In contrast to recently released economic data, Fed districts report seeing weakness in some areas of consumer spending and smaller profit margins for businesses.
China, Thailand, Hong Kong, and the UAE are collaborating to develop mBridge, a multi-CBDC bridge, that promises cross-border settlement in seconds rather than days.
"Banks are likely to become somewhat more cautious. That does tend to lead to somewhat greater restriction in credit that could be a substitute for further interest-rate hikes that the Fed needs to make."
With inflation heading downward, the debate is now shifting to what happens after this fight is over— and the risks of getting it wrong are high, both economically and politically.
Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, says that the need for a digital dollar doesn't currently exist and that the U.S. might adopt a CBDC several years from now, if a lot of other countries do so first.
The Senate bill's 15% minimum "book tax" on companies traditionally eligible for credits and deductions does not align effectively with the global deal brokered via the OECD.
"Russia's going to face an insurance and financial services ban. ... Why should they retaliate for an initiative that enables their oil to continue to flow through to world markets at a price that is profitable?"
DebugScreen: mobile
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"articles": [
{
"uri": "/2024/04/17/fed-beige-book-sees-slight-growth-moderating-wage-pressure/",
"title": "Fed Beige Book Sees Slight Growth, Moderating Wage Pressure",
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"summary": "In contrast to recently released economic data, Fed districts report seeing weakness in some areas of consumer spending and smaller profit margins for businesses.",
"body": null
},
{
"uri": "/2023/08/10/china-sprints-ahead-in-race-to-modernize-global-money-flows/",
"title": "China Sprints Ahead in Race to Modernize Global Money Flows",
"byline": "Bastian Benrath, Alessandro Speciale & Christopher Condon",
"kicker": "Analysis",
"prettyDate": "August 10, 2023",
"timeToRead": "9 minute",
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"summary": "China, Thailand, Hong Kong, and the UAE are collaborating to develop mBridge, a multi-CBDC bridge, that promises cross-border settlement in seconds rather than days.",
"body": null
},
{
"uri": "/2023/04/17/banks-pullback-on-lending-could-do-some-of-feds-work/",
"title": "Banks' Pullback on Lending Could Do Some of Fed's Work",
"byline": "Christopher Condon",
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"prettyDate": "April 17, 2023",
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"summary": "\"Banks are likely to become somewhat more cautious. That does tend to lead to somewhat greater restriction in credit that could be a substitute for further interest-rate hikes that the Fed needs to make.\"",
"body": null
},
{
"uri": "/2023/03/14/u-s-backstops-bank-deposits-to-avert-crisis/",
"title": "U.S. Backstops Bank Deposits to Avert Crisis",
"byline": "Craig Torres & Christopher Condon",
"kicker": "News",
"prettyDate": "March 14, 2023",
"timeToRead": "6 minute",
"image": {
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"summary": "While the Fed promises to \"fully protect all depositors,\" some question the moral hazard of protecting banks from the effects of poor decision-making.",
"body": null
},
{
"uri": "/2023/01/30/yellen-sees-low-inflation-as-a-long-term-challenge/",
"title": "Yellen Sees Low Inflation as a Long-Term Challenge",
"byline": "Christopher Condon",
"kicker": "News",
"prettyDate": "January 30, 2023",
"timeToRead": "4 minute",
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"summary": "With inflation heading downward, the debate is now shifting to what happens after this fight is over— and the risks of getting it wrong are high, both economically and politically.",
"body": null
},
{
"uri": "/2022/12/22/digital-dollar-is-a-long-way-from-reality/",
"title": "Digital Dollar Is a Long Way from Reality",
"byline": "Christopher Condon & Craig Torres",
"kicker": "News",
"prettyDate": "December 22, 2022",
"timeToRead": "3 minute",
"image": {
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"summary": "Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, says that the need for a digital dollar doesn't currently exist and that the U.S. might adopt a CBDC several years from now, if a lot of other countries do so first.",
"body": null
},
{
"uri": "/2022/11/11/yellen-says-dont-read-too-much-into-cooling-cpi-data-411-28663/",
"title": "Yellen Says Don't Read Too Much Into Cooling CPI Data",
"byline": "Christopher Condon",
"kicker": "News",
"prettyDate": "November 11, 2022",
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"summary": "Inflation seems to be slowing, but the Treasury chief emphasized that some sectors continue to fuel steep price increases.",
"body": null
},
{
"uri": "/2022/09/07/u-s-back-on-track-to-end-fossil-fuel-dependence/",
"title": "U.S. Back on Track to End Fossil Fuel Dependence",
"byline": "Christopher Condon",
"kicker": "News",
"prettyDate": "September 07, 2022",
"timeToRead": "2 minute",
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"summary": "In a speech Thursday, Treasury Secretary Janet Yellen will attempt to reframe the Biden administration's push to cut emissions from fossil fuels.",
"body": null
},
{
"uri": "/2022/08/02/yellens-global-tax-plan-gets-no-love-from-manchin-schumer-deal/",
"title": "Yellen's Global Tax Plan Gets No Love From Manchin-Schumer Deal",
"byline": "Christopher Condon",
"kicker": "News",
"prettyDate": "August 02, 2022",
"timeToRead": "4 minute",
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"kickerNode": [
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],
"summary": "The Senate bill's 15% minimum \"book tax\" on companies traditionally eligible for credits and deductions does not align effectively with the global deal brokered via the OECD.",
"body": null
},
{
"uri": "/2022/07/21/yellen-oil-cap-plan-would-blunt-russian-reprisals/",
"title": "Yellen Oil-Cap Plan Would Blunt Russian Reprisals",
"byline": "Christopher Condon",
"kicker": "News",
"prettyDate": "July 21, 2022",
"timeToRead": "5 minute",
"image": {
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"authors": [
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],
"summary": "\"Russia's going to face an insurance and financial services ban. ... Why should they retaliate for an initiative that enables their oil to continue to flow through to world markets at a price that is profitable?\"",
"body": null
}
]
}
}
