Federal Reserve System
Strong growth and lower unemployment allows Fed to normalise policy, Yellen says
Outgoing chairwoman adds policy is not preset and will depend on economic data
Slower health care price rises limiting US inflation, San Francisco Fed paper says
Medicare prices rise by 1.1% annually since 2012, compared with 3.5% in mid-2000s
Powell to explain policy outlook before US Senate
Nominee set to defend loose policy stance and independence of central bank as new chair
Ultra-low rates hampered productivity in US, researchers find
A slower pace of policy normalisation can help boost productivity and growth
December hike in focus despite FOMC inflation worries
Some Fed policymakers fret that inflation expectations are too low to bring inflation back to target, but broad view is of an economy gathering pace
Do not assume history will repeat itself – Yellen
In conversation with Mervyn King, Janet Yellen reflects on her four years in office as Fed chair, saying there was not time for champagne on her first day
People: Yellen to leave Fed in February; Curaçao names temporary governor
Janet Yellen to step down from Fed board; retirement crisis sees flurry of appointments at Curaçao and Sint Maarten; Carstens hands in chairmanship at IMFC; and more
TCH launches real-time payment platform in US
Firm launches US’s first real-time payment system, cutting transaction times from days to seconds
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
Fed’s Harker ‘pencils in’ rate hike for December
Philadelphia Fed governor expects rates to rise 25bps before 2018, adding balance sheet normalisation is likely to “take some time”
Bernanke, Geithner and Paulson to conduct forensic analysis of 2008 crisis
Protagonists of US crisis response to lead research into detailed design choices behind the main measures taken
Fed’s Quarles wants more transparent and simple financial supervision
Vice-chairman stresses importance of clearly conveying objectives of regulation and supervision
Dudley: use ‘paring knife not meat cleaver’ on Dodd-Frank
New York Fed president accepts that some elements of Dodd-Frank could be improved, but also says vulnerabilities remain
Eurosystem is less transparent and efficient than Fed, research finds
European central banking structure is twice as expensive as its US equivalent
ECB defends Draghi’s membership of G30 to EU watchdog
ECB praises chance for “dynamic debate” and rejects NGO’s claim of lack of transparency
New York Fed’s Dudley set to retire early
William Dudley says he wants to ensure a successor is in place “well before” the end of his term
People: Powell and Yellen comment on Fed chair pick; FPC member appointed
Nominee as Fed chair praises predecessors; UK’s FPC has new external member; and more
Trump nominates Jerome Powell as Fed chair
As a Fed governor, Powell has never issued votes of dissent against FOMC decisions
FOMC shrugs off hurricane damage
Rates on hold as committee judges economy to have weathered damage from two hurricanes
US senators chase regulators on Treasury market reform
Crapo and Warner push regulators to ensure reforms to improve transparency are still in the pipeline; gaps in data remain a concern
People: MAS appoints cyber security chief in management reshuffle
MAS makes promotions including first chief cyber security office; Visco confirmed; Republicans turn on Yellen; Richmond Fed picks CFO; new chief of staff in Paraguay
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
Interview: Edward Prescott
The Nobel Prize-winner speaks to Daniel Hinge about time inconsistency and real business cycle theory, and explains why there is no ‘productivity puzzle’