United States
Information drives transatlantic policy spillovers – ECB paper
Tighter ECB policy often causes financial easing in US due to “information effect”, researcher argues
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if its new government gives the go-ahead, chairman of foundation says
Fed and OCC act against Citigroup
US lender fined $400 million by OCC as regulators cite poor risk management
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Machine learning algorithms could increase ethnic bias – research
Technology makes loans more likely for US ethnic minorities but increases interest rates, paper finds
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk; efforts to expand focus beyond climate risks now under way
Sticky prices play key role in monetary policy responses – ECB paper
Author finds different US industries’ react very differently to monetary policy decisions
Fed extends Covid-19 emergency measures
Lael Brainard is again sole vote in favour of outright ban on banks making dividend payments
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts
BoK launches facility to guard against dollar liquidity squeeze
South Korean central bank creates new facility to cut risk of dollar liquidity crisis, after extending Fed swap line
Fed will calibrate NSFR to avoid hurting repo
Fed’s supervision head says final liquidity rule will be fast-tracked without fresh consultation
Fed’s Quarles ‘optimistic’ on economic outlook
Second wave of Covid-19 cases should be more manageable than the first, Fed vice-chair says
Estimating the cost of a pandemic grant for the world’s poorest economies
The cost of support measures for vulnerable economies is manageable, says Steve Kamin, but political leadership may be lacking
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
Fed presses ahead with financial inclusion reforms despite disagreement
OCC has already published a final rule and shows little sign of wanting to follow central bank’s approach
US citizens report better financial health than pre-pandemic
Financial wellbeing boosted by government support and return to work, central bank says
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say