The FT’s guide on what to look out for on Thursday
US central bank could begin net purchases of Treasuries early in 2026
Central bank says labour market is ‘robust’ and private balance sheets are ‘solid’
Nearly neutral
US central bank to begin debate on halting three-year phase of shrinking its balance sheet
Abundant reserves —> ample reserves —> adequate reserves —> 💥
Central bank slows pace of easing as looming court hearing against main opposition party poses threat to market sentiment
Read the October forecast from the FT’s Monetary Policy Radar team
Five reasons for the BoE to do active QT and why none of them hold true today
The IMF has not helped the sense that the global economy has reached a tipping point
Financial crises and their consequences may be harder to arrest today than in the past
Institutions borrow $15bn from standing repo facility in space of two days in sign of liquidity pressures
Top official says policymakers must proceed ‘with care’ amid mixed signals over health of US economy
A fresh regime is required for a world of high debt and large central bank balance sheets
Federal Reserve chair says inflation expectations are close to central bank’s 2% goal
Europe should design an insurance facility to act as a buffer at the heart of monetary union
Plus a deep dive on US inflation
A rare combination with uncertain implications
As I learnt to my cost, attacks on the independence of the institution never end well
Real wages fell in August for eighth consecutive month
The massive bond purchases are being unwound at a time of fierce political criticism of the monetary authorities. The controversy could limit options in future crises
Central bank’s bond run-off estimated to take reserves below ample levels late next year
With last month’s employment report delayed, the Chicago Fed’s alternative indicator deserves to be closely watched
Fiscal stand-off will weigh on economic activity at the margin, but not enough to speed up easing cycle
