United States
Economics profession needs women – San Fran Fed director
Economics facing crisis as policy continues to be made by men, says research director; young female economists should consider male counterparts as role models too
Dudley goes against Trump’s protectionist line
New York Fed president criticises protectionism as Donald Trump steps up rhetoric; questions value of excessive reserves accumulation
NY Fed paper studies when government should issue safe assets
Model implies only under certain situations should the government issue new debt; changing inflation target might be superior
Tighter policy policy may increase financial instability, researcher says
Higher rates may pressure banks’ balance sheets and increase assets held by money market funds, says paper published by San Francisco Fed
ECB paper models impact of monetary policy announcements
Model tries to “disentangle” impact of two kinds of information
Yellen says central banks should consider moving inflation targets
But former Fed chair says changing targets would be “a tricky business”
Sovereign debt more ‘enforceable’ – ECB paper
Results show creditors have used courts to “pressure” foreign governments, resulting in restricted access to capital markets
Fed’s Powell expects strong US growth
Robust labour market likely to support income and consumer spending rises, Fed chair says
Fed’s Dudley says Puerto Rico must ‘start from scratch’
Territory must face up to “painful” decisions to tackle debt and infrastructure problems
Fed should review monetary policy framework – Mester
Several FOMC members raised policy review at January meeting, Cleveland Fed president says
‘Job polarisation’ drives US men out of labour markets – Kansas City Fed paper
Technological change and globalisation reduce demand for skills of young and unskilled men
People: Slovakia appoints new deputy governor
Iceland reappoints MPC member; FDIC names new director of minority and women inclusion, and more
Fintech lenders increase efficiency of US mortgage lending, research says
Digital credit providers offer faster services, reliable risk assessments and flexible business models, New York Fed research finds
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects
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