Jerome Powell
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
Fed meets inflation surge with 75bp hike
Unexpected spike in inflation and expectations spurs committee into rare policy aggression
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021
Bernanke says Fed acted too slowly on inflation
Former Fed chair argues forward guidance hampered Fed’s response to rising prices
US Senate reappoints Powell as Fed chair
Appointment comes as Powell’s approval rating in polls falls to lowest point in his career
Fed makes first 50bp rate hike in decades
Central bank under pressure to curb inflation without crashing the economy
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
Fed mulls tightening on scale not seen for decades
FOMC members now contemplating 50bp rate hikes and major asset sales
US Senate to vote on Cook’s Fed governor nomination
Republicans continue opposition to Biden’s nominee but Democrats force full vote
Powell: ‘nothing’ in the way of a 50bp rate hike
Fed chair is hoping to even out supply and demand imbalances in the labour market
Fed triggers lift-off with 25bp hike
FOMC cuts economic growth projections for 2022 but proceeds with tightening
Biden orders CBDC report from Fed and other agencies
Report must advise on how possible CBDC would affect US security and sovereignty
FOMC adopts new ethics rules on trading
Fed reforms follow months of controversy over equities trading and three resignations
US Senate Republicans stall Fed nominations
Raskin denies opposition lawmakers’ allegations that she engaged in untoward lobbying
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
Fed chair makes case for renomination
Powell needs 50 votes and may need at least three Republicans to side with his reappointment
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
BIS and Fed launch New York ‘innovation centre’
Fed has mandate to “understand and, in some cases, manage” technological change, says Jerome Powell
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month