Federal Reserve System
Global markets show signs of strain as Russia sanctions bite
Flight to safe havens is starting to create tensions in dollar funding markets
US regulators fine Pakistani state-owned bank
Central bank-owned NBP will pay more than $55 million for AML shortcomings
Stablecoin risks raise need for CBDC research – Brainard
ECB’s Panetta says “stablecoins are not money”, as Brainard weighs CBDC as possible alternative
Fed’s Brainard backs series of rate hikes followed by asset runoff
Governor says economy is responding appropriately to Fed communications and incoming data
FOMC adopts new ethics rules on trading
Fed reforms follow months of controversy over equities trading and three resignations
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
US Senate Republicans stall Fed nominations
Raskin denies opposition lawmakers’ allegations that she engaged in untoward lobbying
Fed to stress-test banks’ commercial real estate exposures
The Fed will look at lending capabilities under ‘severe’ economic conditions
Boston Fed appoints Susan Collins as new president
University of Michigan economist to become first Black woman to lead a regional Fed
Fed paper explores stablecoins’ impact on financial system
Researchers say stablecoins could be a ‘digital safe haven’ during volatility, but design choices matter
Picking up the pieces: how to tackle the next phase of the Covid crisis
The global economy is heading into dangerous territory, writes Jagjit Chadha. Central banks must honour their commitments to price stability
Chilean central bank hikes rate more than expected
Central Bank of Chile says inflation and economic activity is rising faster than its forecasts
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
IMF pares back forecasts as world faces ‘multiple challenges’
Omicron variant, supply disruptions and inflation threaten to hold back recovery, says Gita Gopinath
Fed keeps investors guessing on speed and endpoint of tightening
Investors generally agree the Fed will tighten policy, but how much and when are unclear
Experts divided over Fed’s ‘intermediated’ approach to CBDC
Observers praise the Fed’s conservative pace but criticise aspects of its hypothetical system design
Fed chair makes case for renomination
Powell needs 50 votes and may need at least three Republicans to side with his reappointment
Biden nominates three to Fed board
Republican senator signals likely opposition to president’s pick for top supervisor
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Fed’s Clarida resigns after latest trading revelations
Vice-chair departs 17 days early after new disclosures about equities sales
Fed’s Clarida reveals large pre-pandemic equities trades
Departing vice-chair files amended disclosure forms, reigniting criticism of Fed leaders
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Afghanistan’s frozen assets trigger controversy as harsh winter looms
Cash that is “desperately needed” by ordinary Afghans remains frozen in overseas central bank accounts
Fed’s Waller says federal funds rate should rise soon after QE ends
Fed governor hints at tighter policy and offers lessons from the pandemic