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(Bloomberg) -- Federal Reserve Governor Michelle Bowman called for less opacity in bank oversight, saying the supervisory and regulatory approach needs updating so it better serves the financial system.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisProgressive Portland Plots a ComebackPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaA Filmmaker’s Surreal Journey Into His Own Private WinnipegHow to Build a Neurodiverse City“The

Federal Reserve Governor Michelle Bowman said on Monday she wanted increased conviction that inflation will decline further this year before lowering interest rates again, particularly given uncertainty around the impact of the Trump administration's new trade and other policies. "I would like to gain greater confidence that progress in lowering inflation will continue as we consider making further adjustments," to a policy rate that the Fed is currently holding steady in the 4.25% to 4.5% range, Bowman said in remarks prepared for delivery to an American Bankers Association conference. The benchmark interest rate "is now in a good place, allowing the committee to be patient and pay closer attention to the inflation data as it evolves," she said, referring to the Fed's policy-setting Federal Open Market Committee.

Federal Reserve Bank of Philadelphia President Patrick Harker sounded an upbeat note on the state of the U.S. economy on Monday, and said he saw no reason to change interest rate policy right now as the central bank continued to work to lower inflation levels. “The current data paints a picture of an American economy that continues to function from a position of strength,” Harker said in the text of a speech to be delivered before a group in Nassau, Bahamas. Inflation remains elevated but appears on track to ease over time, amid “resilient” growth and a balanced jobs market, and “these are reasons enough for holding the policy rate steady,” the official said.

(Bloomberg) -- Federal Reserve Bank of Philadelphia President Patrick Harker said monetary policy is well positioned as officials wait for more progress on inflation.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisProgressive Portland Plots a ComebackPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaA Filmmaker’s Surreal Journey Into His Own Private WinnipegHow to Build a Neurodiverse CityHarker said policy “remains restrictive”

(Bloomberg) -- Bank of England Governor Andrew Bailey warned that the UK economy is still “static,” pouring cold water over surprisingly strong growth figures at the end of 2024.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisProgressive Portland Plots a ComebackPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaA Filmmaker’s Surreal Journey Into His Own Private WinnipegHow to Build a Neurodiverse CityIn an interview on Monday, Ba

It's a stunning turnaround for Europe's biggest economy, which for much of this century had expanded exports and dominated world trade in engineered products like industrial machinery and luxury cars. Moscow's decision to cut off natural gas supplies to Germany in the wake of Russia's invasion of Ukraine dealt a severe blow. For years, Germany’s business model was based on cheap energy fueling production of industrial goods for export.

The old one, fueled by cheap natural gas from Russia and lucrative exports to China, is broken, leaving Europe's biggest economy mired in stagnation and angst about the future. Delivering that fresh growth strategy is going to be the biggest challenge for the government that takes office after a national election set for Feb. 23, seven months ahead of schedule. Multiple factors conspired to take Germany from industrial powerhouse to post-pandemic straggler: too much bureaucracy, a shortage of skilled workers, slow deployment of technology and a lack of clear direction from the outgoing coalition government are among them.