Member Views

The Flawed Premises Behind Janet Yellen’s China Visit

BWC member Hung Tran writes that Janet Yellen's visit "will not meaningfully improve... relations, as the two nations’ core interests remain at odds with each other" because "attempts to compartmentalize areas of cooperation... will fall flat" and "Chinese officials see both de-risking and decoupling as efforts to hinder China’s economic growth."

The Fed’s quantitative easing program cost too much

BWC chair William C. Dudley writes for Bloomberg Opinion that "officials should evaluate the quantitative easing program" as part of next year's review.

"The aim should be to learn from past mistakes... focusing not only on the benefits, but also on the costs."

The Fed’s New Dollar Token Policy, and Why It Matters

A version of these remarks was delivered at the 5th Annual Cryptocurrency and Blockchain Summit held in Cambridge, UK on 7 September 2023 as part of the panel presentation: “The Future of Money – Stablecoins v. Central Bank Digital Currencies”

The Fed Will Slow QT. What Matters Is Where It Stops

The Bretton Woods Committee is pleased to Member Spotlight a recent Bloomberg Opinion article by BWC Chair Bill Dudley. In the op-ed, Dudley emphasizes the importance of the central bank trimming its balance sheet effectively and replenishing stimulus resources without causing market instability.

The Fed Needs More Flexibility to Act More Equitably

The Fed must be equipped to handle the threat of deflation caused by widespread catastrophic natural disasters — without exacerbating inequities.

The Fed Can Fight Both Inflation and Bank Contagion

BWC chair Bill Dudley says in a piece for Bloomberg Opinion that for the Fed, "what matters is that it do what’s needed on the financial stability side as soon as possible, so that it can safely pursue the right monetary policy at future meetings."

The Fate of Asset Inflation After COVID

COVID-19 was the greatest public health crisis in a century, and it engendered the greatest economic crisis since the Great Depression.

The Failure of Silicon Valley Bank – Are There Lessons for the Basel Regulatory Framework?

The collapse of Silicon Valley Bank (SVB) on March 10 was a failure that should not have occurred. A confluence of factors involving regulators, SVB management, and its depositors came together in an adverse way to bring down the bank.

The EU’s post-Brexit finance ambitions miss an important point

Although the British political system appears to have staved off a no-deal Brexit for now, London still faces an existential threat.

The Enrico Letta Report and the state of the EU’s Capital Market Union

BWC member Hung Tran writes for the Atlantic Council that "the Letta report has focused attention to the need to complete and upgrade the Capital Market Union... to help the EU improve its economic performance in an era of geopolitical rivalry."