Financial Markets
Highly and preemptively regulated, financial markets are a sector of the economy where new firms and their products can find it hard to gain a foothold. It’s also one where politicians, regulators, and financial institutions increasingly use their power to change the behavior of individuals and businesses outside the democratic process. Mercatus research shows how to keep the sector competitive and innovative, focused on finance and not on social causes.
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Latest work in Financial Markets
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Why 2025 Is Poised To Be a Challenging Year for the Federal Reserve | CNBC’s “Squawk on the Street”
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Assessing the Path Forward for the US Fed | BNN Bloomberg’s “The Open”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Fed Risks Reigniting Inflation as It Cuts Rate, Signals More in 2025 | “Central Bank Central” podcast
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The FOMC Should Not Lower Rates, Yet | FinRegRag (Substack)
- | Financial Markets Financial Markets
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ChatGPT 4.0 on 'Synthetic Contingent Liability' Clawback Regulation | FinRegRag
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- | TV Appearance TV Appearance
‘Not Super Concerned’ About Trump Putting Pressure on the Fed | CNBC’s “Squawk Box”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
So Long, and Thanks for all the FinReg! | FinRegRag (Substack)
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Make America Affordable Again | Newt’s World Podcast
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FinReg Roundup | FinRegRag
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- | Expert Commentary Expert Commentary
Trump Probably Won’t Try to Fire Jerome Powell | Wall Street Journal
- | Financial Markets Financial Markets
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Some Ways the Trump Administration Can Fight Debanking Without Congress (Probably) | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Yes, Simpler, Higher Capital Requirements Are a Better Capital Rule | American Banker
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
A Quick-and-dirty List of Ideas for the Trump Admin To Fight Debanking | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed’s Challenge Is Huge Deficit, Growing Debt Problem | Bloomberg TV’s “Open Interest”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
State Fair Access and Debanking Laws Bring Country’s Political and Cultural Divisions to the Fore | Consumer Finance Monitor
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- | Podcast Appearance Podcast Appearance
Navigating Economic Policy for Sustainable Growth | Banking on KC
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- | Expert Commentary Expert Commentary
Inflation’s Headed South, but Consumers Still Can’t Avoid Its Pain | DC Journal
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- | Expert Commentary Expert Commentary
Economic Resilience: A Choice, Not an Entitlement | FinRegRag
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Why 2025 Is Poised To Be a Challenging Year for the Federal Reserve | CNBC’s “Squawk on the Street”
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Assessing the Path Forward for the US Fed | BNN Bloomberg’s “The Open”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Fed Risks Reigniting Inflation as It Cuts Rate, Signals More in 2025 | “Central Bank Central” podcast
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The FOMC Should Not Lower Rates, Yet | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
ChatGPT 4.0 on 'Synthetic Contingent Liability' Clawback Regulation | FinRegRag
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
‘Not Super Concerned’ About Trump Putting Pressure on the Fed | CNBC’s “Squawk Box”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
So Long, and Thanks for all the FinReg! | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Make America Affordable Again | Newt’s World Podcast
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
FinReg Roundup | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Trump Probably Won’t Try to Fire Jerome Powell | Wall Street Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Some Ways the Trump Administration Can Fight Debanking Without Congress (Probably) | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Yes, Simpler, Higher Capital Requirements Are a Better Capital Rule | American Banker
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
A Quick-and-dirty List of Ideas for the Trump Admin To Fight Debanking | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed’s Challenge Is Huge Deficit, Growing Debt Problem | Bloomberg TV’s “Open Interest”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
State Fair Access and Debanking Laws Bring Country’s Political and Cultural Divisions to the Fore | Consumer Finance Monitor
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Navigating Economic Policy for Sustainable Growth | Banking on KC
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Inflation’s Headed South, but Consumers Still Can’t Avoid Its Pain | DC Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Economic Resilience: A Choice, Not an Entitlement | FinRegRag
Latest work in Financial Markets
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How Much Would It Cost to Guarantee Debt for All Publicly Traded US Corporations?
