information problems in financial panics
Tight liquidity can cause investors’ beliefs to become “systematically divorced from fundamentals”
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Fed governors still talking tough on inflation
Lower inflation expectations and CPI come as positive signals for the path ahead
People: Pimco re-hires Fed’s Clarida
Burundian president replaces central bank chief; Israeli research chief stepping down