Home Banking Year of Hobson’s choice: UK recession is inevitable, January FOMC critical opportunity for Fed, and more

Year of Hobson’s choice: UK recession is inevitable, January FOMC critical opportunity for Fed, and more

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Year of Hobson’s choice: UK recession is inevitable, January FOMC critical opportunity for Fed, and more

THE WEEKEND REVIEW 

Latest opinion and analysis from OMFIF around the world

17-21 January 2022, Vol.13 Ed.3

Most-Read Commentary

Year of Hobson’s choice:

UK recession is inevitable: For UK economic policy-makers, 2022 will be the year of Hobson’s choice. Out of apparently multiple possibilities of actions, only one is actually available. Boris Johnson’s luckless-looking government may run into a slogan Margaret Thatcher made popular 40 years ago – Tina: ‘There is no alternative’. The truth is unfortunate. A recession is inevitable. It’s only a question of time, writes Brian Reading. 

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Commentary
January FOMC critical opportunity for Fed: The FOMC meets for the first time in 2022 on 25-26 January. It comes at a critical time. The FOMC’s communications at the meeting offer a crucial opportunity for the Fed to improve messaging to markets, influence inflation expectations and reduce excessive laxity in financial conditions, writes Mark Sobel. 
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Video
A macroeconomic overview and the Bank of England’s monetary policy: With the impact of Covid-19 on international monetary and financial conditions, as well as higher energy and goods prices, Catherine Mann, external member of the Monetary Policy Committee at the Bank of England, discusses the latest economic projections for the UK. 
Watch.

Podcast
Technical issues around the introduction of CBDCs and their policy implications: As economies look for ways to foster greater financial inclusion, conversations have increased around upgrading the global payments system, both wholesale and retail. Koji Fusa, CEO of GVE, joins John Orchard, CEO of OMFIF, to discuss the tension between privacy and oversight if physical cash is phased out and other issues. 
Listen. 

Commentary
UK parliament reluctant to embrace retail CBDC: The influential House of Lords economic affairs committee of the UK parliament has shown itself reluctant to embrace the digital payments revolution. In a direct snub to the Bank of England and its work on digital payments in recent years, the committee’s latest report dismisses the case for a retail CBDC, writes Philip Middleton. 
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