- | Regulation Regulation
- | Policy Briefs Policy Briefs
EDGE (Estimated Debt Guarantee Expenses) Database
- | Regulation Regulation
- | Research Papers Research Papers
Navigating Data Security Challenges: Policy Innovations and Reform Options
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- | Policy Briefs Policy Briefs
POLICY SPOTLIGHT | Fiscal Dominance—What It Is and How It Threatens Inflation Control
- | Financial Markets Financial Markets
- | Research Papers Research Papers
The Role of Inflation-Linked Debt in US Government Finances
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
POLICY SPOTLIGHT | More Bank Equity Means Less Reliance on Deposit Insurance
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Regulation, CDO Exposures, and Debt Guarantees through the Financial Crisis
- | Financial Markets Financial Markets
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Administrative Browbeating and Insurance Markets
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Should the Securities and Exchange Commission Adopt a Mandatory ESG-Disclosure Framework?
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
A Suggested Mortgage Amortization Structure: Fixed Amortization, Adjustable Principal
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Did Basel III Regulations Dampen Lending at Large Banks?
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Does the SEC Have Legal Authority to Adopt Climate-Change Disclosure Rules?
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Basel III and Excess Reserves: Another Case Study of the Unintended Consequences of Risk-Based Capital Requirements
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Large Bank Holding Company Capital Ratios before and after Basel III
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- | Policy Briefs Policy Briefs
POLICY SPOTLIGHT: Fintech Sandboxes
Promoting Innovation, Encouraging Competition
- | International Freedom and Trade International Freedom and Trade
- | Policy Briefs Policy Briefs
Evaluating the Opportunity for US-UK Financial Services Trade Liberalization
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Evidence on the Use of Disclosure Documents in Private Securities Offerings to Accredited Investors
- | Financial Markets Financial Markets
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Abandon the Concept of Accredited Investors in Private Securities Offerings
- | Financial Markets Financial Markets
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Rise of the "Quants" in Financial Services: Regulation and Crowding Out of Routine Jobs
- | Financial Markets Financial Markets
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On Regulation and Excess Reserves: The Case of Basel III
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Why 2025 Is Poised To Be a Challenging Year for the Federal Reserve | CNBC’s “Squawk on the Street”
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Assessing the Path Forward for the US Fed | BNN Bloomberg’s “The Open”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Fed Risks Reigniting Inflation as It Cuts Rate, Signals More in 2025 | “Central Bank Central” podcast
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
‘Not Super Concerned’ About Trump Putting Pressure on the Fed | CNBC’s “Squawk Box”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Make America Affordable Again | Newt’s World Podcast
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Fed’s Challenge Is Huge Deficit, Growing Debt Problem | Bloomberg TV’s “Open Interest”
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
State Fair Access and Debanking Laws Bring Country’s Political and Cultural Divisions to the Fore | Consumer Finance Monitor
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
Navigating Economic Policy for Sustainable Growth | Banking on KC
- | Financial Markets Financial Markets
- | Radio Appearance Radio Appearance
Soft Landing on Inflation, or a New Take-off? | Facing the Future
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- | TV Appearance TV Appearance
Economic Development Summit | Fox 26 KNPN-TV’s “News Press Now” (MO)
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- | TV Appearance TV Appearance
Fed Is Aware of the ‘Political Pressure’ To Cut Interest Rates | Fox Business Network
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
The Road Ahead for the US Federal Reserve | BNN Bloomberg
- | Financial Markets Financial Markets
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Fed Cuts Rates by 50 Basis Points | Yahoo! Finance
- | Financial Markets Financial Markets
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Economists Agree That Headline Inflation ‘Is Higher’ Than the Fed Thinks | Fox Business Network
- | Financial Markets Financial Markets
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Rate Cuts, US Debt, Deficit | Bloomberg TV
- | Financial Markets Financial Markets
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A Jackson Hole Special | Bloomberg Daybreak
- | Financial Markets Financial Markets
- | Radio Appearance Radio Appearance
Emergency Rate Cut? Bankruptcies Reach Highest Level In Decade | The David Lin Report
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- | TV Appearance TV Appearance
We Should Not Be Surprised if Things Are Slowing | Fox Business
