William Mason is Director General of the Guernsey Financial Services Commission, overseeing the regulation of Guernsey’s internationally recognised financial services sector. He has championed innovation through initiatives focused on digital finance, sustainable finance and regulatory and supervisory technology. Prior to joining the GFSC, William worked in multiple roles at the FSA before and during the […]

BWC Vice Chair Rebecca Patterson discusses the takeaways from the conflict in Iran and its broader impact on global energy markets in the latest episode of her Council on Foreign Relations podcast, The Spillover. She looks at how the conflict exposed the vulnerabilities of key maritime routes like the Strait of Hormuz and the risks they pose to […]

As AI agents become more involved in making payments, traditional treasury and governance systems may need to evolve. BWC Advisory Council Member Natalya Thakur joins the Tokenized podcast and discusses the need for financial controls that happen before a payment is made rather than after. With machine-speed transactions potentially moving too quickly for traditional review, she shares […]

Fergus McCormick is Chief Economist at Prosera, where he advises multinational corporations on applying AI to strategic decision-making and supply chain resilience. He brings three decades of experience across macroeconomics, sovereign risk, and capital markets, having previously served as Chief Economist at BILL and Chief Economist and Head of Sovereign Ratings at Morningstar DBRS. Earlier […]

Hong Kong is taking a new approach to long-term economic planning. BWC Member Heiwai Tang shared his perspective with the South China Morning Post, arguing that strategic government guidance and free-market dynamism can work together to address challenges like housing, inequality, and limited upward mobility. He also pointed to Singapore, South Korea, and Japan as […]

BWC Member Christopher Smart sat down with Bloomberg to discuss what he calls a “weird time” for the US economy, highlighting solid economic data alongside slowing growth and geopolitical uncertainty. He also comments on the rapid investment in AI and data centers, saying that while profits have yet to catch up, the long-term economic potential […]

BWC Chair Bill Dudley examines Federal Reserve Chair Kevin Warsh’s early approach to monetary policy and its implications for the Fed’s credibility. Dudley raises concerns about the lack of clarity around how the Fed will respond to changes in the economic outlook and communicate its policy framework. Overall, he asserts that greater clarity will be […]

Tokenized assets continue to reinvent how money moves, settles, and interacts with financial markets. In a new OMFIF article, BWC Member Udaibir Das examines what this shift means for the future of digital money. He distinguishes between tokenized deposits, stablecoins, and central bank money, highlighting the different risks and claims each represents. Tokenization could make wholesale and […]

Jannah Patchay is Founder of Markets Evolution, an advisory firm that works with central banks, regulators, financial institutions, fintechs, and technology firms on digital finance strategy and policy. She is a leading voice in digital finance, having co-founded the Digital Pound Foundation and serving on the boards and expert groups of several international industry organizations. […]

The rapid growth of artificial intelligence continues to transform technology markets, corporate investment, and the global financial outlook. BWC Vice Chair Rebecca Patterson examines four key AI concepts, including agents, tokens, open-weight models, and compute, and explores what they mean for AI companies, investors, and markets. The article explores the increasing costs of AI development, competition […]

Departing World Bank Chief Economist Indermit Gill joined OMFIF Chairman David Marsh and Vice Chair Udaibir Das, a BWC Member, to discuss the hurdles facing the global economy. Gill highlighted the risks posed by rising debt burdens and trade policy uncertainty. He also argued that climate resilience should be the priority for most developing economies […]

Oluyomi Adebote is Director of Investment Banking at Chapel Hill Denham, where he advises clients on capital markets, corporate finance, and strategic transactions. He has led more than US$6 billion in capital raises, including several landmark transactions in Nigeria, and has advised companies and governments across the financial services, energy, technology, and infrastructure sectors. Oluyomi […]

A stronger dollar can create ripple effects across global markets, from inflation pressures overseas to financial risks in the United States. BWC Vice Chair Rebecca Patterson explores the motivations behind Washington’s recent coordinated intervention with Japan and the growing concerns surrounding currency volatility. She explains how exchange rate policy has become increasingly tied to global […]

In a recent Wall Street Journal article, BWC Member Mark Sobel examines why China’s yuan remains significantly undervalued despite President Xi Jinping’s preference for a stronger currency. Sobel argues that the yuan’s low valuation reflects China’s underlying economic model rather than exchange rate policy alone. He explains that high household savings, state-directed investment, and weak domestic consumption […]

Victoria Miles is a Founding Partner of ImpactA Global, bringing more than 30 years of experience in structured finance, infrastructure investment, and risk management across emerging and frontier markets. She previously served as a Managing Director at JP Morgan, where she held senior leadership roles in emerging markets trading, syndication, research, and risk advisory. Widely […]

As global markets navigate elevated currency pressures, policymakers are increasingly turning to coordinated action. In a new article for the Institute of International Finance, BWC Member Marcello Estevão explains how the coordinated U.S.-Japan intervention to support the yen helped restore confidence and reduce one-way trading pressures. He notes that the intervention served broader US interests […]

The race for AI dominance is often framed as a competition between the United States and China, but BWC Vice Chair Rebecca Patterson argues the story is far more complex. In a new article for the Council on Foreign Relations, Patterson explores how AI is reshaping the global balance of power and why long-term success […]

Brendan Kelly is Head of Geopolitics and Geoeconomics at BNY Investments Newton. He brings more than 20 years of experience in international economic policy, national security, and global affairs, with extensive expertise in China, international economics, and financial markets. Prior to joining BNY Investments Newton, Kelly held senior roles at the White House National Security […]

In a recent interview with Jiji Press, BWC Member Paul Sheard discusses the Bank of Japan’s monetary policy and argues that the central bank should continue raising interest rates to address inflation driven by higher import prices and a weaker yen. He explains why the Bank of Japan is now in a position to take […]

BWC Member Hung Tran examines how recent advances in artificial intelligence are reshaping the global economy. He argues that AI is reinforcing a K-shaped recovery, in which technology-driven sectors continue to accelerate while traditional industries lag behind. The article explores how the rapid evolution of generative AI is widening economic and digital divides within and […]

Rebecca Kysar is a Professor of Law at Fordham Law School and a leading expert in tax policy, international taxation, and legislative process. She previously served on the Biden Presidential Transition Team and in the U.S. Treasury Department, where she co-led negotiations on a new global tax framework and advised on the Administration’s domestic tax […]

In a new piece published by UBS, BWC Member Shamaila Khan and co-author Evan Brown argue that geopolitical disruption has stopped being episodic and is now a persistent force reshaping macro regimes through energy security, supply-chain rewiring, and reserve and fiscal diversification. The authors make the case that markets often lag these shifts, leaving strategic […]

BWC Vice Chair Rebecca Patterson joined Catalyst by Camber Creek for a wide-ranging conversation on why CEOs, policymakers, and journalists keep calling her to make sense of a turbulent global economy. Drawing on lessons from the decline of US manufacturing since the 1970s, Patterson explores what that history suggests about AI’s likely impact on labor […]

BWC Member Abdoulaye Ndiaye hosted a wide-ranging conversation with 2024 Nobel laureate James Robinson on Amani TV in Dakar, Senegal. The discussion traces Robinson’s intellectual journey from “The Colonial Origins of Comparative Development” and “Why Nations Fail” to his forthcoming book, The Wealth in People: A Theory of Africa, exploring how African societies’ historical emphasis […]

