We examine the role of central bank reserves and public liquidity when secondary markets may freeze. Central bank reserves help intermediaries purchase assets during stress but crowd out investment. Under laissez-faire, intermediaries hold insufficient reserves, overlooking how aggregate liquidity reduces freeze risk. We propose a “market-backstop principle”, akin to Bagehot’s principle for intermediaries. It combines…
Mark Zuckerberg, CEO of Meta, is seen in the U.S. Capitol after a meeting in the office of Senate Majority Leader John Thune, R-S.D., March 26, 2026. Tom Williams | CQ-Roll Call, Inc. | Getty Images Meta was ordered to pay $567 million into an abatement fund in New Mexico as part of a public…
SB19 poses backstage following a performance on day one at Lollapalooza. Thursday, June 30, 2026 at Grant Park in Chicago, IL Photo by Barry Brecheisen Lollapalooza kicked off last Thursday in Chicago amidst sweltering heat. One of the weekend’s most talked about sets featured the Lolla debut of SB19, a performance which now stands as…
Chinese startup HEONE has taken the wraps off a camping accessory that sounds almost too good to be true. Dubbed HEONE-X, the company’s latest camping rig is a drone that hovers over your campsite to light it up. Currently the subject of a Kickstarter crowdfunding campaign, the gadget is a smart replacement for the usual…
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7904 compared to the previous day’s fix of 6.7895 and 6.7548 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability,…
Listen to the article 6 min This audio is auto-generated. Please let us know if you have feedback. Matt Klitus has long been drawn to health care, even considering medical school after studying chemistry and finance at Princeton. Building on his finance education instead, he spent the first 10 years of his career in management…
Demand for fractional or interim financial leadership has continued to rise in recent years, boosted earlier by the COVID-19 pandemic and more recently by artificial intelligence. The integration of AI into finance and accounting has already “changed our business dramatically in the last three months,” Jason Hope, fractional CFO and founder of Hope Financial Consulting said….
Financial stress continues to drive retirement plan leakage, as more than half of surveyed U.S. workers report above-average financial stress. According to the 2026 Financial Stress Survey by SecureSave, a workplace emergency savings account company, 22% of respondents reported having no emergency savings at all, while 56% reported experiencing moderate to high financial stress. Never…
Advisory firms spend enormous amounts of time discussing growth. Yet when you ask advisors to describe their marketing strategy, the answers are often surprisingly vague. Some say marketing is lead generation. Others think of websites, social media posts or client seminars. A few view it as something entirely separate from business development. The reality is…
October ’22 update: I used to make this recipe regularly ten years ago when my teenagers were small. I’ve been meaning to make it again for years. I finally got around to it tonight, and they were circling the kitchen like vultures, with no memory of when I used to make it before. “What is…
