Philadelphia
Slight majority of US consumers ‘warm’ to CBDC, survey says
Respondents most interested in free use and widespread market adoption, Philadelphia Fed finds
Philadelphia paper explores drivers of bankruptcy decisions
Working paper examines the extent to which the structure of a household’s balance sheet and income statement influences its decision to file for bankruptcy in the wake of an income shock
Bank of Canada sees ‘modest effect’ from Brexit
Canadian and US central bankers size up cost of UK’s vote to leave the EU; Carolyn Wilkins and Patrick Harker do not see large impact on growth from direct trade effects
Philadelphia Fed president sees potential for two or three hikes in 2016
Patrick Harker warns of needs to avoid “aggressive policy actions” in the future; expects both inflation and expectations to rise in the medium-term
Philadelphia Fed president warns of ‘mismatch’ between education and business
Patrick Harker says there is a disparity between the education offered and practical skills needed by businesses in the US, which has likely contributed to slow recovery following crisis
People: Philadelphia Fed names first VP; five new vice presidents at AIIB
James Narron named vice-president and COO of Philadelphia Fed; five new vice-presidents join executive team at AIIB; and more
Fed’s Harker adopts more cautious tone on policy
Philadelphia Fed president says it may be more 'prudent’ to wait for stronger inflation data before hiking for a second time; sees inflation rising more gradually than before
People: Philadelphia Fed appoints new supervision head; Bank of Russia takes on HSBC economist
Philadelphia Fed announces William Spaniel as head of supervision, regulation and credit department; Alexander Morozov joins Bank of Russia as head of research and forecasting; and more
People: Top EBA officials backed for new terms; Philadelphia Fed first VP to retire
Andrea Enria and Adam Farkas handed new five-year terms by EBA’s board of supervisors; Philadelphia Fed announces Blake Prichard will retire early 2016; and more
Philadelphia Fed paper highlights bounce-back in credit card spending
Discussion paper analyses data from Visa Payment Panel Study, finding credit card spending has recovered from a recession-related dip, while growth in debit card spending is slowing
Philadelphia Fed survey sees brighter outlook for economy
Survey of US forecasters shows outlook of higher growth and lower unemployment than previously thought by the end of 2015; inflation expected to return to target next year
Plosser lays out four principles of sound central banking
Former president publishes a reflective essay in Philadelphia Fed’s annual report for 2014; advocates clear objectives, systematic rules, open communication and stable independence
Philadelphia Fed names Patrick Harker president
Charles Plosser retired yesterday and Patrick Harker will take the reins in July; his background includes a host of academic posts and a spell on the Philadelphia Fed board
Plosser: Regular monetary reports would force FOMC to ‘think more deeply’
Philadelphia Fed president Charles Plosser sets out why the Federal Reserve should publish a quarterly monetary policy report – part of which he and colleagues have already modelled
People: Philadelphia Fed gets new directors; Paraguay central banker named finance minister
Jon Evans and Carol Johnson are appointed to the Philadelphia Fed board of directors; Central Bank of Paraguay loses member of the board of directors to the government; and more
Plosser: central bankers should take ‘great care' in changing view on neutral interest rate
Distinguishing transitory from permanent changes in growth and real interest rates is a ‘tricky task', says Philadelphia Fed president and FOMC member
Philadelphia Fed president Charles Plosser to retire
Vocal critic of unconventional monetary policies to leave FOMC in March 2015; Yellen says she will miss ‘keen insights, deep analysis and good humour'
Philadelphia Fed's Plosser fears ‘risky' FOMC strategy on interest rates
Regional Fed president does not want to wait to increase rates until job market has ‘completely healed'; calls for overhaul of forward guidance
Plosser: Fed should be stripped of dual mandate
Charles Plosser says the Federal Reserve should ‘focus solely’ on price stability, as monetary policy has ‘very limited ability’ to influence employment
People: German and Dutch central banks lose board members; Philadelphia Fed appoints research head
Longest-serving Bundesbank executive board member to step down; Netherlands Bank loses governing board member; Philadelphia Fed replaces departed Loretta Mester; more
Philadelphia Fed president calls for 'simpler' regulatory mechanisms
Simple, transparent regulatory mechanisms would make it easier for market participants to predict how regulators behave, and increase the effectiveness of the regulatory regime, Charles Plosser argues