In a new article for Bloomberg, BWC Chair Bill Dudley argues that despite a benign June CPI report easing near-term pressure, the case for the Fed to tighten monetary policy remains strong. Dudley points to elevated underlying inflation alongside full employment, buoyant financial conditions that suggest policy isn’t actually restrictive, and an AI investment boom […]

BWC Member David Lubin, Senior Research Fellow at Chatham House, examines a new term from the People’s Bank of China — “jiegou fenhua,” or “structural divergence” — used to describe an economy running at two speeds: booming manufacturing and exports (China posted a record $125 billion trade surplus in June) alongside deeply depressed household spending […]

BWC Member Richard Cooper co-authored a new piece with Ignacio Lagos and Sean O’Connell examining a path forward for Venezuela’s debt restructuring in the wake of the devastating June earthquakes. The authors argue Venezuela doesn’t have to choose between a fast, uncertain restructuring and a slower, more credible one; instead, it could begin with a […]

Daniel Hornung is a Principal at Domos Partners LLC, advising investors, developers, technology companies, and nonprofits on real estate, housing finance, macroeconomics, and public policy. He is also a Policy Fellow at Stanford’s Institute for Economic Policy Research and a Nonresident Fellow at the Urban Institute. Hornung previously served in senior economic policy roles in […]

On the sidelines of the Point Zero Forum in Zurich, Switzerland—one of the world’s premier gatherings of policymakers, central bankers, and financial innovators—the Bretton Woods Committee (BWC) hosted a discussion on tokenization, AI, and future of finance, while launching its latest AI paper, Generative AI in Risk Management and Compliance. Authored by Co-Chairs of BWC’s Artificial Intelligence Working Group, […]

Appearing on CNBC’s “Squawk on the Street,” BWC Vice Chair Rebecca Patterson breaks down the forces shaping today’s economic climate, from US economic resilience to persistent inflation pressures. She discusses the implications for Federal Reserve policy, including why markets remain focused on the potential path of interest rates. Furthermore, she examines the impact of interest […]

In a new article for the Journal of Corporation Law, BWC Member Henry Hu discusses Strategy Inc. as an example of a new type of public company whose business model centers on Bitcoin rather than traditional business operations. He argues that the company’s strategy depends on issuing shares at a premium to the value of […]

David Lubin is the Michael Klein Senior Research Fellow at Chatham House, where his research focuses on China, economic policy, and the international monetary system. Before joining Chatham House in 2024, he was Managing Director and Head of Emerging Markets Economics at Citi, following an earlier career as an economist at HSBC. He holds degrees […]

BWC Member Gary Kleiman published a new piece examining the persistent data gaps in how the world measures foreign direct investment, building on the FDI-portfolio correlation analysis in his 2025 book, Emerging Economies and Financial Markets. Drawing on UNCTAD’s newly released 2025 investment survey, Kleiman unpacks a mixed picture for developing economies; FDI still accounts […]

In a new article with Rzeczpospolita, BWC Member Marcello Estevão covered Poland’s strong economic foundation and the reforms needed to sustain its long-term growth. He argues that while Poland has benefitted from decades of convergence amplified by industrial development, EU integration, and foreign investment, future success will depend on boosting productivity, innovation, private investment, and […]

Today we welcome new member Alex Simpson to BWC! Alex Simpson is a South Africa-born entrepreneur with three successful exits who now leads a platform managing over $1 billion in assets. His firm provides private fund NAV lending to high-net-worth individuals, family offices, and RIAs, helping clients unlock liquidity from illiquid assets without forced sales. […]

BWC Member Hillary Till moderated a panel discussion, AI/ML in Finance: Advancing the Future of Financial Markets, on the evolving influence of artificial intelligence (AI) and machine learning (ML) in traditional finance. Bringing together leading academics and industry executives, the discussion explored how these technologies are transforming financial markets through advancements in data analysis, risk […]

Featured on Bloomberg TV, BWC Chair Bill Dudley shared his perspectives on Federal Reserve Chair Kevin Warsh’s testimony before Congress and the importance of effective central bank communication. Dudley emphasized that maintaining clear communication with financial markets is critical to preserving the Federal Reserve’s credibility and influence. He also challenged the view that high interest […]

Today we welcome new member Paul Andrews to BWC! Paul Andrews joined WOCCU in January as Vice President of International Advocacy and Engagement. Before joining WOCCU, he served as Managing Director of the Research, Advocacy, and Standards division at CFA Institute, where he launched the CFA Institute Research and Policy Center. Prior to that, he […]

Debt crises in low-income countries stem not only from economic shocks but also from weak debt management institutions. BWC Member Udaibir Das emphasizes the need for governments to strengthen and empower debt offices to oversee the full scope of public liabilities, improve transparency, and create more resilient domestic debt markets. He argues that institutional reform […]

BWC Member Irina Shaorshadze participated in this year’s Global Interdependence Center’s Teton Economic Outlook in Jackson Hole, Wyoming. During the session, “Tariffs and War: Second-Order Effects on Households and Markets,” she shared her insights on how today’s geopolitical challenges are reshaping markets and the global economy. To read more on the event, click here. All […]

Today we welcome new member Linda Walker to BWC! Linda Walker graduated with a MBA at George Washington University, USA; with a MA at the Sorbonne, Paris; and with a BA in French Literature at the University of Delaware, USA. Furthermore, she studied at the universities of Munich and Saarbrücken, Germany. Her career at Citibank, […]

In a new episode of The Spillover from the Council on Foreign Relations, BWC Vice Chair Rebecca Patterson and cohost Sebastian Mallaby discuss the two leading alternatives to the US dollar: gold and bitcoin. Patterson argues that gold remains the more reliable store of value because of its long-standing credibility, while bitcoin offers the potential […]

BWC Member David Lubin examines the increase in capital flows to emerging economies in a Financial Times article following the end of the war in Iran. Lubin explains how he expects this to develop an increase in “hot money,” referring to easily transferable flows traded by developing countries’ capital markets. He suggests that judicious use of capital controls […]

Today we welcome new member Manoj Singh to BWC! Manoj Singh is a is a senior risk executive and a financial industry professional. He comes with a long experience in the industry, holding executive positions at various large US financial institutions in risk management, with special interest in quantitative financial modeling and risk analytics.  Most […]

In a recent article published by the German Marshall Fund of the US, BWC Member Dr. Alexandra de Hoop Scheffer describes the current transition from a US-led to a Europe-led security order. She describes how the Trump administration’s reduction in military capabilities in Europe marks the beginning of a structural burden-shift that has never occurred […]

The new Federal Reserve Chair Kevin Warsh is launching a series of structural and procedural changes aimed at reshaping how the Fed conducts monetary policy. The planned changes include, among others, streamlining communications, reducing the balance sheet, and firming their focus on price stability. This list does not, however, include a review of the Fed’s dual […]

Today we welcome new member Julie Remache to BWC! Julie Remache is Deputy Manager of the System Open Market Account (SOMA) and Head of Market and Portfolio Analysis at the Federal Reserve Bank of New York, where she works closely with the SOMA manager to implement monetary policy as directed by the FOMC. As Head […]

