Janet Yellen
US and China set up economics and finance working groups
Officials will report to US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng
G20 promises greater funding for World Bank
US-led effort could unlock $200 billion of funding capacity, if countries follow through on pledges
US Senate confirms Jefferson and Cook for Fed posts
Upper house agrees to vote soon on Biden’s third nominee, Adriana Kugler
US Treasury bolsters ties with Vietnam’s central bank
Treasury secretary Janet Yellen says US will promote “friendshoring” with Vietnam
Biden nominates Jefferson as Fed vice-chair
President chooses first Latinx candidate for Fed board, and names Cook for full term
Biden may nominate Kugler, promote Jefferson on Fed board – reports
Adriana Kugler would be the first Latinx Fed governor in the central bank’s 109-year history
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Yellen flags ‘contagious bank run’ risk
US Treasury secretary pledges small banks will gain 100% deposit insurance if needed
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
FATF suspends Russia and grey-lists Africa’s largest economies
South African president pledges rapid reform as Yellen hails action against Russia
World Bank president to step down in June
Malpass to leave office early in June after sparking climate change controversy
World Bank’s model ‘insufficient’ for global threats – Yellen
US Treasury secretary says institution needs to do more on climate change
Lael Brainard may take White House post
Biden could ask Federal Reserve vice-chair to lead economic council, reports say
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