Federal Reserve System
Fed policy-makers disagree over risks
Williams and Goolsbee say policy is restrictive but Logan takes different view
Slight majority of US consumers ‘warm’ to CBDC, survey says
Respondents most interested in free use and widespread market adoption, Philadelphia Fed finds
AI threatens labour’s share of income, research finds
AI could increase inequality and social unrest, Philadelphia Fed paper argues
Monetary policy may have counterintuitive housing price effects – research
Researchers from the Dallas Fed say indirect effects may undercut policy’s aims
Two Fed governors say there is no need for rapid rate cuts
Cook and Waller call for caution but welcome some labour market developments
Federal Reserve posts largest operating loss ever
As of March 21, the Fed owed $157.8 billion to an accounting device, a “deferred asset”
Dallas Fed analysis explains puzzle of strong US economy
Authors say US has enjoyed favourable supply-side conditions that others missed out on
US fiscal stimulus boosted vehicle price pressures – Fed research
Vehicle sales driven by consumer and small business stimulus, say Fed researchers
Debt-related driving bans create instability – Fed research
Punishments disproportionately affect low-income and minority communities
Switch to gold standard could stabilise prices – Philadelphia Fed research
Hypothetical return to monetary system would only lead to short-term price movements, study finds
Some US banks vulnerable due to non-deposit funding, paper finds
Banks reliant on capital markets saw profits fall during tightening cycle, researchers say
US should tighten macro-pru to reduce recession risk – BdF study
Research recommends higher capital requirements and counter-cyclical buffers
Stablecoins show ‘flight to safety’ dynamics – NY Fed paper
Researchers argue these runs on stablecoins could cause wider financial instability
Current US wage trends may be here to stay – NY Fed research
Researchers present new tools for predicting wage growth in US
‘Cost of money’ explains depressed US consumers – NBER research
Larry Summers and co-authors highlight “disconnect in inflation measurement”
Fed governor says rate cuts shouldn’t be rushed
Christopher Waller argues that US economy is strongly positioned
Pandemic inflation fuelled by food and energy prices – BoJ study
Inflation in Japan and US driven by similar product market shocks, research finds
South Korean and Indonesian central banks hold rates
BoK says policy will remain restrictive for now, while BI highlights need to keep inflation stable
US CBDC ‘could enhance dollar’s international role’
Fed research claims issuing digital currency could increase demand for dollars more generally
‘Brace, brace’: quants say soft landing is unlikely
Investors should prepare for sticky inflation and volatile asset prices as central banks grapple with turning rates cycle
Fed does not need to evaluate ‘last mile’ of inflation differently
Atlanta Fed economist says overly aggressive approach could trigger hard landing in US economy