Donald Trump
IMF forecasts lower US growth than Fed, Congress and White House
Stimulus expected to yield higher growth in the short term, but the benefits are likely to fade away from 2020
Trump’s fiscal policy threatens emerging markets – Lagarde
Looser fiscal policy could increase market volatility and worsen global imbalances- IMF chief
People: US Senate committee approves two Fed governors
Philippines appoints monetary board member; Cleveland Fed appoints director at Pittsburgh branch
Trump appears to pre-signal strong jobs data
US jobs report shows large increase in jobs and further drop in unemployment
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
ECB stresses protectionist risks in economic bulletin
US administration announced plans to impose tariffs on steel and aluminium in March
US will implement trading book reforms, insists Fed official
“I don’t know why people doubt” US adoption, says Lynch
US steel tariffs likely to damage labour market – NY Fed research
Exporters who need steel imports face higher input costs, possibly leading to lower employment
Xi pledges to open up economy amid trade tension
China’s president adopts soothing tone, but some observers complain his remarks do little to change the situation
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
Dudley goes against Trump’s protectionist line
New York Fed president criticises protectionism as Donald Trump steps up rhetoric; questions value of excessive reserves accumulation
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
US real GDP growth accelerating in 2018 – Atlanta Fed
The real-time index GDPNow forecasts an annualised expansion of 4% in the first quarter
Bank of Mexico hikes again as inflation remains high
The prospect of tighter policy in the US affects the monetary decisions in its major southern trading partner
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Higher inflation in the US could accelerate Fed’s tightening
US Treasury yields rise as GDP growth accelerates and inflation expectations increase
New US tax plan promising for growth – Fed minutes
FOMC members revise the growth outlook upwards for next 12 months, as tax cuts promise to provide “some boost” to consumer spending
2017: The year in review
Over the past year, the global economy regained some strength, and some central banks began to return their policy to normal; but it was not all smooth sailing
Bank of Mexico hikes rates as inflation rises
Central bank resumes tightening path as Mexican economy faces trade and currency challenges
Diversified export markets may offset Mexican Nafta showdown
Bank of Mexico sees a failure to renegotiate the trade deal as the biggest risk to the economy
BIS top body poised to approve Basel III
The GHOS meets on December 7, and all signs indicate it will finally give Basel III the green light
Mexico raises minimum wage above inflation
Central bank warned about inflationary pressures that an excessive increase may create
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
Softened liquidity rule would still be misguided – US asset managers
The Treasury proposals are welcome, firms say, but a watered-down SEC rule would leave risks unaddressed