Making banking safe cepr.org/multimedia/mak… via CEPR

On the U.S. #Regulators Basel III Endgame proposal washingtonpost.com/opinions/2024/…

Today I submitted a letter supporting the Basel III Endgame proposal on behalf of 30 banking scholars. "The rule will strengthen large banks' capital cushions, reduce the likelihood of financial crises & position banks to remain a source of credit throughout the economic cycle."

Public Comment on #Fed #FDIC #Comptroller proposal to raise #bank #capitalrequirements (#Basel) bit.ly/Basel_III_Endg…

The Key #Policy Lessons of #SVB on ProMarket bit.ly/SVB_1YR #CapitalRequirements #Supervision #Regulation #Credibility #TimeConsistency

Key Issues for the #FOMC's #MonetaryPolicy #Strategy Review: Part 1 bit.ly/FOMC_Strategy_… #FAIT #Asymmetry #InflationTarget #PricePathTarget #PolicyToolkit #Communications #Preemption #Credibility #PriceStability

#FOMC #Monetary_Policy_Strategy_Review Part II: Is 2 Percent Still the Solution? bit.ly/Inflation_Targ… #Inflation #Target_Level #Credibility #USDollar #Effective_Lower_Bound #R_Star #Nominal_Rigidities #Uncertainty #Inflation_Aversion

#FOMC #Monetary_Policy_Strategy_Review Part III: #Policy_Tools bit.ly/FOMC_Strategy_… #Federal_Funds_Rate #Repo_Rate #Liquidity #Standing_Repo_Facility #Overnight_RRP_Facility #Balance_Sheet #Market_Maker_of_Last_Resort #Quantitative_Easing #Large_Scale_Asset_Purchases

Thoughts on the #FOMC's #Monetary_Policy_Strategy_Review Part 4 of 4: #Communication bit.ly/FOMC_Strategy_… #Reaction_Function #Systematic_Policy #Forward_Guidance #Credibility #Predictability #View_Divergence #Uncertainty #Scenario_Analysis #Summary_of_Economic_Projections

A #National_Strategy for #Bitcoin? Sell it all now! bit.ly/Bitcoin_Strate… #Stockpile #Strategic_Reserve #Money #Means_of_Exchange #Unit_of_Account #Store_of_Value #Liquidity #Volatility #Payments #Diversification #Expected_Return #ETP #Regulation #Leverage

#AI and #Financial_Stability bit.ly/AI_FinStab #LLMs #GenAI #AGI #Technology #Innovation #Finance #Risk_Amplification #Herding #Critical_Vendors #Interconnections #Spillovers #Regulation #Supervision #Map_Exposures #Autonomous_AI_Agents #New_Risks #SF_Asimov

#Euro Ironies bit.ly/Euro_Fundament… #Currency_Popularity #Germany_Election #Extremism #Political_Fragmentation #Economic_Stagnation #Policy_Uncertainty #Reform_Obstacles

#Russia #Sanctions Redux bit.ly/RussiaSanction… #Ukraine #Defense #Oil #Russia_Exports #FrozenAssets #SecondarySanctions #SanctionBusters #Embargo #OilPriceCap #ShadowTankers #International_Finance #Payments

#Russia #Sanctions Redux bit.ly/RussianSanctio… #Ukraine #Frozen_Assets #Oil #Embargo #Oil_Price_Cap #Secondary_Sanctions #Deterrence #G7 #International_Rules #Property_Rights

#Secondary #Sanctions are needed to make the #Russia Sanctions regime effective. Behind the FT paywall: ft.com/content/784b48…. See also bit.ly/RussianSanctio….

Trump's Tariffnado bit.ly/Tariffnado #Tariff #Uncertainty #ImportSubstitution #Saving #Investment #Recession #NationalAccounts #Confidence #PolicyManagement #CapitalAccount #PropertyRights #Stability #SuddenStop

Are #US #assets losing their luster? bit.ly/USAssetFlight #Confidence #FallingDollar #FallingStockPrice #FallingBondPrice #Gold #EmergingMarket #RiskPremium #SafeHaven #Volatility #InflationExpectations #Deleverage #SuddenStop

Will #Dollar Adjustment Be Smooth or Not? bit.ly/DollarAdjustme… #AmericanExceptionalism #Depreciation #Fundamentals #PolicyUncertainty #Overvaluation #FiscalPolicy #ReaganEraContrast #Unsustainability #ForeignLiabilities #PortfolioAdjustment #SuddenStop

Bank industry opponents killed US regulators' 2023 "Basel Endgame" proposal that aimed to meet international standards and raise capital requirements. These two goals are separable, from Stephen G. Cecchetti, Jeremy C. Kress, and CecchettiSchoenholtz nber.org/papers/w33982