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
A Simple Way to Bring Back Contingent Liability for Equity and Options Compensation
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Instead of Limiting Mergers Based on the Number of Banks and Concentration, Limit Mergers Based on Insufficient Capital
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Freddie Mac Proposed Purchase of Single-Family Closed-End Second Mortgages
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Enforcement of Federal Securities Laws Should Be Vigorous but Fair
Subcommittee on Capital Markets, Committee on Financial Services, US House of Representatives | SEC Enforcement: Balancing Deterrence with Due Process
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Avoiding Misuse of Americans’ Financial Records
House Judiciary Committee, Select Subcommittee on the Weaponization of the Federal Government | The Weaponization of the Federal Government
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Financial Privacy: Limits, Developments, and Ideas for Reform
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Basel Risk-Weighted Capital Standards: History of Poor Outcomes
House Subcommittee on Financial Institutions and Monetary Policy | The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
The Adviser Custody Proposal Exceeds Several Restrictions on the SEC
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Adopting the Proposed Order Competition Rule Would Degrade Equity Markets for Retail Traders
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Revamping and Revitalizing Banking in the 21st Century
House Financial Services Committee
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Principles for Climate-Related Financial Risk Management for Large Financial Institutions
- | Financial Markets Financial Markets
- | State Testimonies State Testimonies
A Universal Sandbox in Missouri Can Promote Innovation and Regulatory Reform
Missouri House Committee on Economic Development
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Testimony on Workforce Management Disclosures and Other SEC Issues
Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets of the Committee on Financial Services
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
ANPR Resolution-Related Resource Requirements for Large Banking Organizations
- | Financial Markets Financial Markets
- | State Testimonies State Testimonies
A Regulatory Sandbox in Ohio Can Promote Innovation and Regulatory Reform
Ohio House Financial Institutions Committee
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
The FDIC Should Restore the OSA or, at Minimum, Solicit Public Views before Regressing to the SARC
Guidelines for Appeals of Material Supervisory Determinations
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Market-Based Solutions Can Build Public Trust in Decentralized Finance
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Recommendations for Advancing US Competitiveness in the Global Digital Asset Sector
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
The FDIC Should Restore the OSA or, at Minimum, Solicit Public Views before Regressing to the SARC
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The FOMC Should Not Lower Rates, Yet | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
ChatGPT 4.0 on 'Synthetic Contingent Liability' Clawback Regulation | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
So Long, and Thanks for all the FinReg! | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
FinReg Roundup | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Trump Probably Won’t Try to Fire Jerome Powell | Wall Street Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Some Ways the Trump Administration Can Fight Debanking Without Congress (Probably) | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Yes, Simpler, Higher Capital Requirements Are a Better Capital Rule | American Banker
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
A Quick-and-dirty List of Ideas for the Trump Admin To Fight Debanking | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Inflation’s Headed South, but Consumers Still Can’t Avoid Its Pain | DC Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Economic Resilience: A Choice, Not an Entitlement | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
ChatGPT 4.0 on Simple, Higher Regulatory Capital Requirements | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Four Arguments That Might Justify “Fair-access” Laws (Pt. 3) | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Four Arguments That Might Justify “Fair-access” Laws (Pt. 2) | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Four Arguments That Might Justify “Fair-access” Laws (Pt. 1) | FinRegRag (Substack)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Bipartisan Securities Reform: Merger of the Public and Private Offerings | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Why Risk-weighted Capital Regulation Misleads | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Andrew Vollmer on SEC Climate Disclosure Rules | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Fed Needs to Modernize Its Tactics | Discourse
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
More Capital Regulation or Just More Capital? | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary