United States
Fed cuts rates and halts balance sheet reduction
Decision sees hawkish dissents from Kansas and Boston Fed presidents Esther George and Eric Rosengren
Markets diverge on how far Fed will go
“There may be volatility in the markets later this week,” Fed-watcher says
Fed demands further analysis on HSBC resolution plan
Fed also questions six other large banks on assumptions made in plans, letters reveal
Ripple attempts to pacify US regulators after libra hearings
Payments service provider says crypto assets would be complementary to dollar
Fed researchers gauge tightening from balance sheet normalisation
Tightening is ‘modest’ compared to accommodation provided by asset purchases, researchers find
Gold accumulation after WWII driven by governors’ habits – research
Bretton Woods never worked as intended due in part to persistence of gold standard practices
Raising CCyBs could have ‘greatly mitigated’ 2008 crisis – St Louis Fed paper
Policy-makers could have avoided a fall in aggregate consumption of 21%, researcher finds
Fed’s floor could be ‘junked’ if credit surges – Goodhart
Credit demand and plentiful liquidity could be potent inflationary mix, Charles Goodhart says
St Louis Fed’s Bullard warns about rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
Unexpected market news weakens fund liquidity – paper
Findings important for understanding systemic risk of firms during times of stress, researchers say
BoE paper questions technological explanations for falling ‘labour share’
Measurement problems may account for less income seeming to flow to workers, authors say
New York Fed forced to clarify Williams’ speech
Spokeswoman steps in after Williams appears to hint at more aggressive policy cut
US lawmakers slam Facebook’s ‘delusional’ Libra plan
Libra executive grilled at US hearing over Facebook’s history of scandals
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
Cash no longer US’s most popular means of payment
Debit cards were the most frequently used means of payment in 2018, Fed report finds
FOMC considers using repo facility
But some committee members warn over possible financial stability risks
Cleveland Fed paper looks for reasons for flatter Phillips curve
Monetary policy responses to “output deviations” may be key factor, researcher argues
Bank of Thailand voices concerns over baht appreciation
Thai central bank says it has cut supply of short-term bonds to curb hot money inflows
Senior Fed officials diverge on future rate policy
Richmond Fed president Tom Barkin not convinced inflation concerns warrant a cut
Trump lashes out at Libra
US president says Facebook’s system will need a banking licence if it wants to be a bank; Jerome Powell says Libra not likely to be allowed to launch in 12 months
Powell says Fed will keep US “in a good place”
Some FOMC members considering rate cut to cushion possible future shocks, minutes show
US regulators loosen Volcker Rule for small banks
Regulators resist political pressure to reduce regulation on larger banks’ investments
Fed weighs reforms to stress tests
Powell says tests must evolve; Quarles and Fed watchers present potential improvements
Bank of Spain paper examines post-crisis US bond markets
Volatility is less persistent but more frequent than before global financial crisis, researchers find