United States
Sino-Egyptian collaboration could reshape global monetary order – expert
MoU provides further evidence of shift towards multipolar world, says professor
ECB fine-tunes plans for digital euro
Bank hails improvements to CBDC in latest progress report
Will Fed’s HQ cost overruns be enough for Trump to fire Powell?
Chair’s defenders say administration wants to use renovations bill as pretext for his removal
Fed researchers look at age-old problems in US economy
More adults are moving in with parents and retirement levels normalise post-Covid, studies find
Yield curve affects banks’ ability to lend – Boston Fed study
Central banks should consider effects when calibrating balance sheet policies, say authors
Falling immigration weighing on US GDP – Dallas Fed study
Growth in 2025 likely to be around one percentage point lower than was forecast in 2024, say authors
Former OCC chief on the sting of peeling the Basel III ‘onion’
Michael Hsu warns successors not to cut bank capital or neglect rate risks that destroyed SVB
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Splits on FOMC are no bad thing, say experts
Former policy-makers say economic uncertainty means dissent over US rates path is inevitable
AI demands ‘deep organisational changes’ at central banks – paper
NBER study finds around half of Fed roles could be impacted significantly by adoption of technology
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Ex-OCC chief urges new approach to AI explainability
Michael Hsu suggests shift from academic analysis to decision-based techniques
Tariffs worsen monetary policy trade-offs and inflation – study
Fed researchers find evidence of persistence in cost pressures stemming from levies
High-emission jobs in US more exposed to shocks – research
Kansas City Fed study says wages in ‘dirty’ industries are rising, but employment growth is not
Fed succession planning: will Trump stick to the script?
The race to succeed Jerome Powell as head of the world’s most powerful central bank has already begun
Fragmentation could lead to deflation in eurozone – panellist
Chinese and European exports are converging, firms need to decide between resilience and efficiency
Replacing migrant labour will prove costly for US agri – research
Study by Kansas City Fed says farm operators may respond by shifting to foreign production
Closer eurozone integration vital in today’s world – ECB paper
Competition from China and US tariffs cited among reasons for closer co-operation between members
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Economists denounce Trump’s ‘bullying’ of Fed chair
Experts also back Powell’s assessment rates would probably be lower were it not for tariffs
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation