Center for Financial Stability
Thought Leadership
Center for Financial Stability

The Center for Financial Stability is an independent, nonpartisan, and nonprofit think tank focused on financial markets for the benefit of investors, officials, and the public.  More

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Daily News & Views Blog

Tuesday, October 21, 2014

Highlights

In a Wall Street Journal letter, A Bretton Woods Now Would Be Impossible, Lawrence Goodman notes that leaders would benefit from the Bretton Woods playbook to think more strategically about the long term and the consequences of their actions guided by short-term self interest.

CFS IN THE NEWS

Cyber Security - As part of our public / private partnership with the FBI, CFS and the FBI discussed NYC readiness and steps that firms can take to be prepared in the event of a cyber attack.

Bretton Woods 2014: The Founders and the Future - The conference gathered prominent leaders from government, business, and academia in a working-group environment to focus on the future of finance and the international monetary system.

High Frequency Trading - CFS hosted discussions on high frequency trading, market structure, and trading issues in New York and Washington, DC.

Cyber Threats to the Financial System - The CFS Vulnerabilities Working Group hosted a discussion of emerging risks surrounding cyber security and threats to the financial system.

China and Its Financial Priorities - CFS hosted a roundtable discussion with Carl E. Walter.

EVENTS

Latest Research

CFS Monetary & Financial Data Release - CFS Divisia M4 grew by 2.5% in August 2014 on a year-over-year basis versus 2.6% in July.  August Data Release

Through the lens of the “what,” “who,” and “why,” it is clear that Bretton Woods presents vital lessons for today. More

Bradley J. Bondi and Christopher Jones examine reasons for the dearth of prosecutions of Wall Street executives stemming from the financial crisis.  More

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.  More

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

More on Sovereign Debt

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. More

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

More About the Conference
CFS extends our warmest thanks to all of the delegates who joined us in Bretton Woods and contributed to the success of Bretton Woods 2014: The Founders and the Future. Below are articles about the conference and interviews with delegates.

From Bretton Woods, Calls for Global Monetary Stability
Bloomberg, Rachel Evans

What the World Needs Now Is NICE Monetary Policy, John Taylor Says
The Wall Street Journal, Josh Zumbrun

Argentine Economist Says Bond Holdouts Should Be Paid
The New York Times, Landon Thomas Jr.

Yen to Weaken After Pension Fund Reforms, Panel Adviser Ito Says
Bloomberg, Rachel Evans

The Secret Life of Marriner Eccles
The Wall Street Journal, Josh Zumbrun

Ex-FDIC Chief Bair Criticizes Bank Rules for Adding Complexity
Bloomberg, Rachel Evans

I.M.F. Considers Rules to Force Bondholders to Share Cost of Restructuring
The New York Times, Landon Thomas Jr.

Ex-BOE’s Tucker Says Bank Regulation Susceptible to Arbitrage
Bloomberg, Rachel Evans

U.S. Should Expand Role with World Bank, Former Official Says
Bloomberg, Rachel Evans

Dollar Still Premier Reserve Currency, For Now
MNI News, Vicki Schmelzer

Bloomberg Radio Interviews of Conference Delegates on The Hays Advantage: