United States
FOMC holds as Powell decides to stay on as Fed governor
Outgoing chair to remain on board, citing uncertainty over further potential criminal probes
Can US regulators keep Collins happy with one capital stack?
Legal experts say Basel III endgame redraft retains spirit if not letter of the floor
DoJ drops Powell probe, clearing way for Warsh
U-turn comes after Thom Tillis doubled down on threat to block president’s chosen successor
Hedge ratios help explain swings in dollar – BIS study
Data on eurozone funds helps explain currency’s reaction to tariff announcements, authors say
Tillis holds firm over Warsh’s confirmation as Fed chair
Senator still intends to block appointment unless criminal probe into Powell is dropped
Waller proposes consolidating regional Fed operations
HR, finance and procurement should be done by Washington instead of locally, governor says
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and yuan unlikely to supplant greenback, but ‘more multipolar’ system could arise
Growing global imbalances risk ‘disorderly unwinding’ – panel
Imbalances caused by unsustainable growth models and industry policy, experts say
Economic security requires alliances, not autarky – panel
Former RBA policy-maker says countries outside US need strong trade links in uncertain times
‘There is agency’: experts say countries can deal with tariffs
‘Bad behaviour’ by US and China has brought many other nations together, speakers say
‘Plaza accord 2.0’ will not fix global imbalances – IMF panel
But getting China and US to implement other necessary remedies will be challenging, speakers say
Trump to Powell: If you don’t jump, I’ll push you
President threatens to fire Fed chair next month and says criminal probe into central bank must continue
Can the US FRTB revamp make the IMA great again?
Banks are finally presented with a viable internal models framework under Basel III’s market risk rules
EU-US relations ‘broken in a deep way’ by Trump 2.0 – Blanchard
Economist says 27-strong bloc must not take sides with Beijing or Washington
NY Fed outlines tests of reserves demand
Approach can guide central bank as it approaches point of ‘ample’ bank reserves
The role of high-denomination banknotes
High-value notes are an important store of value and remain in demand during crises
Governor says RBNZ will tighten policy if inflation rises
Central bank holds and offers ‘uncertain’ estimate of inflation being well above target
Central banks face ‘double whammy’ from Iran war
Policy-makers will have to tackle impact of higher inflation and greater fiscal stimulus
Geopolitics and debt are headwinds for dollar – Hammack
Cleveland Fed president says greenback’s long-term pre-eminence cannot be ‘taken for granted’
NY Fed blog explores two sides of monetary policy
Short-term rates and balance sheet size both strongly affect money market conditions, study finds
Powell: We do not see systemic risks from private credit
Fed chair speaks on independence, financial stability and more at Harvard
Exporters to US paying only 5% of Trump’s tariffs – ECB research
Data shows stateside consumers bearing brunt of costs from levies on imports
Dollar still ‘special’ but Treasuries losing shine – NBER paper
Authors show ‘strong divergence’ between global roles of greenback and US government bonds
People: Williams to continue leading BIS markets committee
Plus appointments in Baltics and departures at Bank of Canada