report April 13, 2021 Diversity within the Federal Reserve System A growing chorus has called on the Fed to diversify its ranks at all levels to reflect better the heterogeneity of the United States. So far most of these efforts speak to the diversity of the Fed’s principals, namely, the members of the Fed’s Board of Governors and the presidents of the twelve Federal Reserve Banks. In this study,... By Brookings Institute Brookings Institute
report March 25, 2021 Congruent financial regulation The turmoil that roiled financial markets after the first COVID-19 lockdowns in March 2020 underscores the need to better coordinate regulation of economically similar financial activities, whether inside or outside the banking system, according to a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 25. The paper—Congruent financial regulation by Andrew Metrick of Yale University... By Brookings Institute Brookings Institute
report March 1, 2021 A few small banks have become overdraft giants The explosion of overdraft fees makes basic banking expensive for people living paycheck to paycheck. Banks and credit unions generate over $34 billion in overdraft fees annually by one estimate. What those with money experience as ‘free checking’ is quite expensive for those without. Prior research has focused on who pays overdraft, finding a small number of people (9%)... By Brookings Institute Brookings Institute
report February 23, 2021 Government-sponsored enterprises at the crossroads Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) play a foundational role in the U.S. housing market, providing financing to lenders for nearly half of current U.S. mortgages by buying the mortgages from lenders and packaging and selling them to investors. This makes mortgages cheaper and more available across the country. During the housing boom of the 2000s... By Brookings Institute Brookings Institute
report February 17, 2021 Economic Impact Payments: Uses, payment methods, and costs to recipients Executive Summary When the COVID-19 crisis struck the United States in the spring of 2020, it posed a threat not only to the physical health of Americans but also to their financial health. The crisis found most Americans in financially vulnerable or coping positions, and many with incomes that barely made ends meet, high levels of debt, and low levels... By Brookings Institute Brookings Institute
report February 8, 2021 Gian Maria Milesi-Ferretti Gian Maria Milesi-Ferretti is a senior fellow in the Hutchins Center on Fiscal and Monetary Policy. He was previously Deputy Director in the Research Department of the International Monetary Fund (2014-21). In this role, he directed the department’s work on multilateral surveillance, including the World Economic Outlook, G-20 reports, spillover analysis, and economic modeling. Between 2012 and 2014 he... By Brookings Institute Brookings Institute
report January 29, 2021 The future of blockchain and digital markets: A perspective from the World Economic Forum On Thursday, February 11, the Center on Regulation and Markets at Brookings hosted Sheila Warren, head of data, blockchain and digital assets and member of the Executive Committee at the World Economic Forum, to talk about blockchain, digital currencies, and other recent developments in digital markets. Sanjay Patnaik, director of the Center on Regulation and Markets at Brookings, moderated... By Brookings Institute Brookings Institute
report January 22, 2021 Climate change and financial market regulations: Insights from BlackRock CEO Larry Fink and former SEC Chair Mary Schapiro There is growing interest among regulators around the world in helping to address climate change through the levers of financial market regulation. In addition, private companies are starting to elevate the importance of climate and sustainability risk for investment decisions. These developments are essential for influencing the behavior of market participants towards low-carbon investments and mitigating climate risks for... By Brookings Institute Brookings Institute
