North America
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
World Bank report says going green makes economic sense
Authors tie employment, resources and productivity to environmental health
Miran claims climate work is real threat to Fed independence
Nominee would ‘forcefully push back’ on bank incorporating global warming risks in its assessments
Senate unlikely to replace Cook during litigation
Republicans on key committee will not consider nominees until court rules on legality of her dismissal
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
Study suggests AI is already leading to US job losses
Research by St Louis Fed says effect has been greatest in mathematical and computer sectors
Tariffs may lower the natural interest rate – research
Increased trade costs reduce demand for capital, say authors
How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
How to solve the Fed’s $300bn FRTB problem
A sacrifice will have to be made to ensure new market risk rules meet demands for capital neutrality
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
BoC will continue targeting inflation at 2%, governor says
Guidance is well understood and provides stability in uncertain times, argues Canada’s Macklem
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Powell indicates policy shift at Jackson Hole
The Fed chair says the balance of risks appears to be shifting; FOMC no longer plans to overshoot inflation target
US consumer spending resilience hides inequalities – research
Low-income consumers’ credit card debt has risen substantially since 2019
Eurozone unemployment stats may understate slack – research
Authors say they have created an indicator with important monetary policy implications
On the eve of the Fed’s framework review
Experts speak about the Fed’s monetary strategy review, including the role of flexible average IT and the need to better communicate policy trade-offs
Fed ends crypto and fintech supervision programme
“Novel activities” programme will be folded into normal supervisory processes
National debt will push up US interest rates – Dallas Fed research
Long-term rates could rise more than 1.5 percentage points over next 30 years, say authors
Fed’s new leverage ratio: the horse that never left the gate
Most of the biggest dealers aren’t leverage constrained now, and experts are sceptical that banks will use the extra capacity for Treasuries
Low long-term real rates can increase inequality in US – study
Authors say low rates cause wealthy to invest more in their children’s education
People: BSP appoints new deputy governor for supervision
Plus: Kenya lines up Nokia’s country chief for seat on board, and head of US crypto council steps down
Politics influences US citizens’ inflation expectations – study
Party affiliations help explain divergence in different surveys’ results, say Cleveland Fed economists
Stablecoin growth may decrease loan supply in US – Fed study
Bank lending could be reduced by $325 billion over next three years, author claims