United States
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
US regulators fine firms $549 million for using messaging apps
Feds say brokers violated recordkeeping laws by using WhatsApp and similar services
Shelter inflation set to fall significantly – SF Fed research
“Conservative” model predicts shelter inflation will be 0% in the US by summer 2024
Currency round-up: Austrian leader calls for right to cash
US Mint continues quarters programme; Bangladesh adopts “clean note” policy; and more
Government employment has not recovered from pandemic – Fed
Low wages could be responsible from 450,000 missing state and local government workers in US
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Kansas City Fed names new president
Former bank chief executive Jeffrey Schmid takes over from Esther George
Inequality rising in the US – Minneapolis Fed report
“Government intervention largely eliminates the cyclicality in inequality at the bottom,” research says
AI can forecast inflation more accurately than professionals – St Louis Fed
Large language models may be powerful tools but have some drawbacks, researchers say
US legislators draft bill to limit Chinese influence at IDB
Proposal demands public reports of Chinese influence and contracts at the development bank
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair
Fed leadership divided on proposed capital rules
Powell warns rules could push activity into shadow banking
US bank lobbying spending increases sharply in Q2
ABA and ICBA increased their spending by 132.6% and 264% respectively between quarters
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
US credit application rejections increase sharply
Automobile loan rejections hit highest level since NY Fed began measuring in 2013
Fed raises interest rates again after June pause
Powell says FOMC may increase rates again as it faces risks of both inflation and downturn
Cash for a very rainy, tremorous or lava-filled day
Are central banks well-positioned to keep cash flowing during natural disasters?
US Treasury bolsters ties with Vietnam’s central bank
Treasury secretary Janet Yellen says US will promote “friendshoring” with Vietnam
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
US basketball chief: sovereign wealth funds cannot buy teams
Statement follows Qatari fund buying minority stake in owner of Washington Wizards
Senate committee backs Biden’s Fed nominees
Legislators unanimously back Jefferson, but most Republicans oppose Cook and Kugler
US regulators fine Bank of America $150 million
BoA pays out nine-figure penalties for consumer malpractice for second year in a row
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results