Questions are increasingly being raised about whether the Federal Reserve should be kinder and gentler in its rate-hiking campaign, taking into account the strains from higher dollar borrowing costs and a surging dollar on foreign economies. The answer is no – the Fed’s job is at home. Chair Jerome Powell routinely responds to these questions by confirming that the Fed is in close contact with foreign central banks and that the best contribution the US can make to global health is to vanquish inflation and achieve price stability.
UK rates will go higher, but not as far as markets expect By Neil Williams By raising Bank Rate by 75 basis points on 3 November – the Monetary Policy Committee’s biggest hike yet – Bank of England Governor Andrew Bailey is showing the strength of his conviction to get consumer price inflation back to its 2% medium-term target.
MEETINGS Risk and transition in a digital economy Thursday 17 November, Broadcast Paul Tucker, former deputy governor of the Bank of England, sits down with a panel led by OMFIF’s Mark Sobel, US chair, to discuss his forthcoming book, ‘Global Discord: Values and Power in a Fractured World Order’.
ON DEMAND November’s FOMC meeting Steve Cecchetti, professor of international finance at Brandeis University, and Christopher Smart, chief global strategist and head of the Barings Investment Institute, join OMFIF to discuss the outcome of November’s FOMC meeting and their views on the future course of US monetary policy.
LATEST REPORT Digital assets: Regulation and infrastructure for an evolving economy This report examines the economic opportunities digital assets present, looking at different kinds of digital assets and the possibilities they offer for businesses and individuals to deliver value and generate revenue.
