United States
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases
Diem says it will ‘fade out’ stablecoin if Fed issues CBDC
Chief economist of Facebook-backed firm says public sector has “comparative advantage”
A return of the inflation monster?
There are fears that a shift in intellectual approach towards running economies ‘hot’ could herald a return of the money-eating inflation era
People: Erdoğan fires deputy governor
South Korea appoints new sovereign wealth fund chief; Fed lawyer moves to OCC; and more
Leading Republican alleges Fed overreach on race
Toomey writes to regional Feds about “recent, intense interest in ‘racial justice’ activism”
Firms are ‘inattentive’ to inflation and monetary policy – NBER paper
Authors present new survey data indicating firms’ expectations are “anything but anchored”
Leverage ratios fall for most US bank categories
Kansas City Fed report finds G-Sibs increased capital buffers, mainly due to SLR exemption
Powell announces forthcoming CBDC paper
Irrespective of US CBDC, Fed will help develop international standards, says chairman
Summers steps up attacks on Fed inflation stance
Inflation hawk warns of “complacency” after April CPI hike, but FOMC members have stood firm
Book notes: Quantitative easing, by Jonathan Ashworth
Well-documented and fairly comprehensive book for anyone, including central bankers, wanting an overview of how monetary policy has evolved in recent decades
Don’t dismiss inflation risks but don’t overreact, say central bankers
Sbordone, Smets and Vlieghe weigh up challenges for central banks in the “return towards normal”
Fed’s Harker warns US higher education ‘is in peril’
Philadelphia Fed president calls for reforms, as colleges face up to $115 billion in deficits
Brainard questions Fed approval of bank merger
Fed approves PNC purchase of BBVA USA, while Brainard warns of “weakened” safeguards
Diem shifts focus to US dollar stablecoins
Move away from Switzerland sees former Libra Association distance itself from original multi-currency plans
The new era of money supply and its impact on policy
The empirical relationship between money and inflation has changed, writes Manmohan Singh, with Apoorv Bhargava and Peter Stella. To understand current policy challenges, we must first understand money creation
NY Fed updates Treasuries purchasing programme
New York Fed changes maturity ranges and sector weights of bond purchases
US may not need CBDC – Boston Fed chief
Rosengren says improved payments systems may provide many CBDC uses
Fed leaders hold dovish line as CPI surges
Board members and regional presidents say inflation and employment goals still far from met
Paycheck protection facility supported lending – Fed paper
Study finds liquidity facility helped banks lend more to small businesses during the Covid-19 crisis
People: ECB appoints head of climate change centre
Bank of Italy names new head of financial supervision; Kansas City Fed appoints assistant vice-president
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors
Fed’s Bostic says economic inclusion goals shape policy
Atlanta Fed president calls for more joint work with CFPB
Fed looks to boost competition in debit card payments
New rule will support legal right to at least two payments options for merchants
Fed clarifies account access rules for fintech firms
Proposals address growing number of firms seeking access to the central bank’s balance sheet