Independence
Trump’s shadow looms over review of regional Fed heads
Experts say president could use process to further erode bank’s independence
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
BoE chief economist says slowing QT risks bank’s independence
Financial stability operations should tame any future gilt market dysfunction, says Huw Pill
Miran praises tariffs, deportations and deregulation
Trump appointee says interest rates should be 200bp lower in first speech as governor
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
BI makes third surprise cut as lawmakers mull its mandate
Bank says 25bp easing aimed at promoting growth, pledges further monetary-fiscal policy alignment
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
Fiscal expansion raises concerns for BI’s independence
Central bank says it will align policy to reduce cost of government spending programmes
ECB’s Cipollone reveals plans for digital euro infrastructure
Mobile app to enable “basic functionality”, with transactions processed in three different regions
No ‘race to the bottom’ if Fed is forced to cut – Schnabel
ECB board member says politicised US central bank would be “very disruptive”
Lagarde says US-EU deal lowered uncertainty ‘considerably’
ECB president voices concern over Fed independence, French debt
How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Bulgarian National Bank denies shielding sanctioned oligarch
Central bank calls political party’s claim “unacceptable political interference”
Trump calls for Fed governor Cook to resign
Federal Housing Finance Agency director accuses the governor of mortgage fraud
Bank of Korea defends current board composition
South Korea’s ruling party proposes to cut BoK members on board and install labour representative
Banrep’s Villar voices support for monetary independence
Colombian central bank governor defends constitutional arrangements amid attack from president
On the eve of the Fed’s framework review
Experts speak about the Fed’s monetary strategy review, including the role of flexible average IT and the need to better communicate policy trade-offs
More independent central banks take on greater risk – ECB paper
Low rates, tighter fiscal policy and good growth accompanied by higher risk-taking on balance sheets
Fed holds rates, despite pressure from White House
Experts say stance is in response to Trump’s trade policies and lament his attacks on central bank
Markets bet on cuts when Trump threatens Powell – research
Economists link attacks on Fed independence with expectations of policy easing