Federal Reserve Bank of Atlanta
Senior Fed officials split over the state of US job market
Regional presidents and FOMC members see US under, approaching or beyond full employment
Atlanta Fed estimates US GDP growth remains above 4%
Economy expanded by 4.1% in Q2, in strongest performance since mid-2014
Older population increases financial fraud risks – Atlanta Fed
Most financial exploitation of elderly goes unreported, researcher says
People: Maurice Obstfeld to retire from IMF in December
Macau reappoints monetary authority chairman to one-year term
People: Kosovo appoints new deputy governor
Bank of Spain has a new director-general for economics; Atlanta Fed appoints senior vice-president
Businesses less willing to accept cash payments – Atlanta Fed
Increasing number of businesses are becoming reluctant to accept low-value cash payments
Economy allows Fed to continue policy normalisation – Atlanta’s Bostic
Business contacts report concerns about trade policy and tariffs
Cash usage unlikely to disappear – Atlanta Fed
Universal access, in-person shopping and preference among low-income groups support cash
Bostic sees US economy close to jobs and inflation targets
Even with higher rates, the Fed president forecasts inflation “to run a bit above” 2% target
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
People: Weidmann re-elected as chair of BIS board
Korea appoints deputies; new Malaysian prime minister appoints team of economic advisers; new vice presidents in Richmond and Atlanta
Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016
Atlanta’s Bostic concerned by ‘proliferation of models’
Regional Fed chief says more needs to be done to understand how machine-learning algos could contribute to a major shock
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
People: Guo Shuqing secures position as head of regulator
Guo to be first official leader of the China Banking and Insurance Regulatory Commission; Atlanta Fed names new vice-president; and more
Financial literacy is ‘essential’, says Fed’s Bostic
Atlanta Fed president says financial literacy is key component to achieving employment mandate
Fed policy should become more neutral – Bostic
As the economy operates close to potential and inflation approaches target, rates can be raised, the Atlanta Fed president says
People: Bank of Finland to select new governor
Finnish governor Liikanen finishes final term in July; Seychelles reappoints governor and deputies; South Africa sets up foreign exchange committee; Atlanta Fed’s vice-president retires
US real GDP growth accelerating in 2018 – Atlanta Fed
The real-time index GDPNow forecasts an annualised expansion of 4% in the first quarter
US economy requires neutral policy – Atlanta Fed president
Although the labour market is approaching full employment, inflation remains subdued
Atlanta’s Bostic ‘sceptical’ about low inflation factors
President of Atlanta Fed is not sure technology and competitive pressures are to blame for prolonged below-target inflation
People: Atlanta and Richmond Federal Reserve banks fill senior roles
New vice-presidents among other appointments at Fed banks in Atlanta and Richmond; ESM appoints deputy counsel
Atlanta Fed names new president
Raphael Bostic will be first African-American to be a regional Fed president