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Chris Giles on Central Banks

‘Chris Giles on Central Banks’ is the latest weekly newsletter (sign up here) from the Financial Times. Written by economics commentator and former economics editor Chris Giles, it is an essential guide to money, interest rates, inflation and what central banks are thinking.

The newsletter dissects the current trends, discussing the latest thinking on economics relevant to central banking. It provides in depth commentary on the big themes, generating engagement with readers, as well as linking to other central banking stories on FT.com and elsewhere.

  • Tuesday, 15 October, 2024
    Central banks
    American interest rates need to rise Premium content

    Lessons for the US from the Brazilian canary in the coal mine

    Shoppers at a grocery store in Rio de Janeiro
  • Tuesday, 8 October, 2024
    US economy
    US consumers leave Europeans in their wake Premium content

    What lies behind the remarkable post-pandemic US consumption recovery?

    Shoppers carry bags from Selfridges department store and Louis Vuitton in central London
  • Tuesday, 1 October, 2024
    Monetary policy
    Pace of rate cuts is uncertain Premium content

    Central banks are in cutting mode — but how fast they will lower interest rates remains unclear

    Montage with photos of Jay Powell, Christine Lagarde and Andrew Bailey
  • Tuesday, 24 September, 2024
    Central banks
    Three questions for Jay Powell Premium content

    The Fed went all out last week. The aftershocks of the jumbo cut are still reverberating

    Federal Reserve chair Jay Powell
  • Tuesday, 17 September, 2024
    Chris Giles
    A crisis of confidence at the Fed Premium content

    Its self doubt comes in a decisive week for central banks

    Federal Reserve chair Jay Powell
  • Tuesday, 10 September, 2024
    Federal Reserve
    The Trumponomics problem for the Fed Premium content

    Tariffs, deportation and fiscal incontinence would challenge the central bank, while its independence could be under threat

    A lawn sign in opposition to former president and Republican presidential nominee Donald Trump in Beverly Hills, Michigan
  • Tuesday, 3 September, 2024
    Central banks
    Why Kamala Harris’s price proposals could be damaging for the US economy Premium content

    Presidential candidate’s economic plan is good politics but its impact is likely to be underwhelming

    A close-up image  of a pair of trainers with the words “Harris for president” on them
  • Tuesday, 27 August, 2024
    Monetary policy
    Lessons in monetary transmission Premium content

    At Jackson Hole, central bankers offered different views about the tools of their trade

    Grand Teton National Park, where central bankers gathered this week for the annual Jackson Hole symposium
  • Tuesday, 20 August, 2024
    Central banks
    The legacy of a thin market crash Premium content

    Ahead of Jackson Hole, August’s financial turmoil and feverish response now look a little silly

    Traders work on the floor of the New York Stock Exchange
  • Tuesday, 13 August, 2024
    US presidential election 2024
    Decoding Harris and Trump on inflation Premium content

    The question is whether we judge their words seriously or literally

    Donald Trump and Kamala Harris
  • Tuesday, 6 August, 2024
    Central banks
    Seven lessons from three central bank meetings Premium content

    The BoJ raised rates, the Fed was on hold and the BoE cut and then it all went wrong

  • Tuesday, 30 July, 2024
    Global inflation
    Learning to trust the forecasts Premium content

    Central bank inflation forecasts have become much more accurate, so why are they still in the doghouse?

    A montage of a card payment machine and a chart
  • Tuesday, 23 July, 2024
    Central banks
    How will the Fed and ECB change their monetary strategies? Premium content

    The fate of FAIT and a fait accompli

    A photo showing US dollar bills in a pile
  • Tuesday, 16 July, 2024
    US inflation
    ’Tis the season to be happy (about US inflation) Premium content

    Latest figures put Fed on a glide path towards monetary easing

    Fed chair Jay Powell
  • Tuesday, 9 July, 2024
    Central banks
    When inflation models go wrong Premium content

    Academic work on display at the ECB forum failed sniff and scale tests

    A view of Sintra in Portugal
  • Tuesday, 2 July, 2024
    Central banks
    Were central bankers lucky or smart in reducing inflation? Premium content

    The BIS says ‘smart’ but the evidence is patchy

    FT montage of central bank buildings
  • Tuesday, 25 June, 2024
    Central banks
    Was QE worth it? Premium content

    Quantitative easing appears to have cost British taxpayers at least twice as much as equivalents in the US, Europe and other advanced economies

    ECB president Christine Lagarde, BoE governor Andrew Bailey and US Fed chair Jay Powell
  • Tuesday, 18 June, 2024
    Central banks
    How to understand central bank QE losses Premium content

    They are real, whether countries choose to pay upfront or brush them under a giant rug

    Montage of central bank buildings
  • Tuesday, 11 June, 2024
    Central banks
    The cutting cycle begins Premium content

    But slow and steady is the name of the game

    ECB president Christine Lagarde
  • Tuesday, 4 June, 2024
    Global inflation
    Inflation ain’t behaving Premium content

    The US, Eurozone, UK and Japan each have reasons to be unhappy

    Montage of central bankers Christine Lagarde, Kazuo Ueda, Jay Powell and Andrew Bailey
  • Tuesday, 28 May, 2024
    Central banks
    The perils of data dependence Premium content

    How the ECB has coped better than the Fed and BoE in an uncertain world

    François Villeroy de Galhau
  • Tuesday, 21 May, 2024
    Global inflation
    Measurement matters Premium content

    Real rentals, fast food and awkward adjustments in an inflation index near you

    A customer shops for groceries at an M&S supermarket in London, UK
  • Tuesday, 14 May, 2024
    US inflation
    Inflation’s rental risks Premium content

    The US and UK need to see a moderation in the price of home leases

    A ‘For Rent’ sign near a home in Houston, Texas, US
  • Tuesday, 7 May, 2024
    Central banks
    European interest rates are set to diverge from the US Premium content

    It may be a bumpy ride, although the latest evidence is encouraging

    The US national flag is side by side with the European Union flag
  • Tuesday, 30 April, 2024
    US interest rates
    Is the Fed’s next move a raise in rates?

    Four reasons to doubt a hike is coming, but US inflation has been misbehaving

    A job seeker fills at a recruitment event in New Brunswick, New Jersey, US
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