Jerome Powell
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
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
Powell’s remarks show Fed set for November taper
Markets remain calm as analysts agree Fed is intent on cutting back asset purchases in November
Strategies for change: central banks’ quest for diversity
Dedicated diversity strategies remain uncommon among central banks, despite growing recognition of the need for better minority representation
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
The Central Banking Awards 2021 virtual ceremony
View the trophy presentations, acceptance comments and future predictions from the winners of the eighth annual Central Banking Awards
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
‘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 – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
Powell announces forthcoming CBDC paper
Irrespective of US CBDC, Fed will help develop international standards, says chairman
The future of forward guidance
BNP Paribas Asset Management explores the current landscape around forward guidance, focusing on how central banks’ methods of communication are likely to evolve in the future. By Richard Barwell
Fed plays down US economic rebound
Powell says economy still “a long way from our goals” as FOMC holds policy steady
Central Banking Awards 2021: winners in full
Winners in 2021 include the Federal Reserve, Alejandro Díaz de León and Charles Goodhart
A bellwether moment for CBDC plans
The launch of the ‘sand dollar’ may herald a new era of CBDCs as the Fed and ECB step up their preparations
Central Banking Awards 2021: final winners unveiled
Awards announced for central bank of the year, economics, risk management and more
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast