Source: AdobeStock / pedrosala According to a recent report by an international risk assessment firm Moody’s. “Based on the existing and proposed pilot programs, the development of the CBDC is done in conjunction with the existing financial market infrastructure, the two-tier model,” the report said, adding: “Under this approach, banks and other financial intermediaries...
Read MoreAnne Pettifor, LONDON – Fifty years ago, a US president closed the gold window, ended capital controls and ushered in a new era of global finance. The “Nixon shock” overnight reshaped the international monetary system, then gradually changed the status of central bankers. Instead of acting as servants of the national economy, those responsible...
Read MoreBy serving private capital markets rather than citizens and taxpayers, central banks are a major obstacle to meaningful climate action. Half a century after US President Richard Nixon and his advisers reshaped the international monetary system, now we must transform it again. LONDON – Fifty years ago, a US president closed the gold window,...
Read MoreOne of the positive aspects of the speech Jerome Powell, chairman of the US Federal Reserve, gave at the annual Jackson Hole conference this year was that it did not include the terms “inequality” and “climate change”. It was something, given the enthusiasm with which central banks have jumped on the climate and inequality...
Read MoreBy Gina Lee Investing.com – The dollar was higher Monday morning in Asia. However, moves have been limited as major Asian markets have been shut down and a large number of central banks, including the US Federal Reserve, prepare to make their final policy decisions. The US dollar index that tracks the greenback against...
Read MoreA smartphone with the Mastercard logo can be seen in front of the stock chart displayed in this illustration taken July 15, 2021. REUTERS / Dado Ruvic / Illustration / File Photo Internal U.S. government emails show frustration after Mastercard ban US trade official privately criticized India’s central bank Mastercard ban on issuing new...
Read More“Central banks must think about preserving financial stability, stability of inflation, they are not responsible for imposing a carbon tax,” said Kenneth Rogoff, professor of economics at Harvard University. An unusual question has been raised in the central bank’s public debates by an unusual person. Urjit Patel, former Governor of the Reserve Bank of...
Read MoreEuropean Central Bank (ECB) President Christine Lagarde draws a hard line between crypto assets and traditional currencies. In a new interview on David Rubenstein’s show, Lagarde explains why she thinks the word “cryptocurrency” is a misnomer. “Cryptos are not currencies – period. Cryptos are highly speculative assets that claim their fame as a currency,...
Read MoreGreen bonds and other bonds, and fixed income assets offer an explicit and ex ante guarantee of carbon neutrality The subjectsBS Reviews | Central banks The Bank of Finland has announced that its investment portfolio will be carbon neutral by 2050. While reading, I found many Western central banks making similar announcements. Confusing. A...
Read MorePERU – Rick R. Clary, President of Community Bank, announces the graduation of Linda Hessenberger from the Graduate School of Banking at Central Bank Illinois. Hessenberger of Mendota graduated Aug. 13 during the opening exercises at the 76th annual session of the prestigious Graduate School of Banking at the University of Wisconsin-Madison. Hessenberger also...
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