Center for Financial Stability
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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

Friday, November 21, 2014

Highlights

Lawrence Goodman comments on the increased focus on financial stability by the Fed in Asset Bubbles Are Top Concern for Heartland's Central Banker.

Kathleen Hays and Vonnie Quinn of The Hays Advantage interview Lawrence Goodman on topics such as rules versus discretion, system imbalances, and sovereign restructurings.

In a Wall Street Journal letter, A Bretton Woods Now Would Be Impossible, Lawrence Goodman notes that leaders would benefit from thinking strategically about the long term and the consequences of their actions.

CFS IN THE NEWS

Systemic Risk Conference: What Are the Odds of Financial Collapse? - New York Society of Security Analysts will be hosting a half day conference on December 3rd. Lawrence Goodman will speak on global markets and risks.

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.

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

EVENTS

Latest Research

“Market finance” (or what some like to call “shadow banking”) is shriveling to the detriment of the economy and financial market liquidity. Access to market finance has shriveled by 45% in real terms since 2008 - the largest cyclical drop in the last 40 years. Notes & Views

CFS Monetary & Financial Data Release - CFS Divisia M4 grew by 1.7% in October 2014 on a year-over-year basis versus 1.9% in September.  October 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

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

Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image
Bretton Woods 2014 Conference Image

Bretton Woods 2014 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. Please see more about the conference to see other remarks, presentations, and photos from the conference.

Future Prospects for the World‘s Foreign Exchange Rate System: Political Design vs. Evolution, Otmar Issing
Read remarks |  Read slides

Nice-Squared - Near an Internationally Cooperative Equilibrium, John B. Taylor  Read remarks |  See video

A Few Thoughts on the Current International Monetary System, Liu Mingkang  Read paper

Bretton Woods Reconsidered:The Dollar Standard and the Role of China, Ronald McKinnon   Read paper | Read slides

Marriner Eccles: Father of the Modern Federal Reserve, Spencer F. Eccles  Read remarks

Critical Issues for the Bretton Woods Institutions, William R. Rhodes  Read remarks

The 1944 Keynes Plan: An Idea Whose Time Has Now Returned?, Charles Goodhart  Read remarks

Summary and Next Steps, Randal K. Quarles  Read remarks

Thoughts on World War II in July 1944, Carole Brookins  Read remarks

What Have We Learned from Recent Research on Bretton Woods? Eric Helleiner, Eric Rauchway, and Kurt Schuler  Read paper