United States
‘Imaginations are running wild’ – Nagel on AI
Europe is prepared for a financial downturn, Bundesbank president says
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
Advanced economies’ debts are ‘unsustainable’ – research
US, Japan and European nations need to get their fiscal act together, says study by Belgian central bank
Poorer areas in US have higher food inflation – research
Low-income areas also have less disinflation after shocks pass, Atlanta Fed study finds
Daly debates whether US is reliving 90s boom or 70s inflation
San Francisco Fed chief says getting answer right will help in formulating best policy response
What lies beneath China’s SDR proposal?
Experts discuss whether the PBoC’s vision for an SDR-led international monetary system would represent a ‘monetary straitjacket’ or an ideal ‘dollar replacement’
No Fed G-Sib buffer reform in 2025, say experts
Recalibration of method 2 seen as more likely than its abolition; banks resist daily averaging
Hungary to receive Argentina-style US swap line, PM suggests
‘Financial shield’ to render EU measures ineffective, Orbán says
Tariffs not increasing activity or jobs in US manufacturing – study
Labour supply constraints and increased input costs are holding sector back, say Fed researchers
Bundesbank following US instability ‘very closely’ – Nagel
Central bank president says AI and geopolitics pose risks to financial stability
Ex-governor says Fed should use Treasury derivatives in crisis
Doing so could split response from monetary policy and hedge interest rate risks, argues Jeremy Stein
Carney to direct BoC to administer open banking and stablecoins
PM’s first budget plan includes funding allocation for central bank to administer relevant legislation
Banks grapple with Fed’s double deadline on stress-test plans
Supervisor consulting simultaneously on next year’s test scenario and broader model changes
Cook: US labour market solid, inflation to remain elevated
Governor differs from fellow members of Fed board in first speech since Trump’s attempted dismissal
Posen predicts Supreme Court will side with Cook
However, PIIE president tells panel that justices are still likely to undermine Fed independence
Stablecoins should be tightly regulated – HSBC exec
John O’Neill says lender’s views on the assets are aligned with those of central banks
Fed accepts wealth redistribution at top, says ex-Kansas City chief
Hoenig calls for new accord with Treasury, as fellow former governors defend Fed independence
Stablecoins to trigger rise in demand for Treasuries – study
Authors say sector’s growth could take demand from around $300bn today to $2trn by 2030
Fed cuts rates with dissenting votes in both directions
Risks to employment and prices split FOMC three ways
Former Kansas City Fed chief sounds alarm over banks’ leverage
Hoenig says largest lenders are not adequately capitalised for their risks
Bessent includes former Lehman banker on Fed shortlist
Rick Rieder joins Bowman, Hassett, Waller and Warsh in running to replace Powell
Miran threatens Fed independence and lacks credible analysis, say experts
Economists disagree with governor's assessments of neutral rate and forthcoming inflation
US long-term unemployment uptick worries researchers
Minneapolis Fed authors point to ‘large and consequential trend’ upwards