Federal Reserve System
FOMC members rarely change their preferences – paper
Researchers find policymakers tend to form their preferences early on in life
Powell says central banks cannot take independence for granted
Leading governors reflect on the future of central banking at Riksbank’s 350th anniversary
Fed’s Evans: central bankers not about to be replaced by machines
Chicago Fed president says uncertainty over technological disruption leaves plenty of room for human judgement
Podcast: San Fran Fed’s Daly on gender inequality in central banks
Mary Daly on the importance of role models in improving central banks’ gender balance
Most FOMC participants say they may raise rates ‘soon’, minutes show
Data show US unemployment falling to lowest point since December 2000
Fed survey reports increased US economic prosperity
Inequality across ethnic groups, regions and educational levels remains a key economic factor
US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
Higher interest rates prove a challenge for reserve managers
Argentina has lost 14.3% of its reserves since late April trying to defend the peso; central banks can employ accounting methods to handle turbulence, expert says
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
Brainard ‘optimistic’ DLT has future in financial services
While privacy remains a concern, Fed board member believes resilience of the technology means it has a future, even if crypto dies out
Fed nominees back regulatory efficiency drive
Nominees stick to efficiency line despite hostile questioning from some Democrats
The toxicology of post-crisis shadow banking
Mark Carney tempted fate in 2017 when he declared the most toxic forms of shadow banking “no longer represent a global stability risk”. Did he speak too soon?
Adrian and Rey: macro-prudential tools needed to resist ‘bad booms’
Economists say monetary policy cannot fully control local conditions; Hélène Rey calls for improved early warning models
Dollar may soon give breathing space to emerging economies
Global growth, higher US debts and a tighter ECB policy could weigh on the currency
Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016
Atlanta’s Bostic concerned by ‘proliferation of models’
Regional Fed chief says more needs to be done to understand how machine-learning algos could contribute to a major shock
Voluntary reserve targets can aid transmission – Fed paper
Voluntary targets could help central banks set policy more effectively
US ‘normalisation’ should be manageable for emerging economies – Powell
Turkey and Argentina grapple with weaker currencies as US Treasury yields rise
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
‘Black box’ models present challenges – US regulators
US officials say they have some powers to assess AI tools, but resourcing is problematic