Chicago Fed Letter
Preventing the Next State Budget Crisis: A Conference Summary
On September 17, 2018, over 100 researchers, academics, policymakers, and business people gathered at the Federal Reserve Bank of Chicago to explore strategies and methods for improving state fiscal stability and performance while promoting budgetary transparency. The Chicago Fed cosponsored the program with the Volcker Alliance, the Pew Charitable Trusts, and the Lincoln Institute of Land Policy.
Digital Innovation, Generational Shifts, and the Transformation of Financial Services
Lamont K. Black, Shruti Khetan, Emmanuel Akwafo, Nathan Halmrast, Christa Harris, and Ana Oppenheimer
The Chicago Fed’s Supervision and Regulation Department and DePaul University’s Center for Financial Services held their 11th annual risk conference on April 4–5, 2018. The conference brought together financial industry professionals, academics, and regulators to discuss the technological and generational transformation of financial services and evolving issues concerning risk management and bank regulation.
A “Principled” Approach to International Guidance for Central Counterparties
Following the 2007–08 financial crisis, the G20 agreed to implement a clearing mandate, requiring all standardized over-the-counter derivatives to be cleared through a central counterparty (CCP). The central role of CCPs in post-crisis financial markets has increased the interest of both national authorities and international standard setters in CCP regulation.
Economic Growth to Accelerate in 2018 and Then Ease in 2019 as Auto Sales Downshift
William A. Strauss and Thomas Haasl
According to participants in the Chicago Fed’s annual Automotive Outlook Symposium (AOS), the nation’s economic growth is forecasted to improve this year and then moderate close to its long-term average in 2019. Inflation is expected to increase in 2018 and to pull back in 2019. The unemployment rate is anticipated to decrease to 3.8% by the end of 2018, but then tick back up next year. Light vehicle sales are predicted to decrease from 17.2 million units in 2017 to 17.0 million units in 2018 and then to 16.7 million units in 2019.
