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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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The Future of Monetarism after Milton Friedman Michael Bordo, Shadow Open Market Committee member, presented The Future of Monetarism after Milton Friedman at the American Economic Association, highlighting:
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Shadow Open Market Committee
The SOMC is an independent group of some of the world’s leading economists. The SOMC provides external perspectives on policy choices by the Federal Reserve and other leading central banks. More 
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Conferences on Banking Stress and Monetary Policy 
CFS Advisory Board Chair Randal Quarles led discussions in Washington, D.C. and New York on reports by CFS senior experts Sheila Bair (chair), Joyce Chang, Charles Goodhart, Lawrence Goodman and Barbara Novick covering the impact of supervisory and regulatory policies, as well as the role of monetary and fiscal policies on bank failures.
Please read the reports here:
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Data and Analytics
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Highlights
How should central banks assess and communicate risks around money growth? - CFS President Lawrence Goodman discussed monetary measures and policy at the Bank of England. Slides are available here.SOMC: Approaches for Strengthening the Federal Reserve's Effectiveness: Building on the Legacy of Charles I. Plosser (1948-2025) - Shadow Open Market Committee (SOMC) meeting videos and papers are now available here.
Economics and Chaos - Professor William A. Barnett (CFS Director of Advances of Monetary and Financial Measurement) delivered a keynote address at the Days of Applied Nonlinearity and Complexity (DANOC) conference at Aristotle University in Greece to advance developments in nonlinearity and complexity among different nonlinear scientific fields.
Shadow Open Market Committee members, Mickey Levy and Michael Bordo co-authored a Barron's op-ed, "Bowing to the Affordability Mirage." It illustrates how price controls and micromanagement policy tools cannot overcome macro policy challenges.
Michael Bordo, Shadow Open Market Committee member, presented The Future of Monetarism after Milton Friedman at the American Economic Association, highlighting the influence and importance of monetary aggregates on the macro economy.
CFS senior fellow Robin Lumsdaine and her colleagues on the European Systemic Risk Board advisory scientific committee published a superb piece, “Artificial intelligence (AI) and systemic risk.”
A Government Agency Worth Saving - The Wall Street Journal published the op-ed by Sheila Bair and Lawrence Goodman - offering concrete steps on crisis detection and prevention, data and analytics, as well as governance to restructure and refocus the Office of Financial Research – not close it down.
“Economic Bifurcation and Chaos,” CFS Director William A. Barnett will be a keynote speaker at the 12th International conference on Time Series and Forecasting (ITISE 2026).
Private Credit 2026: Navigating Liquidity, Risk and Opportunity - CFS President Lawrence Goodman participated on a panel at the New York Chapter of the Risk Management Association.
SOMC: Approaches for Strengthening the Federal Reserve's Effectiveness: Building on the Legacy of Charles I. Plosser (1948-2025), Washington, D.C.
SOMC: The Fed in The Crosshairs: Independence, Systematic Monetary Policy, GSE Reform And Financial Stability, New York, NY
Paul Vigna book launch / “The Almightier",
New York, NY
Author Paul Vigna led a discussion about his new book, “The Almightier: How Money Became God, Greed Became Virtue, and Debt Became Sin."