As artificial intelligence (AI) continues to transform the global capital markets, international financial institutions have the opportunity to leverage it to scale capital into developing economies. The United Nations Conference on Trade and Development estimates an annual financing gap of around $4.3 trillionrequired to achieve the Sustainable Development Goals (SDGs). One of the main reasons […]

In a recent panel hosted by the Cambridge Digital Innovation and Regulation Initiative, BWC Board of Directors Member Agustín Carstens joins an insightful discussion regarding the AI in Financial Services 2026 Global Report. Carstens explains how this report is a landmark global study gathering insight from hundreds of FinTech and financial institutions, AI vendors, and central […]

In two new articles shared by BWC Member Ousmene Jacques Mandeng, he discusses the recent developments of tokenized monies in the Euro Area and the emergence of stablecoins. In Mandeng’s first article, he addresses the recent concern shared by senior representatives in the Euro Area regarding stablecoins. According to him, stablecoins may undermine the “singleness […]

Today we welcome new member Martin Mühleisen to BWC! Martin Mühleisen is a former Director of the IMF’s Strategy, Policy and Review Department who previously served as principal advisor to Managing Director Christine Lagarde. As IMF economist, he was closely involved in the IMF’s response to the global financial crisis, with personal sign-off responsibility for […]

In a new episode of IIF’s Global Regulatory Update podcast, BWC Member Philippe Brahin joins Secretary General of the IAIS (International Association of Insurance Supervisors) Jonathan Dixon to reflect on recent major global disruptions and key milestones in international insurance regulation. Brahin and Dixon discuss how the IAIS has evolved throughout recent years while seeking to ensure global […]

In a new episode of the RFI Jeune Afrique podcast, BWC Member Abdoulaye Ndiaye shares insight into the major economic challenges taking place across Africa. Ndiaye goes into depth regarding Africa’s public finances, including youth employment, AI development, Senegal’s debt crisis, and even the World Cup and NBA finals. Ndiaye describes his career and commitment to the study of […]

Today we welcome new member Fiona Moran to BWC! Fiona is a Partner at Davis Polk & Wardwell LLP in the White Collar Defense & Investigations group, focusing on high‑stakes government and internal investigations, enforcement actions, and compliance matters involving major financial institutions, regulated entities, and emerging financial technologies. She has extensive experience across securities, […]

In a recent article posted by the Atlantic Council, BWC Member Martin Mühleisen discusses the influence of population aging on the global increase in political polarization. He explains how population aging and political polarization together result in a deficit bias, causing governments to lose ability to absorb major shocks and soften cycles. Mühleisen states that demographics […]

In a recent interview with CNN Business, BWC Member Heiwai Tang discusses the potential reasons why Chinese companies are increasingly expanding overseas. Tang explains how international expansion is a natural step companies take within large, growing economies to expand business and influence. He also claims that China is experiencing a deflation cycle due to impacts […]

Today we welcome new member Erik Rannala to BWC! Erik Rannala is Co-Founder and Managing Partner at Mucker Capital. Prior to founding Mucker, he was at Harrison Metal Capital, where he helped lead one of Silicon Valley’s original seed-stage micro-VC firms. Before that, he served as Vice President of Global Product Strategy at TripAdvisor and […]

In a recent article posted by the Atlantic Council, BWC Member Hung Tran dives into the expansion of financial stability risk from the tightly regulated banking sector to a variety of nonbank financial institutions (NBFIs). Tran explains that while NBFIs play a key role in diversifying funding sources and broadening access to finance, it is […]

In a recent article posted by the Atlantic Council, BWC Member Hung Tran shares his perspective on how the Federal Reserve should approach the growing presence of AI through reflection on previous Fed Chair Alan Greenspan. Tran explains how Greenspan’s strong attention to detail led to productivity and thorough data analysis. Tran points out how […]

BWC Member Roger Ferguson joined BWC Vice Chair Rebecca Patterson on a new episode of CFR’s The Spillover to reflect on Kevin Warsh’s first FOMC meeting as Fed Chair. Ferguson weighs in on the outlook for rate hikes given inflation above 3% and unresolved energy-driven price pressures stemming from the Iran war, underscoring that the Fed’s central […]

Today we welcome new member Steven Wharton to BWC! Steven Wharton is a Managing Director at JP Morgan Asset Management, where he has been a senior member of the US Equity Fundamental Research Group since 2006, covering large-cap financial sector equities including money center banks, brokers, exchanges, card lenders, and fintech. With nearly three decades […]

BWC Advisory Council Member Mark Sobel joined OMFIF for a recent discussion on the outlook for U.S. monetary policy. The conversation examined the FOMC’s current stance on inflation, growth, labor markets, and financial conditions, and assessed how effectively policy is responding to each. Sobel and his co-panelists also explored the global implications of U.S. monetary […]

BWC Member Alexandra de Hoop Scheffer joins Piotr Smolar in a new article published by Le Monde to discuss how the Iran war has prompted US allies to fundamentally rethink their relationships with Washington. As Scheffer explains, the U.S.’s increased outsourcing of crisis management to regional actors has pushed allies in Europe, the Gulf, and […]

Today we welcome new member Massimo Carassinu to BWC! Massimo Carassinu is a Managing Director in Alvarez & Marsal’s Financial Services Industry, based in Zurich. He has over 25 years of experience advising and leading global financial institutions across reinsurance and banking, including senior roles at Swiss Re and McKinsey. He holds advanced degrees in […]

In a recent episode of Kathleen Hayes’s podcast Central Bank Central, BWC Member Paul Sheard offers insight into the expected rate hike of the Bank of Japan and the Central Bank’s clear response. According to him, the Bank of Japan has been sending a clear message that there will be more rate hikes coming in the near […]

With passage of the GENIUS Act in July 2025, there has been much debate about the benefits and risks of stablecoins. GENIUS established a legal framework for the operation of stablecoins in the United States, with basic requirements for their use and consumer protection. It is expected that stablecoins will be fully approved as a […]

Today we welcome new member Marcelo Giugale to BWC! Marcelo Giugale is the former Director of the World Bank’s Department of Financial Advisory and Banking—the team who helps governments in emerging and developing countries manage their debts, assets, and risks. In his thirty-five years of experience, he led senior-level policy dialogue and over thirty billion […]

“A central bank is only as good as the person it lets act.” In a new article posted by OMFIF, BWC Member Udaibir Das explores the Indian film Governor to depict the importance of governmental leadership within a country’s economy. According to him, it is often individuals in government that are able to offer the most credibility […]

In a recent OMFIF article, BWC Advisory Council Member Mark Sobel discusses the current reality and future implications of a multipolar international currency system. According to him, the US dollar has been the world’s safest asset for many years. However, he points out that its share of reserves has decreased by 70% over the past […]

Today we welcome new member Qahir Dhanani to BWC! Qahir Dhanani is a Managing Director and Partner at Boston Consulting Group, leading BCG’s engagements with multilateral organizations and international financial institutions. His work focuses on advising senior leaders on issues aimed at expanding finance for climate and development, accelerating the elimination of extreme poverty, advancing […]

In a new episode of the Institute of International Finance’s Current Account podcast with Clay Lowrey, BWC Member Alexis Crow discusses what impact the new leadership of Fed Chair Kevin Warsh will have on US monetary policy and global markets. Alexis shares that the Fed isn’t just a central bank for the U.S.; it is […]

In a recent article from the Council on Foreign Relations, BWC Member Heidi Crebo-Rediker discusses the potential outcomes of the upcoming G7 Summit. According to her, the role of French President Macron is expected to be more about managing the Summit itself rather than advocating for France’s personal ambition. She shares that President Macron believes […]

Today we welcome new member Toby Norfolk-Thompson to BWC! Toby Norfolk-Thompson is Co-founder and Chief Commercial Officer of Sentora. He previously served as CIO for Matrixport. He also has over 20 years in senior trading roles at Coinbase and Barclays. He has been heavily involved in decentralized finance since 2016 and has set up a […]

In a recent article posted by Nikkei Asia, BWC Member Jason Hsu joins economist Patrick Wilson to discuss the degree of influence and recognition Taiwan has in the U.S. Taiwan has become America’s fourth-largest trading partner and successfully cultivated diplomatic relationships with the most economically influential countries across the West. However, President Trump claims Taiwan […]

As we inch closer to the upcoming Group of 7 Summit, BWC Vice Chair Rebecca Patterson joins BWC Member Heidi Crebo-Rediker and the Council on Foreign Relations for a discussion on the potential outcomes of this highly anticipated event. Their conversation covers the importance of the Summit’s discussions on global imbalances, as global imbalances have […]

Today we welcome new member Lewis Rinaudo Cohen to BWC! Lewis Rinaudo Cohen is the Co-Chair of CahillNXT, Cahill’s globally recognized Digital Assets and Emerging Technology practice. He helps clients successfully navigate their most challenging transactions and regulatory compliance matters involving bleeding edge uses of blockchain technology, crypto assets, and tokenization across all aspects of […]

In a recent session hosted by the London School of Economics, BWC Member Lutfey Siddiqi discusses how the geopolitical world has changed. Drawing on his own experiences as a leader in global finance and economic diplomacy, Lutfey studies the influence of political drivers in leaders’ decision-making. He explains that responding effectively to global economic scenarios […]

In a new article published by the New York Times, BWC Member Christopher Smart discusses the implications of the blockage of the Strait of Hormuz. It will be long before the Strait of Hormuz allows prewar energy flows. Even after the mines are cleared, it will be difficult to trust the safety of the Strait […]

Today we welcome new member John Arthur to BWC! John Arthur is the Chairman of Optus and a Director of NCS Pte. Ltd. and Singtel Optus Pty Limited. A lawyer by training, he has served as advisor, executive, and director across a broad range of industries. His career includes roles as partner at Freehills, Group […]

With the G7 Evian Summit about to take place in France, BWC Advisory Council Member Mark Sobel discusses the crucial implications of this year’s meeting. President Emmanuel Macron, this year’s G7 chair, proposes a focus on global imbalance, primarily addressing large account deficits in the US, as well as Chinese and European surpluses. He emphasizes […]

In a new article posted by the Global Partnership for Effective Development Co-operation, BWC Member Nicole Goldin shares the importance of increasing effective development. Effectiveness of existing approaches is becoming central to how financing for development will be evaluated in the future. Goldin argues that monitoring data to initiate open discussion and creating space for […]

Today we welcome new member Mary Ann Callahan to BWC! Mary Ann Callahan is a Senior Consultant at Patomak Global Partners with decades of expertise in securities clearing and financial market infrastructures across federal and self-regulatory roles. Most recently, she served as Senior Policy Advisor and Blockchain Fellow in the SEC’s Office of Clearance and […]

In a new article posted by the Council on Foreign Relations, BWC Vice Chair Rebecca Patterson discusses the impact of increased global and domestic spending. Global defense spending has increased significantly over the past eleven years, causing global spending to surpass 2.5% of gross domestic product in 2025. However, many leaders have not shown interest […]

In a new interview hosted by Bloomberg’s Balance of Power, BWC Member Christopher Smart discusses the economic risks from the war in the Middle East. According to Smart, the US market is experiencing higher earnings and investment domestically. Smart predicts this will make Kevin Warsh’s first few months in office easier, with the pressure off of him to bring about a Fed rate […]

Today we welcome new member Solomon Tadesse to BWC! Solomon Tadesse is Managing Director and Head of Quantitative Equities Strategies North America at Societe Generale Corporate and Investment Banking. He also serves as managing Principal at Armatus Global Capital Management, and he is a fellow at the Wharton Financial Center at the University of Pennsylvania. […]

BWC Member Samim Ghamami recently moderated a panel at the Stanford Institute for Economic Policy Research’s Spring Policy Forum, “From Digital Assets to AI,” which examined the opportunities and risks posed by emerging technologies across the global financial system. Ghamami’s panel explored the promise and pitfalls of AI’s evolving role in finance, from algorithmic trading […]

In a new Atlantic Council piece, BWC Member Hung Tran writes that the G20’s new illustrative template for sovereign debt restructuring improves procedural clarity but at the cost of flexibility. Tran cautions that the template’s rigid, sequential process; its requirement that debtor countries unilaterally offer private creditors take-it-or-leave-it terms; and a punitive claw-back clause could […]

Today we welcome new member Sarah Reppchen to BWC! Sarah is a Partner in Financial Services of Strategy, Risk, and Transactions at Deloitte Canada. She has over 15 years of experience in the financial services industry, specialized in auditing and advising financial institutions, their Risk Management Function with regards to compliance, risk and regulatory reporting […]

In a new article posted by Anadolu Agency, BWC Member Christopher Smart analyzes the appointment of Kevin Warsh as Chair of the Board of Governors of the Federal Reserve System. He explains how Warsh believes productivity improvements and deregulation are key to growing the US economy without fueling price pressures, and he also advocates for reducing […]

In a new interview on CNBC, Advisory Council Member Greg Johnson explains that the current development of cryptocurrency legislation in the U.S. will fundamentally change the future of technology in economics. He explains how the Clarity Act is necessary to establish the rules of crypto assets and tokenization, setting the rules for how U.S. regulatory institutions treat digital assets in crypto. The […]

Today we welcome new member Maurice Obstfeld to BWC! Maurice Obstfeld is the C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics and the Class of 1958 Professor of Economics Emeritus at UC Berkeley. Previously, he was a Member of President Obama’s Council of Economic Advisers, chief economist at the International Monetary […]

How should we characterize the bilateral economic relations between the United States and China following the meeting between Trump and Xi? In an interview on CNBC, BWC Member Jason Furman helps us make sense of the current situation between the world’s two largest economies by analyzing the evolution of their relationship. From the tariffs imposed […]

In a new episode of the Finanz Podcast, BWC Member Shamaila Khan shares her perspective on the current economic situation alongside equity specialists, fund managers, and macroeconomists. The podcast highlights the key role of emerging markets in this economic landscape. Shamaila Khan explains how emerging markets play a vital role in portfolio diversification and which […]

Today we welcome new member Yiming Ma to BWC! Yiming Ma is an Associate Professor in the Finance Division at Columbia Business School, where her research on financial intermediation has been cited by the IMF, SEC, Federal Reserve, and Financial Stability Board. She is a Faculty Research Fellow at the National Bureau of Economic Research […]

