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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

Wednesday, August 20, 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.

Lawrence Goodman discusses monetary and regulatory challenges in Bloomberg's Fed's Junk Loan Bubble Busting Seen Failing as Sales Jump.

Johns Hopkins’ Steve Hanke discusses CFS Divisia money (beginning at 1h:11m) with Steve Forbes upon the release of Forbes’ and Ames' new book.

The Bretton Woods Transcripts received the 2014 Best Scholarly Edition Award by the European Society for the History of Economic Thought.

CFS Director William A. Barnett uses Divisia aggregates to comment on the US recovery in US Money Slump Flashes Warnings As Economy Contracts by Ambrose Evans-Pritchard of The Telegraph.

CFS Advisory Board member and former Chilean Finance Minister Eduardo Aninat comments on proposed policies in the WSJ's Assault on the Chilean Miracle.

Senior Fellow Brad Bondi asserts that The Excesses of High-Speed Trading Are a Direct Result of SEC Micromanagement in this Forbes op-ed.

CFS Advisory Board Member Randal Quarles urges a thoughtful approach to regulating asset managers in this WSJ letter.

CFS IN THE NEWS

Bretton Woods 2014: The Founders and the Future - The conference will gather 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 2.4% in June 2014 on a year-over-year basis versus 2.4% in May.  June 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

Honoring the 70th anniversary of the original conference, Bretton Woods 2014: The Founders and the Future will be held at the Mount Washington Resort in New Hampshire from Sept. 3rd to Sept. 4th. The hotel will be exclusively available for the conference, just as it was in 1944. The event will gather prominent leaders from government, business, and academia in a working-group environment to focus on the FUTURE of finance and the international monetary system. More About the Conference

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.

Historic Documents & Memorabilia
Over 3,000 pages of historic documents, photographs, memorabilia and recollections.

Blog: What’s New with the Project?

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