Earlier this week, while most of us were still trying to wrap our heads around the Fed's emergency lending plans, consumer advocate Ralph Nader fired-off an irate letter to its Chair, Jay Powell. Nader's letter didn't take issue with any of those plans. Instead, it accused Powell…
While it appears the combination of ample liquidity injections by the Fed and soft loans guaranteed by the Small Business Administration has managed to ease concerns of a looming and massive cash crunch across the economy, there is at least one group of financial firms that has…
Money-market mutual funds (MMMFs) have had a turbulent couple of weeks. On March 18, the Federal Reserve System created a Money Market Mutual Fund Liquidity Facility (MMLF) to "assist money market funds in meeting demands for redemptions by households and other investors." What's the source of the…
This morning, upon logging in to my Twitter account, I found it brimming with reports that the Hong Kong government was about to embark upon an unprecedented experiment with helicopter money. "Helicopter Money is Here," blurts an FT Alphaville headline. "Hong Kong Embraces Helicopter Money," says Zero…
Uncertainty about the application of the securities laws has been an important concern, and a barrier to growth, for many crypto projects. Commissioner Peirce's safe harbor would go a long way toward addressing that uncertainty.