In a recent article published by OMFIF, BWC Member Mark Sobel examines the sharp rise in bond yields over recent weeks, arguing that the shift is more profound than typical market volatility. Sobel makes the case that higher yields and term premia may be here to stay, pointing to inflation, central bank behavior, fiscal policy, […]

Global defense spending rose by 2.9% over the past year. This rearmament is accompanied by economic and geopolitical shifts. In a new episode of The Spillover, co-hosted with Sebastian Mallaby, BWC Vice Chair Rebecca Patterson, highlights the implications of this arms race, specifically in the case of Japan. The country is entering a new phase under […]

Today we welcome new member Wesley Brown de Colstoun to BWC! Wesley Brown de Colstoun is a senior leader at the intersection of consulting, financial services, and technology, with 25 years managing business development, transformation, and strategic partnerships for major international clients. Recently resettled in Washington, DC from France, he has driven digital innovation projects […]

Credit spreads are not merely measures of expected default risk. They are also real-time indicators of market liquidity, which is often a function of refinancing conditions, bank funding pressure, and the capacity of the financial system to transmit credit to the real economy. When credit spreads widen sharply, borrowing costs rise, refinancing becomes more difficult, market liquidity deteriorates, and […]

BWC Organizational Member Ant International is a leading global digital payment, digitization, and financial technology provider. Guided by their 6T Sustainability Framework (Travel, Trade, Thrive, Tech, Talent, and Trust), they keep inclusion at the center of their strategy. Through their Democratising FinAI agenda, they support over 1.6 million SMEs, expand credit access to 30 million […]

Today we welcome new member Christopher Smart to BWC! Christopher Smart is the founder and managing partner of the Arbroath Group, which delivers macroeconomic and geopolitical insights and strategy to firm clients. An accomplished investment leader and former senior government official, he served as Special Assistant to the President at the National Economic Council and […]

During a time of increased use of AI in economics, BWC Member Neha Narula joins Marieke Flament and Nicolas Colin on the Currency of Power podcast for a conversation about programmable money, quantum risk, and political implications of the digital dollar. She predicts that AI will be a key part of the process of capitalizing on programmable money in the next 10 years. However, the question lies in whether stablecoins […]

As yields on 10-year Treasury bonds rose nearly half a percentage point this week to just under 4.7%, BWC Chair Bill Dudley explains the reasons behind the increase in a recent Bloomberg article. Dudley attributes the rise primarily to the business cycle: economic growth has come in stronger than expected, leading markets to revise upward […]

Today we welcome new member Markus Veith to BWC! Markus is a Partner at Grant Thornton LLP. He is the National Industry Leader of Digital Assets, Blockchain & web3. He also leads the Northeast Financial Institutions Practice and has over 25 years of experience in banking and public accounting, and holds an M.B.A., a Dipl. […]

As Kevin Warsh was sworn in as Fed Chair, BWC Member Kathryn Judge discusses the central role of the 12 regional Federal Reserve Banks in an article published in The Wall Street Journal co-authored with Mickey D. Levy. They argue that the new chairman should appreciate the benefits of the central bank’s federalist structure. From […]

With the war in the Middle East still ongoing, BWC Member Samim Ghamami analyzes the current financial system in an interview with Mark Zandi and Cristian deRitis on the Moody’s Inside Economics podcast. According to him, the main challenge today lies in the imbalances between supply and demand in the Treasury market, driven by the evolution of […]

Today we welcome new member Christian Callender-Easby to BWC! Christian Callender-Easby is an experienced commodities entrepreneur and executive. His 15-year career has spanned from institutional finance (private equity at KKR following investment banking at Goldman Sachs and UBS) to executive leadership roles at large public chemical companies (OCI Global and Chemours) prior to starting an […]

“Markets are right to be concerned about the rate of inflation related to the energy price shock.” In an interview with Yvonne Man and Avril Hong on Bloomberg’s The China Show, BWC Member Alexis Crow shares her analysis of current global financial outlook. She emphasizes that AI is the only driver truly stimulating US GDP […]

The international payments landscape is expected to become more diverse and fragmented due to the recent growth in the use of local currencies for cross-border payments. In a recent article published from the Atlantic Council, BWC Member Hung Tran explains what has facilitated the implementation of these payments and what this means for the US […]

Today we welcome new member Mohsen AlKazemi to BWC! Mohsen AlKazemi is a corporate finance professional whose experience spans investment banking, capital markets, and policy. Committed to economic development, multilateral cooperation, and innovation, he represents a new generation driving the GCC’s transformation. Bridging regional insight with a global outlook, he connects markets and mobilizes capital […]

China’s current account surplus is reported at reach 3.7% of GDP in 2025, placing significant pressure on the global economy and fueling a rise in protectionism. Following President Trump’s visit to China, BWC Member Mark Sobel discusses the scale of this surplus and the United States’ position on the matter. He asserts that the significant […]

What will the new architecture of development financing look like? At the Devex Impact House: The Capital Summit, BWC Member Qahir Dhanani outlined the various changes underway in this sector. He highlighted the growing trend toward mobilizing private capital, which marks a shift away from traditional official development assistance (ODA). With this in mind, he […]

Today we welcome new member Annette Nazareth to BWC! Annette L. Nazareth is Chair of the Integrity Council for the Voluntary Carbon Market (ICVCM), an independent governance body that evolved from the Taskforce on Scaling Voluntary Carbon Markets. She brings decades of experience in financial services regulation and corporate governance, currently serving as Senior Counsel […]

In a new blog post for the UNU Centre for Policy Research, BWC Member Nicole Goldin and Daniel Cash provide insight into how the recent revision to the Fitch Ratings, one of the three major credit rating agencies, will influence the reality of sovereign debt in crisis-struck economies. The Fitch Ratings recently revised its Sovereign […]

BWC Vice Chair Rebecca Patterson joins co-host Sebastian Mallaby on a new episode of The Spillover to analyze the evolving state of U.S.-China relations. With the Trump-Xi summit unfolding in a markedly different atmosphere than the tariff anxieties of last year, the episode covers key flashpoints including the AI competition and the Taiwan question. To […]

Today we welcome new member Jooyeon Kang to BWC! Jooyeon Kang is an associate at the Financial Supervisory Service. She is a financial regulator from Korea, and she is currently an MPP candidate at Harvard Kennedy School. She specializes in risk-based supervision, consumer protection, and regulatory policy for the banking and insurance sectors. Her work […]

Stablecoins have surged to a $317 billion market capitalization following the passage of the GENIUS Act in July 2025. In a new policy brief published by the Policy Center for the New South, BWC Member Hung Tran examines the potential effects of this rapidly evolving payment method. While stablecoins promise to improve financial transactions through […]

Ahead of President Trump’s visit to China, Heidi Crebo-Rediker discusses potential outcomes of his meeting with President Xi Jinping in a new piece for the Council on Foreign Relations. She highlights China’s dominance in critical minerals, which gives it a certain degree of confidence as the summit approaches. She emphasizes that Beijing’s goal will not […]

Today we welcome new member Onorina Buneanu to BWC! Onorina Buneanu is a first-year Master in Public Administration candidate at the Harvard Kennedy School, where she focuses on industrial and innovation policy in Europe. She began her career in investment banking at Bank of America, before transitioning to emerging markets investing at the European Investment […]

While the IMF’s surveillance role is rooted in its founding documents, structural problems continue to limit its impact. In a recent article for the Atlantic Council, BWC Member Martin Mühleisen analyzes the IMF’s 2026 Comprehensive Surveillance Review, which aims to address these obstacles ahead of the Annual Meetings in Bangkok. Mühleisen identifies three key objectives: […]

Even amid turbulent geopolitical times, optimism continues to prevail in financial markets. In a new episode of JP Morgan’s Making Sense podcast, co-hosted with Derek Chollet, BWC Member Joyce Chang explores what is driving this disconnect. Addressing topics from rising tariffs to the energy shock, Chang highlights that what we’re seeing is a reorientation of trade, not […]

Today we welcome new member Rania Papageorgiou to BWC! Rania Papageorgiou is an economist within Citadel’s Fixed Income and Macro business, where her work powers US growth and inflation forecasting models used across multiple investment teams. Her research focuses on near- and medium-term inflation dynamics in developed economies, as well as commodity-driven small open economies […]

How can we bridge the gap between economics and politics? In a new article published in the IMF’s F&D Magazine, BWC Member Alan Blinder highlights the different rationales that drive economists and politicians, making three recommendations to reduce the gap between them. While politicians should adopt a longer-term perspective, economists should shorten their time horizon […]

“The world is looking more and more like a casino. Today, you can legally bet on just about anything.” In a new episode of The Spillover co-hosted with Sebastian Mallaby, BWC Vice Chair Rebecca Patterson explores the prediction markets industry. Over the past two years, its growth has been phenomenal, turning it into a multi-billion-dollar […]

Today we welcome new member Jonathan Murno to BWC! Jonathan R. Murno is a Managing Director at the EMTA. His responsibilities include membership, the collection and publishing of EMTA’s quarterly and annual volume surveys of emerging markets debt and CDS trading, and planning EMTA’s meetings across North America, Europe, the Middle East, Asia, and South […]

BWC Advisory Council Member Mark Sobel recently wrote for OMFIF examining the buzz around a possible currency swap between the U.S. and the UAE, and why it’s likely more of a political decision than a financial one. Sobel argues that while the UAE might technically qualify for various swap arrangements, it neither needs nor is […]

BWC Chair William C. Dudley recently chaired a new report from the Group of Thirty examining the Federal Reserve’s monetary policy framework in the context of the Fed’s ongoing 2025 review. The report’s central argument is that central bank independence — a cornerstone of long-term economic stability and lower inflation — must be actively maintained […]

Today we welcome new member Maggie Sklar to BWC! Maggie Sklar is Senior Director of Public Policy and Advocacy at the U.S. Chamber of Commerce. She brings over two decades of legal and policy experience, including as a Partner in the Banking and Financial Services practice at Davis Wright Tremaine LLP, Senior Policy Specialist in […]

In a lunch keynote at the Seventh Annual Volatility and Risk Institute Conference, BWC Chair Bill Dudley discusses how artificial intelligence will transform the financial sector. He notes that risks of accuracy, privacy, and model convergence will need to be addressed. According to him, AI will both create and replace jobs. These changes will take […]

In a recent interview with KLP, BWC Member Charles Myers shares his analysis of the macroeconomic environment in light of the current geopolitical context. He also expresses great optimism about the future of the United States. In his view, the strength of the United States lies in the private sector, which has always been highly […]

Today we welcome new member Brian Callanan to BWC! Brian Callanan joined TD Bank US as Executive Vice President and General Counsel in December 2025. Prior to TD, Brian was a partner and general counsel of Liberty Strategic Capital. Previously, Brian served as General Counsel of the U.S. Department of the Treasury, leading a team […]

In a recent episode of Unearthed, BWC Vice Chair Rebecca Patterson highlights the key macroeconomic factors that have emerged since the beginning of the year. She also emphasized the importance of scenario analysis when investing in a risky geopolitical environment and identified three recent trends: geopolitical alignment in trade, the key role of foreign direct investment, […]

BWC Advisory Council Member Gregory C. Johnson, CFP recently submitted formal comments to the Office of the Comptroller of the Currency in response to the agency’s request for input on stablecoin regulation under the GENIUS Act. Drawing on decades of senior leadership in payments and wealth management, Johnson raises pointed concerns about the blockchain industry’s […]

Today we welcome new member Max Le Merle to BWC! Max Le Merle is an Investment Director at Better Society Capital, the UK’s leading social impact investor. Before joining Better Society Capital, Max was a technical staff member at the International Sustainability Standards Board (ISSB) where he was a contributing author to the inaugural global sustainability standards IFRS S1 and S2, […]

In a new commentary for OMFIF, BWC Member Udaibir Das argues that the UAE’s exit from OPEC is less about oil politics and more about a fundamental shift in how states value their own policy independence. Drawing on examples from the WTO’s paralysis to the rise of state-directed sovereign wealth funds, Das makes the case […]

BWC Member Gary Kleiman recently analyzed the sovereign debt restructuring developments at the IMF-World Bank Spring Meetings, where a flurry of new initiatives took center stage amid a notably calmer backdrop than in recent years. Kleiman highlights the uneven progress of high-profile default cases — including Ethiopia’s still-unresolved $1 billion debt dispute — as well […]

Today we welcome new member Alexander Chesney to BWC! Lieutenant Colonel Alexander Chesney is an F-15E Weapon Systems Officer with over 1,000 flight hours. He currently serves as an Assistant Professor of Economics and Director of Research for the Office of Labor and Economic Analysis (OLEA) at the United States Air Force Academy. Lieutenant Colonel […]

“The only way to fight bad guys with technology is for good guys to use technology.” In an interview with CWX Outlook Magazine, BWC Member Alma Angotti shares her experience in regulation and oversight in the financial and economic sectors. As artificial intelligence transforms the way criminals move money, she explains how compliance leaders should […]

In a recent Bloomberg article, BWC Chair Bill Dudley explains why Kevin Warsh, the prospective chair of the US Federal Reserve should be careful about lowering short-term interest rates. Warsh’s recent reasoning for doing so has been met with skepticism, and Dudley highlights four main flaws and emphasizes that his approach reinforces market concerns about […]

Today we welcome new member Olive Hsiao to BWC! Olive Hsiao is a financial advisor, working as a Vice President at Iconiq Capital, LLC. A veteran to the investment community, Olive previously held roles at Blackstone investing in hedge funds and started her finance career in investment banking at Goldman Sachs. She is passionate about […]

In a recent appearance on Bloomberg, BWC Vice Chair Rebecca Patterson warns investors of serious geopolitical risks even as markets reach record highs. With potential oil supply disruptions and a fragile AI outlook in the background, she warns that today’s gains could quickly reverse if tensions escalate or growth expectations weaken. To watch more at […]

In a new piece for OMFIF, BWC Member Mark Sobel analyzes recent approaches to address widespread debt distress in low- and middle-income countries. While reform at the country level is essential, the IMF plays a central role in shaping outcomes and has often leaned toward treating distress as temporary liquidity issues rather than solvency problems. […]

