United States
US Treasury hones its bank resolution regulations
Treasury proposals look to overhaul Chapter 14 from the bankruptcy code to limit use of Orderly Liquidation Authority, while restricting FDIC powers
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation
Philadelphia Fed’s Harker forecasts only two hikes in 2018
Despite stronger growth and lower unemployment, inflation remains too weak
A changing of the guard
Risks emerge amid leadership changes at the US Federal Reserve Board and the People’s Bank of China
ECB orders Latvia to shutter bank over laundering allegations
US Treasury alleges the bank laundered billions of dollars and had links to North Korea
Reserve managers made financial crisis worse for central banks – paper
Synchronised withdrawal of funds from commercial banks made central bank stabilisation efforts “more difficult”, IMF paper says
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
We don’t need cryptocurrencies – former St Louis Fed economist
Current payment infrastructure and physical cash already provide the benefits offered by cryptocurrencies, says Stephen Williamson
Higher inflation in the US pushes up yields
The headline consumer price index rose by 2.1% year on year
Mester advocates continuing 2017 rate path this year
Cleveland Fed president says the current policy balances inflation and growth risks
Powell faces balancing act as normalisation proceeds
New Fed chair likely to continue policy normalisation even as market volatility tests his resolve
Lacklustre recovery down to pre-crisis factors – research
San Francisco Fed article says weak recovery in the US due to long-running factors, and not the immediate impact of the global crisis
New York Fed economists unconvinced on crypto’s viable uses
Cryptocurrencies would work in dystopian world, economists say, but current environment means advanced economies have no need for them
US real GDP growth accelerating in 2018 – Atlanta Fed
The real-time index GDPNow forecasts an annualised expansion of 4% in the first quarter
Chicago Fed’s Evans calls for caution in raising rates
Charles Evans makes the case for delaying rate rises, fearing inflation expectations may have drifted downwards
A dangerous unknown: interest rate risk in the financial system
Urgent action is needed to tackle the little-understood build-up of interest rate risk in the global financial system; macro-pru tools still inadequate to tackle the issue
Plunging shares may be another sign of economic strength
The sell-off may be a reaction to stronger economic indicators and expectations of a hawkish Fed, say analysts
Lower unemployment may not create inflation, Bullard says
The relationship between employment and prices has changed, warns US policymaker
Venezuela’s new forex auction sees bolivar plummet
Latest auction sees currency devaluate by 99% from heavily subsidised exchange rate
Phillips curve ‘alive and will soon be kicking’ – Fed’s Williams
John Williams expects US inflation to reassert itself soon
Fed imposes growth cap after ‘consumer abuses’ at Wells Fargo
Troubled lender is not allowed to expand its assets further until it improves governance and controls
‘Intensified’ tax competition will affect euro area – research
Latest ECB bulletin shows “possible erosion of tax bases” in the EU, after recent US tax reforms
Yellen to join former Fed colleagues at Brookings
Janet Yellen returns to her research roots with position at Brookings Institution