United States
US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
Fed’s CBDC efforts should not be driven by digital yuan, Fed official says
A decision on ‘Fedcoin’ should be independent of action taken by China, says David Andolfatto
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
A brick-by-brick guide to inflation
Cleveland Fed uses Lego videos to explain inflation
People: Sam Woods reappointed; Fernanda Nechio returns to SF Fed
BoE deputy gets fresh term; Nechio to lead regional Fed’s sustainability research; and more
Dallas Fed: credit conditions improved for most in 2020
Study of Texas finds communities with more immigrants saw fewer benefits
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
Inflation expectations rising – NY Fed survey
Survey finds consumers predicting higher prices, but also better labour market conditions
US CPI inflation reaches 5%
Figures follow predictions of “transitory” inflation rises by senior Fed officials
US court throws out suit against fintech charters
Judges dismiss challenge to Comptroller of the Currency on procedural grounds
Yellen: ‘slightly higher interest rate’ would be fine
Treasury secretary says US should push forward with spending plans
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
New York Fed to begin SMCCF bond sales
Federal Reserve plans to offload $13.7 billion in corporate debt bought as pandemic measure
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
NY Fed prepares to sell corporate bond portfolio
Holdings of $13.7 billion were bought under emergency SMCCF programme
How the Fed’s Fima addressed the 2020 dollar liquidity shortage
The fifth chapter of HSBC's Reserve Management Trends 2021 explores how the Fed's repo facility supported markets during the Covid-19 pandemic
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
New York Fed announces record use of reverse repo facility
Value of transactions exceeds December peak and number of counterparties nearly doubles