Today we welcome new member June Lau to BWC! June Lau serves as APAC Head of Policy and Regulatory Affairs at Elliptic. She previously served as Head of APAC Compliance at State Street, where she built a strong culture of compliance, risk management, and regulatory alignment, and acted as Principal Compliance and AML Officer while […]

How can the Treasury Department’s anti-money laundering oversight body be made more effective? In a recent article co-written with Brent Wible, BWC Member Himamauli Das outlines three measures that could help the Financial Crimes Enforcement Network have a broader impact on anti-money laundering compliance. Establishing clear standards, deferring special measures, and promoting voluntary engagement would […]

In a new OMFIF commentary, BWC Member Udaibir Das, analyzes the International Monetary Fund’s flagship reports for April. He argues that policy areas can no longer be viewed in isolation. Fiscal space, financial space, and institutional credibility are now interdependent constraints, and the “sovereignty premium,” the price at which these constraints balance out, is on […]

Today we welcome new member Heiwai Tang to BWC! Professor Heiwai Tang is the Victor and William Fung Professor in Economics at the University of Hong Kong, where he also serves as Director of the Asia Global Institute and Associate Vice President (Global). Previously a tenured Associate Professor at Johns Hopkins SAIS, his work focuses […]

In a recent Deep Dive event hosted by The Foreign Correspondents’ Club of Japan, BWC Member Paul Sheard shares his views of the current geopolitical and economic situation. He places the energy crisis in a historical context, noting that what we are experiencing today is not as severe as the 1970s. He ultimately offers reassurance […]

With a moderate tax system and a light regulatory ecosystem, the Gulf region has become the “capital of capital” by diversifying its economy beyond oil production. In a new episode of The Spillover podcast co-hosted with Sebastian Mallaby, BWC Vice Chair Rebecca Patterson examines how the Gulf region has become a new center of economic […]

Today we welcome new member Sam Boocker to BWC! Sam Boocker is an economist in Citadel’s Fixed Income & Macro business, covering U.S. economic policy, politics, and foreign affairs. Prior to Citadel, he served as a senior advisor at the U.S. Treasury Department and worked as an analyst at the Brookings Institution. He holds multiple […]

In a new episode of The Spillover, BWC Vice Chair Rebecca Patterson and BWC Chair Bill Dudley discuss the impacts of the current energy crisis, AI, and the future of international financial institutions. Bill Dudley asserts that the biggest impulse of AI will be an increase in investment spending, which will drive up interest rates. […]

In an article published by Bloomberg, BWC Chair Bill Dudley advises Kevin Warsh, the US president’s recent nominee for Federal Reserve Chair, to draw inspiration from the European model to improve the Fed’s communication. He believes that quarterly economic forecasts with alternative scenarios would help markets better understand the Fed’s reaction function. Thanks to more […]

Today we welcome new member Abhesh Kumar to BWC! Abhesh Kumar is Chief Technology Officer of Springline Advisory, a private equity-backed advisory platform, where he leads enterprise technology strategy, AI integration, and operating model transformation across a multi-entity structure. He focuses on aligning technology modernization with value creation, integrating platforms across acquisitions, and embedding scalable […]

Following the 2026 spring meetings, BWC Member Alexis Crow, provides an update on investor strategies and market trends amid a global climate of uncertainty. In an interview with the Bloomberg podcast, she explains that the US debasement and diversification trade is not over. Investors are not turning away from the United States entirely, but they are […]

Eighty years ago, in March 1946, the inaugural meeting of the Board of Governors of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) took place in Savannah, Georgia. Delegates from 38 countries that were members of the Fund, plus several observers, attended the meeting. The March 1946 inaugural meeting marked […]

Today we welcome new member Gurunath Dasari to BWC! As Senior Vice President of Research at ROW Asset Management, Gurunath focuses on quantitative research in global macro, designing and evaluating systematic investment strategies and supporting portfolio and risk analytics. He also helps build scalable data pipelines and trading infrastructure that support a multi‑billion‑dollar portfolio. He […]

Reflections on the BWC’s Spring Meeting Discussions Constructive incrementalism was the practical phrase at the Spring Summit of the Bretton Woods Committee. That is understandable. We are at a time of intense uncertainty and muddling through sounds like good sense. Yes, it sounds logical at this time of what Prime Minister Carney called “rupture” that highly pragmatic coalitions be […]

BWC Member Qahir Dhanani joins a discussion with Devex on how development finance can be more effectively mobilized across both public and private sectors. The dialogue highlights the widening gap in development assistance and the evolving roles of multilateral development banks and private capital. It also explores strategies to better coordinate investment efforts across governments, […]

Today we welcome new member Alexandra de Hoop Scheffer to BWC! Dr. Alexandra de Hoop Scheffer is President of the German Marshall Fund of the United States. With over 20 years of experience in international relations, policy research, and public engagement, she is a leading authority on geopolitics, transatlantic relations, and global security. Her expertise […]

In a recent interview with the Atlantic Council, BWC Member Martin Mühleisen discusses challenges facing Germany’s economic model in conversation with Jochen Andritzky, a German economic executive. He notes that reform debates are often pushed to the back burner by short-term politics and vested interests, even as structural barriers become more apparent. He emphasizes the […]

BWC Advisory Council Member Joyce Chang joined Bloomberg Surveillance to discuss rising geopolitical tensions and their impact on global markets. She points out a sense of cognitive dissonance: high geopolitical risk coexisting alongside bullish market sentiment. She notes, “The speed and magnitude of the relief rally since the ceasefire suggest that risk appetite remains strong […]

Today we welcome new member James Welch to BWC! James Stewart Welch Jr. is an Associate Teaching Professor of Management in the Sykes College of Business at the University of Tampa and a retired U.S. Army Colonel. A published scholar and frequent speaker at international academic conferences, he is recognized for research in strategy, governance, […]

BWC Member Gary Kleiman highlights a turbulent backdrop for emerging markets during the IMF–World Bank Spring Meetings, where strong EM equity performance contrasted with rising global risks—from energy shocks tied to tensions around the Strait of Hormuz to downgraded growth outlooks. To continue reading at Kleiman International, click here. All views expressed by members are […]

BWC Member David Lubin joined the Chatham House Independent Thinking podcast during the IMF-World Bank Spring Meetings to assess a week marked by heightened geopolitical and economic tensions. In conversation with Bronwen Maddox and Laurel Rapp, Lubin explored the global implications of developments ranging from tensions in the Strait of Hormuz and nuclear negotiations with […]

Today we welcome new member Alexandra Dimitrijevic to BWC! Alexandra is a seasoned S&P Global executive with 30+ years in finance and deep credit market expertise. She leads Research & Development at S&P Global Ratings & co-chairs the Look Forward Council, focusing on long-term trends & risk assessment. She also drives innovation, notably in sustainable […]

With 26% of global GDP and 59 of the world’s 100 largest companies based within its borders, the United States is the world’s most competitive economy. In a co-authored publication with the McKinsey Global Institute, BWC Member Olivia White reveals the lessons learned from the historic reinvention of the United States, 250 years after its […]

