News Topic: monetary policy

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008. ... Read full article

Policymakers could recommend banks establish backup facilities and the Federal Reserve could stand ready with emergency loans to limit economic shock waves. ... Read full article

Sen. Pat Toomey, R-Pa., had been among a handful of Republicans on the fence about Judy Shelton's nomination, but he said she quelled his concerns about her monetary policy views. ... Read full article

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation. ... Read full article

Authorities looking into Barclays CEO’s dealings with Jeffrey Epstein; controversial pick Judy Shelton, critics charge, would jeopardize Fed independence. ... Read full article

The BofA CEO’s $26.5 million salary was about the same as in 2018; investors hoping for quick riches still fall for cryptocurrency-based Ponzi schemes. ... Read full article

The Massachusetts senator took aim at certain views expressed by Judy Shelton, a Trump administration pick to sit on the Federal Reserve Board, that have sparked controversy. ... Read full article

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves. ... Read full article

The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1. ... Read full article

The move by the European bank regulator is a policy shift as profitability at the region's banks continues to suffer from negative rates; the German bank paid $1.1 million to win business from a senior Saudi royal. ... Read full article

The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China. ... Read full article

The president tapped the pair in July for the two remaining vacancies, but the formal announcement of his intention to nominate them didn’t come until this week. ... Read full article

Some analysts warn the loosening of bank regulations may be hiding risks; watchdogs are demanding proof that financial institutions are ready for 2021. ... Read full article

Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died. ... Read full article

The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark. ... Read full article

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues. ... Read full article

The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade. ... Read full article

In the Fed's quest to bring inflation back to its 2% target, Gov. Brainard recommended pursuing a policy she called “flexible inflation averaging.” ... Read full article