The Center for Financial Stability (CFS) and the Shadow Open Market Committee (SOMC) announce a new strategic partnership in pursuit of shared goals.

Both organizations strongly believe that sound monetary policy is a necessity for financial stability, and well-functioning financial markets are critical to monetary stability.

The SOMC is an independent group of some of the world’s leading economists to provide external perspectives on policy choices by the Federal Reserve and other leading central banks.  The Committee addresses a wide range of macroeconomic issues, including monetary policy, banking and financial regulations, and fiscal policy matters that bear on monetary policy decisions.  The SOMC was founded in 1973 by Professor Karl Brunner of the University of Rochester, Professor Allan Meltzer of Carnegie Mellon University, and Anna Schwartz of the National Bureau of Economic Research.

The CFS is an independent, nonpartisan, and nonprofit educational institution focused on financial markets for the benefit of investors, officials, academics, and the public.  CFS is keenly focused on the future.  Areas of emphasis include financial crisis detection and prevention, provision of unique data and analytics to improve the study of financial markets and institutions, as well as leading working groups with high level participants representing a wide range of interests.  CFS accomplishes its objectives through the work of highly accomplished experts and input from its distinguished Advisory Board.  CFS has global reach in 188 countries.

CFS is the SOMC’s new home.

For more information on the SOMC:
https://centerforfinancialstability.org/SOMC.php

For more information on the CFS:
https://centerforfinancialstability.org/

Best regards,
Mickey Levy and Lawrence Goodman

CFS Senior Fellow Kurt Schuler was featured in the Financial Times as part of the winning team of the recent FT Alphaville Pub Quiz in Washington, D.C.  30 teams of participated.  His team from US Treasury, The Pareto Pedants, answered questions on finance, markets and economics trivia over 7 rounds.

CFS Advisory Board Member Sheila Bair is now the author of a new series of entertaining children’s books about money called “Money Tales.”

She notes that “kids ‘get money’ at an early age, and we need to feed that inquisitiveness. Over 70% of student borrowers say they wish they had better information about debt and its burdens when they decided to borrow, and over half wish they had not borrowed at all.” She wants to make sure future generations of borrowers are better prepared.

Sheila has a hidden past as a children’s book writer. She was recognized by the Council on Economic Education, Association of Educational Publishers, JumpStart Coalition, and the Institute for Financial Literacy for her efforts to teach kids and their parents about money basics.

On September 15, the new Money Tales series will include:

Billy the Borrowing Blue-Footed Booby
https://www.amazon.com/Billy-Borrowing-Blue-Footed-Booby-Money/dp/0807508128
Princess Persephone Loses the Castle
https://www.amazon.com/Princess-Persephone-Loses-Castle-Money/dp/0807566470

Her first two books, Rock, Brock and the Savings Shock and Isabel’s Car Wash, published 15 years ago, continue to sell well.

They are available for pre-order now on Amazon, for yourselves, your friends, or anyone you know with children or as donations to schools or libraries.

An important United Kingdom economics conference “Post BREXIT: Uncertainty, Risk Measurement and COVID-19 Challenges” is being held online on July 20-21.

CFS Director of Advances in Monetary and Financial Measurement (AMFM) Professor William A. Barnett will be delivering a keynote lecture “Is the BREXIT Bifurcation Causing Chaos in the United Kingdom?”

Other keynotes include:

• David Aikman: Professor of Finance and Director of the Qatar Centre for Global Banking and Finance, King’s Business School, King’s College.
• Jagjit Chadha: Director of the National Institute of Economic and Social Research (NIESR).
• Marcelle Chauvet, Professor of Economics, University of California Riverside.
• Costas Milas: Professor of Finance at the Management School, University of Liverpool.
• Patrick Minford: Professor of Applied Macroeconomics at Cardiff University.
• Federica Romei, Associate Professor in Economics, University of Oxford

The full agenda is available at
http://www.centerforfinancialstability.org/events/Post_Brexit_Conference_Programme.pdf

Attendance and registration are free of charge and available at
https://www.birmingham.ac.uk/schools/business/events/2021/post-brexit-conference.aspx

Congratulations to Professor Jane Binner, Chair of Finance at the University of Birmingham, and her colleagues for organizing a timely and impactful conference.

Congratulations to William R. Rhodes – CFS Advisory Board Chairman – for his promotion to the rank of Commander in the Legion of Honor by France.

As Bill notes, “France is our oldest ally, and the friendship between France and the United States has allowed our countries to achieve great things together and to affect the course of history and international relations.”

I was privileged to attend the ceremony and was moved by Bill’s perspective on French and American history as well as his personal engagement with France over the years.

Hence, I thought that you too might enjoy his remarks on receiving this prestigious award…
www.CenterforFinancialStability.org/speeches/William_Rhodes_Legion_of_Honor_Remarks.pdf

Congratulations to Professor Charles Goodhart for earning Central Banking’s lifetime achievement award.  Central Banking chronicles many of Charles’ monetary policy and financial stability achievements and work on:

– Monetary frameworks,
– Risk management,
– Hong Kong peg,
– Independence of RBNZ,
– FX research,
– “The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival” with Manoj Pradhan and
– Goodhart’s law.

CFS is grateful to Charles for serving as a senior distinguished Advisory Board member since inception, engaging in roundtable discussions, as well as actively guiding CFS Bretton Woods working conferences over the years.

To view the full article:
https://www.centralbanking.com/awards/7807336/lifetime-achievement-charles-goodhart