United States
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
Two US regulators fine Bank of America $225m
Country’s second-largest bank unlawfully blocked access to unemployment benefits
US Senate confirms Barr as Fed vice-chair
Democrat appointees now form majority of board of governors
People: Saudi Central Bank appoints two vice-governors
BIS names heads of key committees; senior officials quit US Office of the Comptroller of the Currency
US experts believe inflation will fall, eventually
CPI inflation surges above consensus forecasts, but economists expect a turning point soon
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
FOMC ready to tighten policy further, minutes show
Members worried about inflation becoming entrenched but see some signs of pressures easing
US risks slipping back into secular stagnation, says Rajan
Fed has “good chance” of defeating inflation but US economy has deeper problems, economist says
US core inflation continues decline
Headline PCE inflation flat as food and energy inflation remains buoyant
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
Fed’s Evans and Bullard downplay recession risks
Both presidents looking to increase the policy rate to around 3.5% by the end of the year
Fed finds major banks able to withstand ‘severe recession’
All banks pass stress test despite tougher scenario than in 2021
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
Fed meets inflation surge with 75bp hike
Unexpected spike in inflation and expectations spurs committee into rare policy aggression
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
US inflation expectations inch higher
New York Fed survey finds rise in expectations at one-year horizon, but not at longer term
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Atlanta Fed revises growth estimate downward
This quarter has the possibility of officially beginning a US recession