Federal Reserve System
Rising advanced economy debt will push up rates in emerging markets
Rising public debt burdens are spilling across borders, and the effect may become stronger
Dan Katz on the IMF’s role amid a fracturing economic system
The first deputy managing director speaks about the fund’s efforts in technical assistance, central bank guidance, debt workouts and surveillance in a system beset by fiscal imbalances, geopolitical fissures and digital disruption
Atomic settlement: a solution to cross-border payment woes?
Experts say simultaneous settlement has the potential to improve cross-border frictions – so why are central banks lukewarm?
Warsh: I’ve focused too much on monetary policy
Fed chair vows to pay more attention to supervision, payments systems and consumer affairs
Tighter financing and high oil prices dominate Fed Beige Book
But strong variations exist between districts
Imminent US shake-up of LCR slated to include discount window
Adding Fed liquidity facility to bank regulation may help overcome stigma, raise lending capacity
Supervisory culture at Fed a ‘decades-long problem’ – Bowman
Vice-chair says there will be restructuring, while ‘tailoring’ of regulations will also change
Hammack: explaining Fed moves is accountability via transparency
Cleveland Fed CEO says setting out the reaction function is not the same as forward guidance
Oil futures gloomier than reality during conflicts – Feds note
Commodity has become hedge against macroeconomic risk, research finds
Trump sets up committee to investigate Cook
Courts had previously ruled US president had not followed due process in trying to fire Fed governor
Stablecoins could let US firms prioritise some creditors – study
FDIC may be on hook if a bank issues coins before failing, Cleveland Fed researchers say
Fed to overhaul supervision along regional lines
Bowman says restructuring aimed at implementing ‘culture of accountability’ following SVB collapse
Kansas City Fed warns of long-term AI financing risks
Highly leveraged entities may cause financial stress to spill over to broader economy
Investors price in sanctions risk for US equities – study
NY Fed authors say geoeconomic risk driven by firms’ exposure to sanctioned countries’ supply chains
Villeroy de Galhau rejects ‘populist’ critique of central banks
Independent institutions belong in driver’s seat ‘more than ever’, says former BdF governor
Fed should avoid communicating without a framework – Musalem
St Louis Fed president outlines his preferred view of monetary policy comms
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
ECB should become global lender of last resort – report
Academics put forward policy recommendations to further internationalise euro
Firms are rejecting stablecoins – Cleveland Fed study
Local businesses express scepticism about technology, with one saying ‘just pay me in US dollars’
Stress-testing Brazil’s credit co-operative safety net
Rapid growth in credit co-operatives has made a public test of FGCoop’s liquidity, replenishment and resolution capacity necessary, argues Gustavo Pessoa