Federal Reserve System
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
Fed independence under renewed fire from Trump
President unlikely to be able to fire Jerome Powell but could exert pressure in other ways, say observers
2018: The year in review
The past year marked a return to instability, but also saw some innovations among central banks
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
US regulators find ‘shortcomings’ in foreign bank living wills
Banks will have to correct the problems when they next file a resolution plan
Fed goes ahead with fourth hike of 2018
Policy-makers vote for hike despite volatility, but dovish language suggests growing caution
Fed’s communications may outweigh rate changes – Bundesbank paper
Researchers look at impact of Fed announcements and policy changes from 1994 to 2008
Yield curve inversions may become more frequent, researchers say
Richmond Fed study examines relationship between term premium and yield curve inversion
Fed presidents weigh in on December rate decision
Incoming data and recent speeches point to slightly more dovish outlook
Fed paper examines impact of liquidity rules on dealers
Dealers changed behaviour in response to reforms, but de-risking was already under way, paper finds
Kohn ‘deeply’ worried Fed might not have support to fight next crisis
Former Fed official discusses political implications of financial crisis after documentary screening
Brainard reboots calls for countercyclical buffers
“Countercyclical capital requirements build resilience, unlike monetary policy,” Brainard says
Falling offshore borrowing has helped shield Australia – RBA official
RBA’s monetary policy has not followed Fed’s normalisation
Podcast: How to fight the next crisis
In the last of the series, Yale’s Andrew Metrick warns we may be less prepared for crisis-fighting now than we were before 2008
Communication of monetary policy took back seat in financial crisis, researchers find
ECB press conferences transmitted non-monetary information in 65% of cases from 1990 to 2017, researchers find
Fed to expand market data collection efforts
The scope and availability of data must keep up with evolving markets, Lael Brainard says
Fed weighs future policy transmission framework
Implementing technical adjustments might be necessary, Powell says
Fed’s emergency lending facilities eased funding pressures, researchers find
Facilities likely avoided severe sale of assets at fire-sale prices, authors say
Markets may have misread Powell speech, analysts say
Trump intensifies criticism, but Fed likely to continue raising rates
Fed vice-chair calls for gradual normalisation
Inflation expectations may be lower than 2% target, says the Fed’s vice-chair
Non-bank lending could replace interbank market – Atlanta Fed paper
Basel III capital requirements and Fed’s QE are reducing US interbank lending, researchers say
Janet Yellen backs form of price-level targeting for Fed
Former chair says current system risks downward spiral of long-term rates
Increasing banks’ capital could enable looser regulations, says Greenspan
Former Fed chief discusses new book, ‘Capitalism in America, a history’, with journalist and co-author Adrian Wooldridge
Podcast: Post-crisis monetary policy
Many things behave like money in the modern economy and central banks have not yet figured out how to control them all, says Andrew Metrick