Rebecca Tolland
Rebecca Tolland writes for Hawko Review and other Independent Journal publications, covering economic data and Treasury markets and the Federal Reserve and central banks. Reporting under this byline is prepared by the Independent Journal editorial desk from primary sources, with AI assistance, and reviewed under our editorial policy.
11 articles

China Lifts FX Reserve Ratio to Cool Yuan; Markets Watch
China will raise its foreign-exchange deposit reserve ratio to 6% from November 15 to slow yuan gains. What the move means for central banks and global markets.

Hawkish Fed Bets Build as Stocks Rally Into FOMC Decision
Wall Street closed higher on renewed AI enthusiasm as oil held near April highs and a CNBC survey pointed to Fed rate hikes ahead, just not at this week's meeting.

AI job losses and women: what labor history means for the Fed
Economists say AI may hit clerical jobs held mostly by women. Telephone operators and the PC show the risk and recovery, and why Fed officials watch AI hiring.

Fed Blackout Begins Ahead of the October FOMC Statement
The Fed's blackout for the October 27-28 meeting began Saturday. Here is what the rule bars, what keeps flowing, and why the FOMC statement is the next signal.
Bowman in Bangkok: Supervisory Modernization After SVB
Bowman used a Bangkok speech to the Reinventing Bretton Woods Committee to address supervisory modernization after Silicon Valley Bank. Here is what is known and what to watch.
FRED data and AI agents: Waller on half of visits being bots
Governor Waller said AI agents now account for about half of FRED visits, traffic is growing 150% a year, and Board data will be routed to the FRED platform.

FOMC minutes vs. the statement: what each tells you
How FOMC minutes differ from the FOMC statement: timing, content, authorship, what participants' views reveal, and how to read the two documents together.

Cook on AI and inflation: near-term pressure, slower relief
Governor Cook said AI investment is adding to inflation now, productivity gains may ease prices modestly in a few years, and she backed the September rate hike.

How to read an FOMC statement, paragraph by paragraph
A reader's guide to the FOMC statement: what each paragraph does, which wording changes matter, how to read the vote line, and how it ties to the dot plot.
Waller on a hawkish Fed: what would trigger a September hike
Governor Waller said disinflation in recent data supports a hold, but a hot August inflation reading could justify raising rates at the September 15-16 FOMC.

Fed testimony: Warsh sets up five task forces on policy
In his first semiannual Fed testimony, Chairman Warsh pledged to restore price stability and named five task forces on communications and the balance sheet