Federal Reserve System
US policy tightening heightens chance of crisis for close partners, paper finds
Countries should diversify their global trade exposure, Federal Reserve economists say
Fed vice-chair backs further tightening
Clarida says data likely to support further rate hikes as Mester warns US is “beyond full employment”
New York Fed files to dismiss narrow bank lawsuit
“The costs are real and continuing”, TNB says, as the New York Fed continues to delay
Former Fed chair laments US disarray
“How can you run a democracy when nobody believes in the leadership of the country?”, Paul Volcker asks
Chile hikes on higher inflation expectations
Tighter US financial conditions contribute to decision
US regulatory sanctions lead to banks cutting credit costs – Finnish paper
Sanctioned banks cut loan costs by 22bp on average, researchers find
Further US tightening risks recession – St Louis Fed president
Bullard says rates “don’t have to go anywhere” but Bostic warns of potential overheating
Is Donald Trump undermining the Fed’s independence?
Persistent commentary could impact policy-making, but dialogue is necessary, says one observer
Fed’s QE programme changed US corporate financing – BdF paper
Conventional monetary policy and QE have very different transmission mechanisms – researchers
Daly favours Fed’s gradual normalisation policy
The San Fran Fed president will be voting in the next FOMC meeting on November 7-8
Fraud growing faster than non-cash payments, Fed finds
Cases of payments fraud are getting smaller but more common, survey finds; introduction of chip-based cards appears to have helped reverse the trend
Draghi warns of dangers of ‘cliff-edge Brexit’
ECB president says some governments are endangering central bank independence
Stress tests are ‘most significant’ regulatory outcome of crisis – Hirtle
New York Fed official says stress tests created “safe environment” for banks to raise capital
Volatility in equities may soon influence Fed policy, says Moody’s economist
US equity sell-off may be due to Fed policy, says John Lonski
Lagarde defends rate hikes as Trump calls Fed ‘crazy’
“I think the Fed has gone crazy”, US president says
Williams says Fed policy is almost normal
In achieving Fed’s mandate, “this is about as good as it gets”, New York Fed president says
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
Lower bound not a big constraint for the Fed – paper
Risks of Fed being constrained in the future are “greatly overstated”, author says
BIS paper finds trade-off in forward guidance
Forward guidance may deter economic growth, authors say
Bank lawsuit pushes Fed to rethink monetary system
The Narrow Bank has the potential to alter how the Fed conducts monetary policy
Solid US economy contributes to higher 10-year Treasury yields
Inverted yield curve less likely as long-term growth and inflation expectations rise
Fed assessing effects of community bank closures in rural areas – Quarles
Decline in community banks over last two decades concentrated in institutions with less than $100 million
Fed aims for real-time interbank settlement of faster payments
Brainard points to “growing gap” in US transaction capabilities
Fed could change capital rules for bigger banks – vice-chair Quarles
Deregulatory act had already softened regulations for banks with below $100 billion, up from $50 billion