Five Finalists Vying for Fed Chair as Market Awaits Decision
The race to succeed Jerome Powell as the Federal Reserve Chair has been narrowed down to five finalists, as the process to select a new leader for the U.S. central bank continues.
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Central Banking
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Economist and Former Fed Vice Chair Stanley Fischer Dies at 81
Stanley Fischer, a renowned economist and central banker who played key roles in managing global financial crises and mentoring future leaders, has died at 81 due to complications from Alzheimer’s disease.
Central Bank Heads Discuss Future Rate Decisions and Hike Timing at ECB Forum
The heads of the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan are set to participate in a panel discussion at the ECB Forum on Central Banking, with their comments potentially impacting market sentiment. While policymakers typically stick to the script in such events, the presence of multiple central bank heads increases the likelihood of market-moving statements. Each central bank is facing similar issues but with different circumstances, making the discussion particularly interesting. Meanwhile, Bitcoin has stabilized between $30,000 and $31,000, prompting speculation about a potential surge in enthusiasm for cryptocurrencies.
ECB Officials Boldly Ready to Act with Robust Policy Amid Inflation Fight.
The ECB's Nagel has stated that the bank's job is not yet done and that it must be bold and decisive. He also warned that inflation projections contain upside risks and that wages may rise more strongly than assumed. While the bank sector is resilient, contagion risks to eurozone banks are low. Nagel also cautioned that expansionary fiscal measures risk fueling inflation further.