United States
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Aging population may improve fiscal sustainability – paper
More old people means more money to invest in assets like government bonds, researchers point out
Powell indicates policy shift at Jackson Hole
The Fed chair says the balance of risks appears to be shifting; FOMC no longer plans to overshoot inflation target
US consumer spending resilience hides inequalities – research
Low-income consumers’ credit card debt has risen substantially since 2019
Eurozone unemployment stats may understate slack – research
Authors say they have created an indicator with important monetary policy implications
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
Trump calls for Fed governor Cook to resign
Federal Housing Finance Agency director accuses the governor of mortgage fraud
On the eve of the Fed’s framework review
Experts speak about the Fed’s monetary strategy review, including the role of flexible average IT and the need to better communicate policy trade-offs
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Fed ends crypto and fintech supervision programme
“Novel activities” programme will be folded into normal supervisory processes
National debt will push up US interest rates – Dallas Fed research
Long-term rates could rise more than 1.5 percentage points over next 30 years, say authors
Fed’s new leverage ratio: the horse that never left the gate
Most of the biggest dealers aren’t leverage constrained now, and experts are sceptical that banks will use the extra capacity for Treasuries
Low long-term real rates can increase inequality in US – study
Authors say low rates cause wealthy to invest more in their children’s education
People: BSP appoints new deputy governor for supervision
Plus: Kenya lines up Nokia’s country chief for seat on board, and head of US crypto council steps down
Politics influences US citizens’ inflation expectations – study
Party affiliations help explain divergence in different surveys’ results, say Cleveland Fed economists
Stablecoin growth may decrease loan supply in US – Fed study
Bank lending could be reduced by $325 billion over next three years, author claims
Bessent expects BoJ to raise policy rate
US Treasury secretary also says inflation in Japan is dragging up yields on long-term US bonds
Warren’s buffer plea is point-scoring, says expert
Professor attacks senator’s call for Fed to tighten bank regs, but echoes concerns about weak lenders
Bailey, the IMF and the fundamental asymmetry problem
The IMF must address sovereign asymmetry and transform surveillance into a tool for mutual accountability, argues Biagio Bossone
Experts split over wisdom of Mexico’s 25bp rates cut
Economist says policy committee’s sole dissenter was right to vote to hold
Trump picks Miran to replace Kugler on Fed board
Adviser set to take up role until January as president continues search to replace Powell as chair
US’s gains from tariffs diminish when countries retaliate – study
Dallas Fed authors say negotiated settlements may be best for all concerned