North America
Trump and Powell’s war of words escalates
Fed chair slams tariffs, while president says Powell’s departure “cannot come fast enough”
Atlanta Fed chief urges caution amid ‘big pause’ in US rates
Bostic compares US central bank to car driving through fog, and says now may be the time to pull over
Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs
Birth determines people’s retirement savings in US – study
US-born seniors have almost three times as much saved as non-citizens, Minneapolis Fed research finds
Inside the week that shook the US Treasury market
Rates traders on the “scary” moves that almost broke the world’s safest and most liquid investment
Disparities in US inflation have policy implications – study
State-level differences in price rises have increased since 2010s, says San Francisco Fed study
SMEs likely to pass on tariff costs to consumers – study
Boston Fed research finds causal link between levies and price rises for consumers
Waller is latest Fed governor to sound warning over tariffs
Board member says effect on growth and jobs likely significant, but inflationary hit could be transitory
Average inflation targeting raised post-Covid prices in US – study
Dallas Fed research argues Fait framework contributed to surging prices
Policy should respond to long-run expectations – Fed study
Such a framework would enhance price stability, paper argues
Dallas and Minneapolis Fed chiefs sound alarm over tariffs
Logan and Kashkari highlight risks to inflation and employment
US Treasury volatility highlights repo market risks
Yields spiked overnight as tariffs came into effect, piling pressure on heavily leveraged hedge funds
CFOs gloomy about impact of tariffs on US – Atlanta Fed study
Survey shows C-suite’s early worries about trade barriers
Current and former Fed officials lambast Trump tariffs
Bloom Raskin says central bank is now “last bulwark” against measures’ inflationary impact
‘Declaring war on the world economy’: economists react to Trump tariffs
Early estimates point to stagflation in US, as tariffs hit highest level since early 20th century
OCC withdraws climate risk principles for largest banks
Acting comptroller calls principles overly burdensome and duplicative
US monetary policy affects income inequality – Fed research
Surprise rate hikes affect lowest paid, authors find
Legal framework key to keeping money’s singleness – study
Interoperable blockchain payment systems could present challenges, say NY Fed researchers
Concentrated ownership in US means fewer jobs, lower pay – study
Chicago Fed research says resulting changes have not led to any commensurate rise in productivity
Mexico’s central bank cuts rates by 50bp
Economist says last month’s uptick in inflation means Banxico should have held
Business models at heart of 2023 banking turmoil – research
Unrealised losses and uninsured deposits were not main drivers of crisis, Chicago Fed paper argues
ECB monetary policy spills over to US – Chicago Fed study
Resulting appreciation of dollar causes US leveraged loan investors to demand more compensation
US banks create ‘new payment rail’ with tokenised deposits
Custodia and Vantage launch what they say is first tokenisation of a dollar demand deposit
Default levels do not explain high US credit card rates – study
NY Fed paper shows levels of interest charged far exceed those for other loans