CFS Money Supply for January
CFS Monetary & Financial Data Release - CFS Divisia M4 grew by 0.8% in January 2014 on a year-over-year basis versus 1.8% in December. January Data Release
End of the Free QE Lunch - Based upon the CFS monetary and financial data, it appears that the seemingly free lunch from quantitative easing (QE) is nearing an end. Notes & Views
A Path to Positive Debt Workouts
A messy default and restructuring in an advanced economy would provoke a serious systemic crisis. So, now is the time to promote a process with strong incentives for debtors and creditors to reach swift, successful, and sustainable debt restructuring agreements.
IMF Debt Plan Would Worry Keynes
The transcripts of the Bretton Woods conference, edited by CFS associates Kurt Schuler and Andrew Rosenberg, have an important passage where Keynes forcefully outlines his view regarding the IMF’s role in sovereign debt restructuring.
More on Sovereign Debt
Bank Capital Observations
Considerable debate persists surrounding the extent to which banks have actually increased their capital since the financial crisis. We consider the six largest bank holding companies (BHCs).
Today’s Central Economic Challenges
William R. Rhodes recently presented and discussed global risks at a CFS roundtable. He addressed key lessons from past crises as well as a future challenges for the U.S., China, Japan, the Euro-zone, and financial institutions.
Virtual Currency: Bitcoin
As technology propels the development of virtual worlds, members of
these communities are creating and circulating their own currency.
Bitcoin is an extraordinary development at the nexus of software
engineering and monetary theory. More
Feedback on “The Uneasy Case for Janet Yellen”
We appreciate the substantive feedback generated by the CFS paper “The Uneasy Case for Janet Yellen” by John Feldmann. I summarize the variety of feedback we received from many including Charles Goodhart, Allan Meltzer, and others. Although the appointment of the next chair of the Fed is important, in our view the recent obsession with whom that person will be obscures substantive questions such as: what should the Fed's mandate be going forward? More
|The Bretton Woods Project
The Bretton Woods Transcripts
The Bretton Woods Transcripts were discovered by CFS Senior Fellow Kurt Schuler. The book offers a front row seat at the conference that shaped the international monetary system for nearly 70 years. Available in hardcover and eBook.
Questions and Answers on the Bank for Reconstruction and Development
CFS releases an historic document on the World Bank that has never before been widely available. This document was originally prepared by the U.S. Treasury Department and distributed to delegates and journalists at Bretton Woods. It discusses the appropriate role of the Bank and provides insight into how organizers of the Bretton Woods conference expected the world financial system to evolve after the worldwide depression of the 1930s and the world war that was then raging.
Historic Documents & Memorabilia
Over 3,000 pages of historic documents, photographs, memorabilia and recollections.
Blog: What’s New with the Project?