United States
Housing affordability dropping across the US
Fed’s large rate hikes and constrained housing supply create tough market for buyers
Fed paper explores information problems in financial panics
Tight liquidity can cause investors’ beliefs to become “systematically divorced from fundamentals”
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Prominent economists call on US to unfreeze Afghan reserves
Stiglitz among those calling on US to ease humanitarian crisis despite Taliban rule
Fed governors still talking tough on inflation
Lower inflation expectations and CPI come as positive signals for the path ahead
People: Pimco re-hires Fed’s Clarida
Burundian president replaces central bank chief; Israeli research chief stepping down
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
BoJ unlikely to move policy to counter yen weakness
The Bank of Japan is wary of raising rates or even increasing its yield control target to tackle yen depreciation, which it views as being exacerbated by foreign speculators, writes Sayuri Shirai
Fed announces another 75bp rise
Jerome Powell says Fed’s approach to forward guidance will change
Powell divests municipal bond holdings
Fed chair acted early to comply in with new ethics code at Federal Reserve
US inflation: it’s mainly global
Steve Kamin analyses the pre-existing conditions that impacted inflation in the US and elsewhere
Fed faces years of losses as interest rates rise
QE brought major interest rate risk onto central bank’s balance sheet
Endlessly interim? The struggle to appoint top US regulators
Two-year OCC vacancy is not that unusual in US system, but it may hamper initiative
Larry Summers says Fed suffers from dangerous groupthink
Former Treasury secretary argues a massive recession is needed to combat inflation
IMF says US faces hard balancing act
Excessive tightening by the Fed could cause negative spillovers for global economy, fund warns
Fed internal watchdog clears Powell and Clarida
Inspector-general still examining Rosengren and Kaplan, while senators criticise new code