After a brief reprieve, Trump is back with his pretextual war against Lisa Cook, which is in fact a war against the Federal Reserve

Thoughts on the Fed Chair's disastrous press conference, the logic to his reticence (and the WSJ's flip on discretionary central banking), Texas as a business Mecca, and more on mentoring young people

Plus thoughts on Better Markets, Open USD, a review of Regime Change, the LDS institution of YW camp, and a plea on Swiss Epic

The Court's opinion exposes it -- rightly, in my view, even as I celebrate the outcome -- to searing critique of playing politics. There was a better way.

As widely expected. But much else about the opinion surprised me

Downloading with my readers about what is on my mind

Thoughts on the Kevin Warsh era, plus supervisory risks, Belle Burden's marriage memoir, and rides/gear of the week

YouTube video by Macro Musings with David Beckworth

Plus thoughts on liquidity reform, crypto over banking, the Atlanta Fed search, toe warmers, and the Securities Industry Institute

My thoughts on Treasury Secretary's critiques of Jay Powell, the 10% cap on credit card rates, the Trump lawsuit against JPMorgan Chase, the eternal debate on lifting heavy, and our dark moment in MN

Thoughts on the Federal Home Loan Banks, supervisory resilience, SoFi's new stablecoin, Flowers for Algernon, Train Dreams, and 29 Day

Merry Christmas from the Conti-Browns! We had a wonderful day, perhaps the best I can remember. Herewith, some of the top memories that made it so special.

Some thoughts on the new Financial Growth Oversight Council, the Fed's reversed hostility to novel banking, the OCC's unserious debanking report, lessons on cycling in the wind, and a guest podcast.

In 2025, I changed my party affiliation from Democrat to independent, even though I have never been more alienated by the Republican Party. Today I declare that independence and explain it.

Thoughts on arguments that no one should take seriously from Kevin Warsh, the debates about bank supervision, the abuse of US sanctions, and a preliminary report on the Philadelphia Marathon

There is a debate about whether bank supervisors should evaluate bankers’ managerial competence, versus focus on more "quantitative" measures. History is on the side of qualitative supervision

Links on the Fed Chair search led by Bessent (however you prounce that), debanking and antifa (whatever that is), the Strava vs Garmin lawsuit (that just went away), AML in UK, and Ride of the Week