US Financial Stability Oversight Council Meetings Date
14/05/2021
On Friday, May 21, Secretary Janet L. Yellen will preside over a meeting of the Financial Stability Oversight Council (Council) via videoconference. The agenda will include both an open and an executive session. The preliminary agenda for the open session includes money market mutual fund reform and the transition from LIBOR. The preliminary agenda for the executive session includes money market mutual fund reform and preliminary updates regarding Council priorities.
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues. The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and
Professional Biography:
Sean Paisan is Of Counsel in the Orange County, California, office of Jackson Lewis P.C. His practice focuses on workplace safety and health (OSHA), data privacy, and traditional employment matters, including litigation and counseling.
Sean’s first exposure to OSHA regulations occurred during his undergraduate studies while working for a construction company that helped build Disney’s California Adventure. After attending law school and working for the Los Angeles County District Attorney’s Office and the United States Attorney’s Office, Sean moved into private practice, where he focused on general liability matters, including serious injuries and fatalities. Through this experience, Sean became very knowledgeable on the myriad of Cal/OSHA regulations imposed on businesses, especially in the construction, manufacturing, and healthcare industries, and the consequences for violations of those regulations. From there, Sean became OSHA 30 certified
Today’s consumer price inflation numbers were staggeringly high.
High inflation will likely be followed by rising market interest rates (yields).
I speculate once again why I think this will prove to be the proverbial pin to prick this bubble.
The stocks market rally since April-2020 took it to an extreme valuation. It’s a bubble, pure and simple, as I’ve been writing since February. Reason doesn’t apply to bubbles – instead, they are sustained by crowd mentality. Still, all bubbles burst – the bigger the bubble, the more severe the crash. This bubble in stocks (and in bonds, real estate, etc.) is very big, in no small part due to the Fed’s policies. By most measures, the market valuation is at its highest in at least 150 years, as I detailed in my recent articles (see here and here). Once again, the Shiller’s P/E ratio, which controls for earnings cyclicality, is at its highest in at least 150 years (other than the dot-com bubble in 1999-2000):
Addressing Climate-Related Financial Risk Through Bank Capital Requirements Getty/Drew Angerer
People walk past the New York Stock Exchange on a rainy day in the Financial District, October 2018, in New York City.
Julia Cusick
Introduction and summary
The climate crisis has profound implications for every sector of the economy, every corner of society, and every aspect of public policy. Several years ago, it may have been acceptable for U.S. financial regulators to brush climate change aside as an issue left to other government departments and agencies. Today, improved data and climate-risk economic analysis, coupled with strong international consensus, make it untenable for financial regulators to ignore the critical nexus of climate change and the financial system. Even some of the conservative regulators appointed by President Donald Trump now view climate change as an important priority that falls within their remit.