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News
  • OMFIF names Janet Yellen Person of the Year - 16 Dec 2014

    OMFIF has named Janet Yellen, chairman of the Federal Reserve, Person of the Year for policies helping the US lead the global economic recovery.

  • Bassanini, Moghalu and Adonis join OMFIF - 15 Dec 2014

    OMFIF has appointed Franco Bassanini, Kingsley Moghalu and Andrew Adonis to the Advisory Board.

  • Lord (Adair) Turner on monetary policy since the crisis - 11 Dec 2014

    Addressing a packed Armourers’ Hall, Lord Turner, former chairman of the FSA, outlined how central banking has evolved since 2008.

Janet Yellen person of the year

Yellen's performance as the first woman to head the Fed is remarkable for how unremarkable it has been. She has slipped into the position as if born for it, building consensus between hawks and doves on the Federal Open Market Committee.

  • Click here for the full Commentary.
  • Franco Bassanini

    Franco Bassanini is chairman of Italy's largest development bank, Cassa Depositi e Prestiti. Kingsley Moghalu was deputy governor of the Central Bank of Nigeria from 2009-14. Lord Andrew Adonis is a reformer, writer and Labour peer. As part of the Advisory Board they will contribute to OMFIF's efforts to promote dialogue between the public and private sectors in finance.

    Adair Turner lecture

    Lord Turner explained that classical theories of the banking system no longer fully capture reality. Rather than providing finance for industry to invest, the majority of bank lending now goes into real estate. Such borrowing is often interest rate insensitive, pushing central banks to develop targeted lending and other macroprudential measures. Please click for Lord Turner's speech and slideshow.

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    Commentary

    • Fed's serene consensus builder

      by Darrell Delamaide in Washington | Tue 16 Dec 2014

      OMFIF was an early supporter of Janet Yellen. Her performance as the first woman to head the Fed is remarkable for how unremarkable it has been. She has slipped into the position as if born for it, and is named OMFIF's Person of the Year.

      MARKET: US

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    • The Karl Otto Pöhl guide to central banking

      by David Marsh | Mon 15 Dec 2014

      Karl Otto Pöhl, German Bundesbank president for 11½ tumultuous years from 1980-91, who died last week, was a man who deserved the epithet ‘legendary’. His life displays precepts that belong to the lexicon of guides to central banking style, performance and behaviour. Here are six of them.

      MARKET: Europe

      OMFIF - HomePage
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    • Tribute to Karl Otto Pöhl

      by David Marsh | Wed 10 Dec 2014

      Karl Otto Pöhl, who headed the Deutsche Bundesbank from 1980-91, died on Tuesday aged 85. He was the most prescient, erudite, eclectic, international and impatient president of an institution that, more than any other, shaped post-war Germany.

      MARKET: Europe

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    • Draghi facing problems over quantitative easing

      by David Marsh | Mon 8 Dec 2014

      Mario Draghi, ECB president, faces opposition to the unconventional policies he hopes would restore inflation and growth. But QE is unlikely to solve these problems. If QE’s opponents can hold on until spring-summer, the question might be buried for good in the context of US recovery.

      MARKET: Europe

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    CHART OF THE WEEK

    Net foreign assets and liabilities 1970-2013

    by William Baunton

    Winners and losers in debtor-creditor stakes

    Net foreign assets and liabilities 1970-2013

    Accessing the Chinese domestic growth story

    by William Baunton

    Shanghai-Hong Kong Stock Connect to open 17 November

    Accessing the Chinese domestic growth story

    Performance of public pension funds 2004-13

    by William Baunton

    Comparing the performance of GPIF with three public pension fund peers from around the world.

    Performance of public pension funds 2004-13

    Global public investors continuing to increase real estate holdings

    by William Baunton

    Market value of real estate investments of Första AP-fonden (AP1), Future Fund (FF) and Norges Bank Investment Management (NBIM) from 2008-13.

    Global public investors continuing to increase real estate holdings
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    Advisory Board Poll

    Modest tightening on the way

    6 Oct 2014: Nearly two-thirds of OMFIF advisers expect the Fed to raise interest rates above 0.5% this time next year, according to our latest poll.

    OMFIF’s Advisory Board predicts the path of federal funds rates
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