US Congress
Boston Fed appoints Susan Collins as new president
University of Michigan economist to become first Black woman to lead a regional Fed
Biden nominates three to Fed board
Republican senator signals likely opposition to president’s pick for top supervisor
Fed’s Clarida resigns after latest trading revelations
Vice-chair departs 17 days early after new disclosures about equities sales
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
Senators introduce Fed ethics law
Democrats’ proposals would put board’s ethics rules on statutory footing and impose fines
Is Powell still on track for second term?
Despite scandals and vocal criticism, support still looks likely to outweigh opposition
Fed announces strict new trading rules for senior officials
Regulations would ban individual investments, increase disclosure and restrict transactions
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery
Fed asks watchdog to review controversial trading
Move follows resignation of Boston and Dallas heads, as Warren asks for SEC probe
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
IMF urges broad shake-up of US financial stability framework
Rapidly changing financial landscape poses challenges for the complex oversight framework, IMF says
Biden promises new Fed mandate on racial inequality
Democratic candidate wants Fed to take responsibility for economic concerns of Black Lives Matter movement
US facing new challenges as Covid cases surge – Powell
Powell warns of public confidence hit as US infections soar past previous peak
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding, write Wenhao Li, Yiming Ma and Yang Zhao
High US inflation should not be ruled out
A prolonged health crisis raises the risk that supply-side factors, monetary expansion and rising personal savings could stoke hidden inflationary pressures
Final Fed lending facilities to go live this month
Complexity of main street facility has been “in a class by itself”, Jerome Powell says, as lawmakers criticise delays
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy Native American and African-American populations