United States
Central bank governors express ‘full solidarity’ with Powell
Lagarde and Bailey among signatories of statement in wake of Department of Justice investigation
Collateral velocity is disappearing behind a digital curtain
Dealers may welcome digital-era rewiring to free up collateral movement, but tokenisation will obscure metrics
Book notes: The London Consensus, by Tim Besley, Irene Bucelli and Andrés Velasco
The authors set out guidelines to address shortcomings linked to the Washington consensus, but implementation will be a challenge
Richmond Fed president leaves policy path open in 2026
Barkin says consumer sentiment is still negative, despite US economy’s resilience
Yellen warns of fiscal dominance at the Fed
Former chair joins economists in sounding alarm over central bank’s response in event of debt crisis
Bowman’s Fed may limp on by after cuts
New vice-chair seeks efficiency, but staff clear-out could hamper functions, say former regulators
US ‘bearing large share’ of tariff costs – NBER paper
Authors find pass-through is nearly 100% and is reshaping how country trades
Philly Fed president says rate cuts could come late in 2026
Paulson points to variety of factors hampering US labour market
Winds of change 2026: managing opportunities
Shifts in monetary and fiscal policy are reshaping fixed income markets
Federal funds rate is not optimal, study warns
Dallas Fed research says transmission to other markets has deteriorated in recent months
How Bessent learned to stop worrying and love the T-bill
Short-dated issuance shows no signs of slowing. Some fear it could end badly.
Bostic says Fed is risking its credibility over inflation
Governor questions whether public will ‘lose faith’ after five years of above-target price rises
Fed vice-chair calls US labour market ‘anaemic’
However, Williams also expects economy to ‘pick up steam’ over coming years
All regional Fed heads reappointed for five-year terms
Renewals of presidents’ and vice-presidents’ terms allay fears of political interference
Manufacturing will not be jobs engine in US – St Louis Fed study
Authors say periods of rising productivity in sector have been accompanied by drops in employment
Is this the end of dollar dominance?
Steve Kamin tracks evolving investor attitudes to the US in the wake of 'Liberation Day'
US policies could create challenges for MAS – Amro report
Singaporean central bank confident risks from possible capital inflows can be managed with existing tools
Fed cuts by 25bp amid another three-way split on FOMC
Miran votes for deeper cut, and Goolsbee and Schmid opt to hold, as experts point to stagflation risks
Tariffs may permanently raise medical goods costs – NBER study
Research also finds that trade barriers can worsen domestic supply shortages
US inflation expectations hold steady in November – NY Fed
Latest survey shows increasing concerns over medical costs and financial welfare more generally
Trump denies offering Orbán Argentina-style ‘financial shield’
US president says Hungarian PM ‘certainly asked for’ protection arrangement
12 angry members: why dissent is growing on the FOMC
Hardening views on wisdom of further cuts mean committee’s next meeting is unlikely to be harmonious
Bessent: Fed heads should come from districts they represent
US Treasury secretary says measure would not be applied retroactively