United States
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Mr Bessent goes to Basel: the fate of global bank regulation
US resistance to international standards could spark greater fragmentation of prudential rules
Banks should ‘regularly’ assess clients’ exposure to tariffs – ECB
Rising trade tensions threaten financial stability, bank’s economists say
Growth in US CRE loans hits 11-year low – research
St Louis Fed study says developers responding to higher costs and lower demand
Muted consumer sentiment may not presage low US growth – study
Kansas City Fed research says people’s pessimism does not automatically mean they will spend less
GSEs not lending as much as they appear to be – NY Fed paper
Much of enterprises’ loans to “real economy” are in fact financed by other types of institution
Fed’s SLR reform must address interest rate risks – experts
Planned change receives support from some, but others warn of slippery slope to excessive deregulation
Fed official: SLR tweaks likely unbundled from Basel III
Complexity of endgame proposals means any leverage ratio changes will probably be proposed separately
NY Fed and BIS explore monetary policy in a tokenised world
Project Pine’s smart contracts are designed so central banks can adapt them to their currencies and frameworks
US has got what it wanted from Basel, say former regulators
Process has been "essentially driven" by US interest, says former Fed vice-chair
Fed researchers call for new definition of ‘unbanked’
Economists support paper’s more nuanced approach, but caution against dropping current terminology
Tariffs already raising US inflation – Fed study
Researchers say trade policies were starting to affect consumer prices in March
The cost of ‘US liberation’
Stephen Millard outlines NIESR’s latest analysis of the Trump tariffs, as risks tilt to the downside
Fed holds rates as experts sound alarm over stagflation
FOMC says risks have risen on both the employment and inflation sides of its mandate
FOMC vote rotation ‘distorts’ rates – NBER paper
Regional Fed presidents make decisions based on local conditions, research finds
Eurozone exports to US unlikely to rise in trade war – ECB study
US tariffs rerouted Chinese goods to eurozone, but exporters there failed to boost US presence
Experts divided over contraction in US economy
Ex-NY Fed chief says latest figures are an anomaly, though others point to Trump policies’ impact
Almost half of eurozone ready to stop buying US goods – ECB study
Tariffs have triggered significant animosity among consumers, research finds
Target inflation traditionally, G30 tells Fed
Working group says its proposed changes to Fed framework might prevent repeat of 2023 banking crisis
US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
Stress tests stronger in EU than in US – BdF research
Lenders remain well capitalised in both regions but European banks are more resilient, study finds
Inflation expectations survey flashes warning signs in US
University of Michigan report, cited by Fed officials, says outlook had dropped in tandem with tariffs
‘Liberation day’ likely to cause US recession – NBER study
Paper sets out conditions for tariff-driven downturn and says US is likely to meet them
‘This is not a wobble’: Brunello Rosa on the path to de-dollarisation
Digital currencies will play a central role as China challenges US hegemony, says economist