Federal Reserve System
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
The role of individuals in guarding against inflation
External pressure may test governors’ resolve as inflation climbs, say former officials and academics
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
CBDC: the case for ‘wait and see’
Despite growing interest, some central banks are staying out of the digital currency game
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
NGFS has ‘momentum’, but faces obstacles – Després
Lack of data and frameworks hamper climate mitigation, says Banque de France official
The Central Banking Awards 2021 virtual ceremony
View the trophy presentations, acceptance comments and future predictions from the winners of the eighth annual Central Banking Awards
US CPI inflation reaches 5%
Figures follow predictions of “transitory” inflation rises by senior Fed officials
Yellen: ‘slightly higher interest rate’ would be fine
Treasury secretary says US should push forward with spending plans
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
New York Fed to begin SMCCF bond sales
Federal Reserve plans to offload $13.7 billion in corporate debt bought as pandemic measure
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
NY Fed prepares to sell corporate bond portfolio
Holdings of $13.7 billion were bought under emergency SMCCF programme
How the Fed’s Fima addressed the 2020 dollar liquidity shortage
The fifth chapter of HSBC's Reserve Management Trends 2021 explores how the Fed's repo facility supported markets during the Covid-19 pandemic
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
RBI faces dilemma from US policy spillovers – BIS paper
Authors highlight evidence of “contractionary devaluation” when US monetary policy tightens
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases
A return of the inflation monster?
There are fears that a shift in intellectual approach towards running economies ‘hot’ could herald a return of the money-eating inflation era
ECB should adopt symmetric 2% target with AIT – US economist
Academics and former officials say ECB’s new policy framework needs to be nimble to react more quickly to inflation changes
Should the Fed’s Fima facility be made permanent?
The emergency repo facility reassures reserve managers about access to dollar cash during a breakdown in the US Treasuries market
People: Erdoğan fires deputy governor
South Korea appoints new sovereign wealth fund chief; Fed lawyer moves to OCC; and more