September 2, 2026
United States:
Fed Chairman Warsh Lays Out His Own Data Dashboard for Reading the US Economy
Federal Reserve Chairman Kevin Warsh used his keynote speech in Jackson Hole, Wyoming, last week to map out some of the key data points he leans on to read the US economy, offering new insight into his approach to policy making.
The list wasn’t presented as comprehensive or conclusive, and Warsh has promised a rethink of how the central bank is analyzing economic data. Yet the remarks offered the clearest indication since he took the Fed’s helm in May of the economic signposts that shape his views.
Europe:
ECB Says Bank Risk Transfers Boost Dividends More Than Lending
European banks’ increasing use of synthetic risk transfers has a bigger impact on the dividends they pay shareholders than the loans they grant to companies, according to researchers at the European Central Bank.
When issuance of such SRTs goes up by 1%, dividend payouts rise by 0.07% while corporate loans grow by 0.02%, the ECB staffers wrote in a blog post on Wednesday. The magnitude of the latter is “too small to have a meaningful or substantial economic impact,” they wrote.
Asia:
Yen Surges with Traders on High Alert for Further Intervention
The yen strengthened sharply against the US currency, leaving traders on high alert for the potential that authorities may once again intervene in the foreign-exchange market.
The Japanese currency rallied as much as 1.2% to 158.22 per dollar, a sharp move that’s keeping market participants watching for signs that authorities are stepping into the market. It had strengthened earlier in the session after Bank of Japan Board Member Hajime Takata, one of the bank’s most hawkish members, left the door open for an outsized interest-rate move as well as back-to-back rate hikes. A gauge of the dollar, meantime, fell 0.3%.
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