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The next step in the European monetary and political experiment has to be more radical than the last
US central bank’s move to reduce $9tn balance sheet comes alongside steep rate rises to tackle persistent inflation
Or on rate volatility
Inflation pressures and asset bubbles are a sign that the central bank has been distracted from its core mission
The era in which American monetary policy could rely on the ‘Goldilocks’ scenario is receding
Central bank choices will always help some people more than others
US officials plan to reduce holdings amassed during the pandemic by up to $95bn a month
Asset shedding plan comes as US central bank likely to implement 0.5% rate rises at future meetings
US central bank is set to unwind massive pandemic-era stimulus measures
The likely cost of suppressing inflation is a reduction in Fed balance sheet accompanied by recession
And is the bond market just stupid?
And the return of services
Don’t count on the central bank intervening over market volatility
Markets could soon see a shortage of buyers for some assets relative to supply
Powell is unlikely to surprise watchers today, but tightening could come at a sharper-than-expected tick later this year.
Christopher Leonard’s compelling account of central-bank decision-making — and why the 2008 financial crash never really ended
Putting greater emphasis on quantitative tightening would be an important sign of independence
Not even the central bank has a clear idea
The possibility of higher rates and a smaller balance sheet presages a rocky year for markets.
Markets on edge as US central bank looks to trim bond holdings that have ballooned in past two years
In misjudging the risk of rising prices, the Fed gave markets a profitable 2021 but more difficult year ahead
In an almost simultaneous change of heart, policymakers are moving to raise rates and ditch crisis support
US central bank crystallises stimulus withdrawal plans as prices rise and job market recovers
Central bankers ought to wonder why they succumbed to a fantasy about the Great Depression
Vice-chair’s remarks suggest US central bank could act more quickly to tame soaring inflation