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FinRegRag is the Mercatus Center's ongoing and informal discussion of all things financial regulation.

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Latest Issues

The Fed’s Balance Sheet Girth: A Symptom, Not the Problem

Cartoon created with ChatGPT 5.5

  • The Fed’s large balance sheet is not the problem but a symptom of the problem.

  • The problem is that the U.S. fiscal authority is running annual deficits of $2 trillion.

  • The problem is that the...

13 days ago
14
2

Capital Strength: The Long Game

The Systemic Risk Council (SRC), of which I am a member, recently filed a comment with the banking agencies regarding their proposed rule that would reduce capital levels for the Nation’s largest banks. While the SRC’s comment recognizes so...

23 days ago
13
1

Evolving Private Credit

Pieter Bruegel the Elder - Landscape with the Fall of Icarus

In recent months much has been written regarding the rapid growth of private credit (PC) and related risks incubating within the financial system. This concern has been intensifi...

a month ago
14

Chairman Kevin Warsh: The New Sheriff in Town

Chairman Kevin Warsh is the new sheriff at the FOMC. He appears determined to get the markets behaving as markets and not as wards of the Fed. The policy statement was brief. It stuck to the facts. There was no forward guidance in either th...

a month ago
7
3

Chairman Warsh Takes the Reins. What Follows?

The Economy Kevin Warsh Inherits

The Iran war has made the economic outlook for 2026 more complicated and policy more difficult to define. For much of the remainder of the year, the country is likely to remain in an inflationary boom:...

2 months ago
10
1

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  • The Mercatus Center

    The Mercatus Center at George Mason University is the world’s premier university source for market-oriented ideas

  • FinRegRag
  • Thomas Hoenig

    Distinguished Senior Fellow at the Mercatus Center, George Mason University, Former President of the Federal Reserve Bank of Kansas City, Former Vice-Chair of the FDIC.

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