United States
Commercial real estate poses financial stability risks – research
Researchers say current strength of commercial real estate loans may not persist
People: Novelist named to Honduras central bank board
SNB official retires next year; two new vice-presidents at ADB; and more
Federal Reserve Board joins Instagram and Threads
Move to social media platforms follows those by regional Feds and other central banks
‘Buy now, pay later’ may target the financially fragile – NY Fed
Researchers warn sector may not be resilient
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
FOMC members express different views for policy path forward
Bowman and Kashkari expect further rate hikes but Daly is less certain
US and China set up economics and finance working groups
Officials will report to US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng
Policy-makers should shun ‘black box AIs’, Fed’s Cook warns
AI could displace jobs while raising productivity, Federal Reserve governor says
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
FOMC members’ narratives add value to projections, finds paper
Both staff and FOMC members 'projections aid forecasting, refuting Romer and Romer
Federal Reserve holds rates and revises projections upwards
Powell says path for soft landing has “widened apparently”
Pandemic may have altered US credit score reporting – paper
Government support and spending changes improved many individuals' ratings, researchers find
QE crowds out bank loans – NBER paper
Asset purchases generate “counterproductive” cut in lending to firms, authors find
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
Tight monetary policy can scar economy, SF Fed research finds
Central banks may not be able to undo effects on productivity and potential output, paper says
Book notes: The Continental dollar, by Farley Grubb
Grubb’s book brings an important new interpretation to this founding moment in US financial history
US official outlines expanded role for poorer nations at IMF
Shambaugh discusses quota reform and new officials for developing countries
Barr says Fed will not issue CBDC without legislation
Supervision chief warns of danger of unregulated issuance of stablecoins
G20 promises greater funding for World Bank
US-led effort could unlock $200 billion of funding capacity, if countries follow through on pledges
US Senate confirms Kugler to Fed board
Colombian-American economist becomes first Latinx governor
US Senate confirms Jefferson and Cook for Fed posts
Upper house agrees to vote soon on Biden’s third nominee, Adriana Kugler
Fed officials signal slowing tightening cycle
Bostic and Harker indicate policy is restrictive enough to bring inflation to 2%
BIS paper highlights powerful information effects during SVB run
Hearing about SVB made people more likely to run, but good communications helped stem the tide
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen