Janet Yellen
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
Development banks need to change amid global threats – Yellen
“Extreme stress” and global threats demand rethink, says US Treasury secretary
US imposes sanctions on Russian governor
Treasury says Nabiullina and other officials have facilitated Russian invasion of Ukraine
US and Korea agree to set up liquidity facilities if necessary
It is still unclear whether the facilities would involve a currency swap line
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Yellen calls for new stablecoin regulation amid algorithmic crash
Terra, a leading stablecoin, lost its dollar peg as several crypto-assets fell
US Senate reappoints Powell as Fed chair
Appointment comes as Powell’s approval rating in polls falls to lowest point in his career
Yellen calls for IMF reform
US Treasury secretary says fund needs better “tools” to tackle crises as well as governance reform
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
James Bullard on Fed policy, action and governance
St Louis president calls for tapering, quantifies AIT and details Congress’s role in Fed ethics
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments, to support a large allocation of ‘official’ IMF SDRs
IMF executive board backs $650 billion SDR allocation
Allocation is set to be largest in the fund’s history, with launch expected in August
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Economics profession has a culture problem – Yellen
Former Fed chair says there is an implicit bias against women in economics
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
Otmar Issing on the art of central bank communications
EMU architect critiques “whatever it takes”, forward guidance, Fed’s AIT and ECB’s strategy review
Lessons from the Riksbank’s negative rates experiment
Sweden is the only nation to have implemented negative rates and then returned them to ‘normal’ territory. What can central bankers learn from the Swedish experience?
Biden to nominate Janet Yellen as Treasury secretary
Former Fed chair would become first person to have led central bank, Treasury, and Council of Economic Advisers