United States
US unemployment remains at lowest level since 1969
Hourly wage growth is at highest rate since 2009, but year-on-year inflation falls to 2%
US forward guidance had limited effectiveness, Fed paper finds
Households and firms took until 2012 to seriously consider new regime, researchers say
Fed proposes lightening regulations for large banks
Lael Brainard objects to plans, warning they could leave taxpayers “on the hook”
US inflation slowdown raises policy challenges
Inflation has seen a lull, but several factors indicate it could rebound
Fed vice-chair backs further tightening
Clarida says data likely to support further rate hikes as Mester warns US is “beyond full employment”
New York Fed files to dismiss narrow bank lawsuit
“The costs are real and continuing”, TNB says, as the New York Fed continues to delay
Dallas Fed paper analyses monetary policy rules
Results are in “stark contrast” to previous research, authors say
Former Fed chair laments US disarray
“How can you run a democracy when nobody believes in the leadership of the country?”, Paul Volcker asks
US regulatory sanctions lead to banks cutting credit costs – Finnish paper
Sanctioned banks cut loan costs by 22bp on average, researchers find
Further US tightening risks recession – St Louis Fed president
Bullard says rates “don’t have to go anywhere” but Bostic warns of potential overheating
China’s exchange rate poses major challenge to fairer trade – US Treasury
Renminbi has fallen by 6.25% against US dollar in 2018, reserves have declined by $74 billion
Is Donald Trump undermining the Fed’s independence?
Persistent commentary could impact policy-making, but dialogue is necessary, says one observer
Fed’s QE programme changed US corporate financing – BdF paper
Conventional monetary policy and QE have very different transmission mechanisms – researchers
Daly favours Fed’s gradual normalisation policy
The San Fran Fed president will be voting in the next FOMC meeting on November 7-8
Exchange chiefs back Giancarlo in tussle over CCP oversight
CFTC may block US CCPs from acceding to EU supervision
Fraud growing faster than non-cash payments, Fed finds
Cases of payments fraud are getting smaller but more common, survey finds; introduction of chip-based cards appears to have helped reverse the trend
Stress tests are ‘most significant’ regulatory outcome of crisis – Hirtle
New York Fed official says stress tests created “safe environment” for banks to raise capital
Volatility in equities may soon influence Fed policy, says Moody’s economist
US equity sell-off may be due to Fed policy, says John Lonski
Lagarde defends rate hikes as Trump calls Fed ‘crazy’
“I think the Fed has gone crazy”, US president says
Williams says Fed policy is almost normal
In achieving Fed’s mandate, “this is about as good as it gets”, New York Fed president says
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
Lower bound not a big constraint for the Fed – paper
Risks of Fed being constrained in the future are “greatly overstated”, author says
BIS paper finds trade-off in forward guidance
Forward guidance may deter economic growth, authors say
Solid US economy contributes to higher 10-year Treasury yields
Inverted yield curve less likely as long-term growth and inflation expectations rise