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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, 8 July, 2025
    Central banks
    Who should deliver the monetary message? Premium content

    Being ‘one of us’ matters amid US presidential challenge

    Andrew Bailey, Chang Yong Rhee, Jay Powell, Christine Lagarde and Kazuo Ueda sit alongside each other on a panel
  • Tuesday, 1 July, 2025
    Central banks
    A week of central bank communication horror shows Premium content

    US contemplates the potential disaster of a shadow Fed chair and the ECB gets too cocky

    FT montage of Jay Powell and Christine Lagarde
  • Tuesday, 24 June, 2025
    Cryptocurrencies
    The dangers of stablecoins Premium content

    They are no substitute for money, even if usage is growing fast

    The headquarters of the Bank for International Settlements
  • Tuesday, 17 June, 2025
    Economic statistics
    Central banks struggle with dodgy data Premium content

    Stresses in data collection are impossible to ignore. Plus, the first signs of tariff inflation show up

    FT montage of chart lines overlaid on the world’s major central banks
  • Tuesday, 10 June, 2025
    Central banks
    Central banks can brush aside rising long bond yields Premium content

    Their credibility is strong, the spillovers are small and financial conditions are improving

    FT montage depicting Kazuo Ueda, Jay Powell, Christine Lagarde and Andrew Bailey behind charts and shapes
  • Tuesday, 3 June, 2025
    Federal Reserve
    The Fed is relishing fighting the White House flab Premium content

    Officials make clear the central bank would be a lean, mean, rate-cutting machine if the president ditched his tariffs

    FT montage of Donald Trump and Jay Powell
  • Tuesday, 27 May, 2025
    Federal Reserve
    The Fed sheds one of its three big threats Premium content

    The courts will not pose a problem, even if tariffs and the budget still do

    The US Supreme Court building
  • Tuesday, 20 May, 2025
    Trump tariffs
    Who will pay for Trump’s tariffs? Premium content

    It depends whether you ask businesses, exporters, officials or academics

    Walmart’s logo on display outside a supermarket
  • Tuesday, 13 May, 2025
    Bank of England
    A bad scenario for the UK Premium content

    The Bank of England’s efforts to highlight uncertainties require improvement

    Bank of England governor Andrew Bailey and his deputy Clare Lombardelli
  • Wednesday, 7 May, 2025
    Global Economy
    Q&A: How should central banks navigate the new world order?

    FT journalists answered your questions about the monetary policy picture in the US and the rest of the world

    Montage of Andrew Whiffin, Elettra Ardissino, Chris Giles and Joel Suss with the Federal Reserve
  • Tuesday, 6 May, 2025
    Global Economy
    We should not believe consumers who say they’ve got the blues Premium content

    Surveys of consumer sentiment tell us something, but no longer much about economics

    Barbie dolls hang on display at a supermarket
  • Tuesday, 22 April, 2025
    Federal Reserve
    Trump is making Fed chair the world’s worst job Premium content

    The president is intent on shaping the role for Jay Powell and his successor

    Montage of the Federal Reserve’s logo
  • Tuesday, 15 April, 2025
    Trump tariffs
    Tariffs are the mother of all cost shocks Premium content

    The Fed needs to consider how levies raise prices and what it should do about it

    US President Donald Trump at the Oval Office desk with Treasury secretary Scott Bessent and commerce secretary Howard Lutnick in the background
  • Tuesday, 8 April, 2025
    US economy
    How should the Fed respond to Trump’s tariffs? Premium content

    Hard choices are ahead, but the central bank should not be afraid to be hawkish

    Picture montage of Donald Trump and Jay Powell
  • Tuesday, 1 April, 2025
    US inflation
    The unmistakable whiff of stagflation on the eve of tariff day Premium content

    While US economic pain is mostly visible in soft data, that is still a problem for the Federal Reserve

    A billboard displays a message reading ‘tariffs are a tax on your grocery bill’ in Miramar, Florida
  • Tuesday, 25 March, 2025
    Federal Reserve
    Everyone misunderstands Jay Powell Premium content

    That is a problem for the Fed; plus a homily on the meaning of dovishness

    Montage including photo of Fed chair Jay Powell
  • Tuesday, 18 March, 2025
    EU economy
    The Eurozone’s moment of truth Premium content

    Its strengths and weaknesses are well known, but the Trump administration is creating new opportunities and threats

    Ukraine servicemen fire a Leopard 1A5 tank during training in the country’s Zaporizhzhia region
  • Tuesday, 11 March, 2025
    US inflation
    Central banks should fear misbehaving inflation expectations Premium content

    Widening dispersion and greater inflation uncertainty mean expectations are not as anchored as they appear

    The Federal Reserve building in Washington
  • Tuesday, 4 March, 2025
    Energy sector
    The nasty consequences of natural gas price volatility Premium content

    European wholesale prices have doubled in the past year, complicating the inflation outlook

    A liquefied natural gas tanker sits moored at the LNG terminal in the Port of Rotterdam, Netherlands
  • Tuesday, 25 February, 2025
    Federal Reserve
    How to kill the Fed’s independence Premium content

    If Trump wanted to take control, its constitutional protections are far from secure

    A montage including photos of Donald Trump and Jay Powell
  • Tuesday, 18 February, 2025
    US inflation
    Is the US suffering from seasonal inflation disorder? Premium content

    January’s bad data needs further scrutiny; plus, Bessent’s bet bombs

    County school buses stand empty in a snow-covered parking lot in Centreville, Maryland, US
  • Tuesday, 11 February, 2025
    Central banks
    How low can European rates go? Premium content

    Central banks have been defining neutral interest rates as Bessent makes a brave bet

    Bank of England governor Andrew Bailey and European Central Bank president Christine Lagarde
  • Tuesday, 4 February, 2025
    Trump tariffs
    Trump’s big tariffs and small ambitions Premium content

    Putting some numbers on the US president’s trade war threat

    The flags of Mexico, the US and Canada
  • Tuesday, 28 January, 2025
    Donald Trump
    The impotence of Trump’s words Premium content

    They don’t make much sense and don’t seem to matter much anyway

    Montage including photo of Donald Trump
  • Tuesday, 21 January, 2025
    US inflation
    People are getting Trump and inflation wrong Premium content

    Sloppy and wishful thinking has taken over the US

    Donald Trump takes the oath of office
Previous page1Next page

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