Donald Trump
How staff exodus could leave the OCC high and dry
A third of staff set to depart US regulator, but some teams will suffer much heavier losses
India maintains wait-and-see approach with rates hold
RBI’s governor says effects of previous easing cycle and US tariffs have yet to play out
FX turnover surges 28% to nearly $10 trillion a day – BIS
Triennial survey finds euro has overtaken dollar in OTC interest rate derivatives market
DFAST monoculture is its own test
Drop in frequency and scope of stress test disclosures makes it hard to monitor bank mimicry of Fed models
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
Fed eases by 25bp as concerns grow over US labour market
Experts differ over impact of tariffs on inflation and unemployment
Senate confirms Miran, while court allows Cook to stay
President’s nominee and person he tried to fire will both attend this week’s FOMC meeting
Cook wins latest round in battle against dismissal from Fed
Court rules that Trump does not appear to have sufficient grounds to fire governor ‘for cause’
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
Powell indicates policy shift at Jackson Hole
The Fed chair says the balance of risks appears to be shifting; FOMC no longer plans to overshoot inflation target
People: July to September 2025
A round-up of central bankers in the news and on the move during the past three months
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Fed’s new leverage ratio: the horse that never left the gate
Most of the biggest dealers aren’t leverage constrained now, and experts are sceptical that banks will use the extra capacity for Treasuries
People: BSP appoints new deputy governor for supervision
Plus: Kenya lines up Nokia’s country chief for seat on board, and head of US crypto council steps down
Trump picks Miran to replace Kugler on Fed board
Adviser set to take up role until January as president continues search to replace Powell as chair
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
People: Bowman to chair FSB supervisory committee
Plus: New governor in DRC and Rwandan deputy governor steps aside to become PM
Kugler’s resignation from Fed opens door for Trump, say experts
Governor’s departure could enable president to appoint “shadow chair” to further undermine Powell
Trump should not have fired head of stats bureau, say experts
Economists say dismissal undermines trust in official data, along with president’s arguments and democracy itself