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Federal Reserve Board Governor Jeremy C. Stein At the International Research Forum on Monetary Policy, Washington, D.C. March 21, 2014 [identical remarks at the International Monetary Fund 2014 Spring Meetings on April 13, 2014] “I am going to try to make the case that, all else being equal, monetary policy should be less accommodative–by which I mean that …
U.S. Office of Personnel Management Report – Governmentwide Strategy on Advancing Pay Equality in the Federal Government, April 2014 “Workforce Changes. We found that during the 20-year period from 1992 to 2012, the Federal Government workforce has undergone dramatic demographic changes. For example, there have been large shifts in the distribution of employees by occupational category and education …
Via American Banker: “The Federal Financial Institutions Examination Council said Thursday that it expects “financial institutions to incorporate patches on systems and services, applications, and appliances using OpenSSL and upgrade systems as soon as possible to address the vulnerability.” OpenSSL is open-source software that lets web sites encrypt communications with visitors. A vulnerability has been found …
Fixing the Drain on Retirement Savings – How Retirement Fees Are Straining the Middle Class and What We Can Do about Them, By Jennifer Erickson and David Madland | April 11, 2014 “Less than one in five American workers in private industry has access to defined benefit pension plans. As a result, most Americans’ quality of life during retirement depends on whether …
World Economic Outlook (WEO) Recovery Strengthens, Remains Uneven April 2014 “Global activity has broadly strengthened and is expected to improve further in 2014–15, according to the April 2014 WEO, with much of the impetus for growth coming from advanced economies. Although downside risks have diminished overall, lower-than-expected inflation poses risks for advanced economies, there is increased financial …
“The Bipartisan Policy Center (BPC) today published a new report through its Regulatory Architecture Task Force with recommendations to make better sense of the fragmented U.S. financial regulatory system. The report is authored by the task force’s co-chairs Richard H. Neiman, former New York State Superintendent of Banks and member of the congressional Troubled Asset Relief Program (TARP) oversight panel; and Mark Olson, former …
Prosperity for All: Ending Extreme Poverty, April 10, 2014 “By 2010, global extreme poverty had declined to 17.7 percent, leaving still more than 1.2 billion people confined to live on less than $1.25 a day. In 1990, an estimated 1.9 billion people (or 36 percent of the world’s population) were living in extreme poverty. To stay on …
Women’s Work – The Economic Mobility of Women Across a Generation, April 2014. “This study demonstrates that women’s increased labor force participation and earnings have enabled some families to maintain their places on the economic ladder or, particularly among families at the bottom, to move up. But, as was the case for many women in the …
“Checking accounts remain a fundamental financial product for consumers. Nine in 10 Americans have checking accounts and most rely on these accounts to make purchases, pay bills, withdraw cash, or deposit paychecks. Because checking accounts are an essential and widely used product, they need to be safe, fair, and transparent. Unfortunately, the formal disclosure documents outlining …
Baradaran, Mehrsa, Regulation by Hypothetical (February 27, 2014). 67 Vanderbilt Law Review, (October 2014), Forthcoming; UGA Legal Studies Research Paper No. 2014-09. Available at SSRN: http://ssrn.com/abstract=2402201 “First, regulation by hypothetical is an extension of the risk-management regime, which most scholars believe was either a failure or of limited efficacy. If the risk-management framework failed, as …
“IFIAR’s [International Forum of Independent Audit Regulators] Report on 2013 Inspection Findings Survey summarizes key inspection results from audits of public companies, including systemically important financial institutions, submitted by 30 IFIAR members. These results came from inspection reports issued during the members’ most recent annual reporting periods that ended by July 2013. The leading areas of …
“The global financial crisis challenged the existing monetary policy paradigm. Before the crisis, dangerous financial imbalances grew under stable output gaps and low inflation. After the bust, a massive stimulus mitigated the downturn, but could not prevent the deepest recession since the Great Depression, as policy rates rapidly hit the zero lower bound (ZLB), and …
