Joe Biden
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021
US Senate reappoints Powell as Fed chair
Appointment comes as Powell’s approval rating in polls falls to lowest point in his career
US banks anticipate delay to Basel III implementation
New Fed supervision head expected to align schedule with EU and Japan, but time is tight
US lawmakers approve vote on four Fed nominations
Senate Republicans end boycott after Raskin withdraws bid, but oppose Lisa Cook
Raskin withdraws Fed candidacy
Nominee cites “relentless attacks by special interests” after key senators oppose bid
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Biden orders CBDC report from Fed and other agencies
Report must advise on how possible CBDC would affect US security and sovereignty
US announces initial financial sanctions on Russia
Biden administration bars secondary market bond transactions, but expert says impact likely to be limited
US Senate Republicans stall Fed nominations
Raskin denies opposition lawmakers’ allegations that she engaged in untoward lobbying
Omarova ends bid for OCC job
Biden nominee faced Republican charges of radicalism and alienated some Democrats
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
Leading Republican alleges Fed overreach on race
Toomey writes to regional Feds about “recent, intense interest in ‘racial justice’ activism”
Book notes: Central banks as fiscal players, by Willem Buiter
Buiter puts a real economic problem into a convincing theoretical frame, and translates it into applicable policy advice
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
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
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
US Congress strikes stimulus deal with weaker curbs on Fed powers
Previous wording would have prevented Fed from ever recreating the ‘Main Street’ programme
Republican lawmakers seek curbs on Fed’s emergency facilities
Treasury backs lawmakers in bid to insert wording to bar Fed from restarting Covid loan programmes
People: New deputies named in China and Mexico
Plus ECB appoints senior supervisors, and Donald Trump tries to install new OCC chief
Trump nominee Shelton moving closer to Senate vote
Observers say Murkowski’s statement removes one potential barrier to Shelton being approved