Operationalizing AI at the Federal Reserve
Federal Reserve Governor Waller outlined a systematic rollout of artificial intelligence across the central bank. The Fed has built a common, general‑purpose AI platform that all Reserve Bank employees can access for drafting, summarizing, and analysis. Specialized AI tools support developers with coding assistants, while embedded capabilities are integrated into existing enterprise applications such as legal and risk functions. The initiative emphasizes strong governance, model validation, and human accountability to mitigate bias, data‑security, and operational‑resilience risks.
What India’s New Inflation Data Is Hiding | The Great Confusing CPI (Consumer Price Index) Reset
India has unveiled a revamped Consumer Price Index, shifting the base year from 2012 to 2024 and overhauling the basket composition and weighting methodology. The new series shows a headline retail inflation of 2.75% in January 2026, markedly lower than...
Structural Change—Canada at a Crossroads
Bank of Canada Governor Tiff Macklem warned that Canada faces deep structural shifts as U.S. protectionism, rapid AI adoption, and demographic aging reshape the economy. He noted the central bank kept its policy rate at 2¼ % while highlighting heightened uncertainty around...
A Brief Illustrated History of the Federal Reserve’s Balance Sheet: 1914-2026
The Federal Reserve’s balance sheet has undergone dramatic swings since its 1914 inception, expanding modestly for decades before exploding after the 2008 financial crisis. Between 2008 and 2022 the sheet grew from roughly $0.9 trillion to over $9 trillion, driven by large‑scale...
Bulgarian Central Bank Deputy Governor Appointed Prime Minister
President Iliana Iotova appointed suspended Bulgarian National Bank deputy governor Andrey Gurov as interim prime minister, invoking a constitutional rule that limits caretaker‑PM candidates to ten senior officials. Gurov’s selection follows an anti‑corruption finding that barred him from his central‑bank...
Finally, CPI Inflation Has a New Base Year
India's Statistics Ministry has finally updated the consumer price index (CPI) base year, moving it from 2012 to 2024 using the 2023‑24 Household Consumption Expenditure Survey. The revision expands the index from six to twelve COICOP‑aligned divisions and introduces All‑India...
How Federal Reserve’s Decentralised Structure Produced New Ideas on Banking Policy
Recent research by Michael Bordo and Edward Prescott shows that the Federal Reserve’s decentralized structure generated fresh banking‑policy ideas in the 1950s and 1960s. In response to industry consolidation and legal reforms, the Board and regional Reserve Banks hired industrial‑organization...