Federal Reserve System
Logan says FOMC should cut ties with federal funds rate
Dallas Fed chief says repo markets are better alternative to ‘outdated’ target
Trump’s shadow looms over review of regional Fed heads
Experts say president could use process to further erode bank’s independence
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Powell and Bowman diverge on tariff and price risks
Fed chair and vice-chair for supervision both express concern for labour market
Miran praises tariffs, deportations and deregulation
Trump appointee says interest rates should be 200bp lower in first speech as governor
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Trump takes Cook’s case to supreme court
US solicitor general argues determining ‘cause’ is at president’s ‘unreviewable discretion’
Book notes: Private finance, public power, Peter Conti-Brown and Sean H Vanatta
A detailed history of bank supervision in the United States from 1789 to 1980
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