United States
Lawmakers join pushback over SEC dealer rule
Bipartisan letter to Treasury says proposal would damage market liquidity
Fed slows tightening cycle again with 25bp rate rise
More rate hikes likely as Powell expresses concern over expectations “getting unanchored”
Credit constraints have small impact on housing market – paper
RBA economist revisits the effects of down payments on housing prices
Fed moves to ban state banks from holding crypto as principal
Supervisors outline plan for “level playing field” between state and national banks
Ransomware threat on the rise, says Boston Fed IT chief
Automation and AI could boost response times and ease staffing pressures
Fed deals double blow to crypto bank
Wyoming-based Custodia turned down for Fed membership and master account
Lael Brainard may take White House post
Biden could ask Federal Reserve vice-chair to lead economic council, reports say
Some US banks “too big to manage”, OCC head warns
Acting comptroller Michael Hsu says agency may clarify regulation to improve governance
Mark-ups made up more than 50% of US inflation – Kansas City Fed
Rise in mark-ups may point to opportunistic pricing by firms
Federal Reserve saw fall in profits in 2022
Central bank remitted $76 billion to US Treasury, but has been in red since September
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Fed presidents in chorus for smaller rate hikes
Harker, Daly, Collins and the departing Evans all signal preference for 25bp in February
US CPI inflation falls again
Falling fuel prices drive down index for sixth straight month
Fed will not fight climate change without mandate, Powell says
Elected officials must take lead in policies to green economy, Fed chair argues
Cook suggests US may need to change inflation models
Fed governor believes inflation on path to 2% but tight labour market remains upside risk
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
FOMC waiting for ‘more evidence’ of inflation decline
December FOMC minutes show staff and policy-makers warning inflation risks remain high
People: Nigeria reappoints deputy governors
Czech National Bank names new deputy; New York Fed appoints chief operating officer; and more
Fed warns banks on crypto exposures
Regulators cite “lack of maturity and robustness” in crypto firms’ risk management
The strong dollar, global inflation and global recession
Steve Kamin asks whether the Fed’s tight policy is pushing the world towards recession
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Kentucky restaurant sues Fed
Restaurant latest plaintiff to argue that debit interchange fees are illegally high
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Currency round-up: Yellen’s signature added to US money
Singapore ends practice of printing new year notes; new coins in Canada and Ghana; and more