In response to growing income and wealth inequality, many governments are implementing annual wealth taxes. New research published in the Journal of Economic Policy Reform by BWC Member Jonathan R. Everhart challenges the effectiveness of these measures. The article reframes the discussion toward scalable solutions: strengthening domestic revenue mobilization and unlocking investment flows into developing […]

In a new article with Bloomberg, BWC Chair Bill Dudley warns of a potential energy supply shock stemming from U.S. conflict with Iran. He argues that rising energy prices could slow economic growth by reducing consumer spending while also driving inflation across the economy. Heading into IMF/World Bank Spring Meetings, many are wondering how policymakers […]

The world is grappling with an unprecedented number of crises. Often interconnected, they are growing more frequent and severe, yet how we manage risk and finance efforts to build resilience has not kept pace. The lingering effects of the COVID-19 pandemic, compounded by conflicts, geopolitical volatility, and persistent natural disasters, are conspiring to slow global growth and add to pressure on already fragile economies. The result is visible: […]

Today we welcome new member Jason Hsu to BWC! Jason Hsu is a senior fellow at the Hudson Institute, focusing on U.S. technological cooperation with allies and partners. From 2016 to 2020, he served as legislator-at-large in Taiwan’s Legislative Yuan, where he worked on defense, technology, trade, and foreign policy. He was previously an Edward […]

In a new piece for OMFIF, BWC Advisory Council Member Mark Sobel reflects on the heightened uncertainty surrounding next week’s IMF and World Bank Spring Meetings. Amid a fragile ceasefire in the Middle East and ongoing disruptions in the Strait of Hormuz, he argues that these institutions remain as vital as ever. As they confront mounting shocks and […]

With a 72% increase in transaction volume in 2025, integrating stablecoins into economic strategies is becoming a priority. While the United Kingdom has been more cautious than other economies in responding to this new development, Circle’s Dante Disparte believes it can capitalize on this second-mover advantage in stablecoin regulation. According to him, “the UK has an […]

Today we welcome new member Ron Korland to BWC! Ron Korland is a technology executive and software engineer currently serving as CTO at Tuvis (formerly Whatslly). He brings deep expertise in software architecture, automation, and quality assurance, with a track record of building scalable systems and leading high-performing engineering teams. Known for his strong problem-solving […]

 Congratulations to BWC Advisory Council Member Joaquim Levy on his appointment as a commissioner of the Future of Development Cooperation Coalition! Bringing together a diverse group of global leaders, the Coalition aims to rethink development cooperation. Next week, the commissioners will meet to formulate recommendations addressing the following question: How should we rethink development cooperation […]

BWC Member Fabio Natalucci joins FHN Financial for a discussion on the growing role of private credit within the broader financial system. As private credit grows in the US economy, investors are increasingly focused on the potential risks and implications for overall economic growth. In the conversation, Natalucci explores broader perspectives on macroeconomic outlook and […]

Today we welcome new member Tobin Van Ostern to BWC! Tobin Van Ostern is a policy strategist with more than a decade of experience advancing youth engagement, technology, and public policy. A former web developer, he helped pioneer digital tools to mobilize young voters as National Director of the Student Engagement Program for President Obama’s […]

China’s 15th Five-Year Plan positions finance as a strategic tool for technology, including AI, biotech, clean energy, and more. BWC Member Udaibir Das explains how the plan seeks to evolve from a bank-centric system into one capable of pricing technological risk while building infrastructure, digital currency, and markets. Can China make this financial shift quickly […]

In a recent publication in collaboration with Andrew McCarthy, BWC Member Alma Angotti addresses the issue of anti-money laundering. With the rise of new technologies and artificial intelligence, the risks faced by businesses are becoming increasingly complex. Anti-money laundering is entering a new era in which financial institutions must rethink their approach as regulations and […]

Today we welcome new member Aleksandar Colić to BWC! Aleksandar Colić, CEO and owner of Grifon Media, inventor, transformed a small startup into a leading Serbian media company, serving diverse industries. As marketing expert, he advances Serbia’s creative sector as Deputy President of the Creative Industry Association and the Group of Agencies for Market Communication […]

Despite the existence of pockets of stress that are prompting investors to exercise greater caution regarding private credit, BWC Member Sarah Hirsh, asserts that these developments are not systemic. Instead, she believes that we could be in the final stages of a credit cycle. In a new publication with Lauren Goodwin, Julia Hermann, and Michael […]

BWC Member Paul Andrews develops the idea of the advocacy triangle for the credit union movement in a recent article published in CUInsight. He describes advocacy as a triangle because it operates at three levels: local, national and global. He highlights the key role played by WOCCU, the World Council of Credit Unions, which ensures […]

Today we welcome new member Aron Rimanyi to BWC! At Training The Street, Aron Rimanyi leads financial, valuation, and accounting training for investment banks, private equity, and consulting firms. He previously worked as a private equity associate at Falfurrias Capital Partners and as a consultant at McKinsey in Central Europe. Aron graduated from Duke University […]

Who will be the next UN Secretary-General, and what will be expected of them? As the selection process unfolds, BWC Member Qahir Dhanani, alongside co-author Jim Larson, outlines the key priorities facing the role in a new piece for Devex. Against the backdrop of rising global tensions, they share that the next Secretary-General must restore […]

Sitting down in an interview with CEBRI, BWC Member David Lubin discusses China’s economy, geopolitics, and international relations. He highlights China’s strength as a manufacturing powerhouse and its growing investment in technology, while also raising concerns about its reliability in global trade. Lubin explains that China’s economic policies are closely tied to its broader geopolitical […]

Today we welcome new member Jacob Choe to BWC! Jacob Choe is an international affairs and business leader with experience spanning government, diplomacy, and the private sector. He serves as Director of Asia and Africa Programs and a Board Member at the Eurasia Center, where he leads initiatives connecting governments, NGOs, and industry to advance […]

A new article by BWC Board Member José Viñals suggests that the global trading system is no longer it for purpose amid rising geopolitical tensions, protectionism, and fragmentation. He highlights the complexity of today’s realities for developing economies, including barriers to participation and unequal outcomes. Ultimately, he suggests a “reset” focused on making trade more […]

A recent report from McKinsey Global Institute discusses shifts in global trade amid geopolitical tensions, technological advances, and an evolving policy landscapes. Driven by AI investment, MGI notes that trade grew steadily throughout 2025, despite widespread skepticism. Throughout 2025, major economies increasingly traded with partners aligned with their geopolitical interests. The record showcases the importance […]

Today we welcome new member Dana Molina to BWC! Dana Molina is Executive Director at the Griswold Center for Economic Policy Studies at Princeton University, where she has worked since 2018. She previously spent a decade overseeing account management and finance at SureTech, a cloud computing firm she co-founded. Earlier roles include leadership positions at […]

Despite developments in AI, tariffs, and geopolitical conflict, the US economy remains largely unchanged. BWC Member Jason Furman notes that the economy is like an “ocean liner” and moves slowly, making it less influenced by short-term events or political shifts. While headlines may suggest a fluctuating economy, key indicators like growth, inflation, and employment show […]

In a recent Bloomberg interview, BWC Member Douglas Rediker discussed the ongoing US involvement in the Middle East, noting that the situation has no clear resolution and could extend beyond initial expectations. He accentuated that differing priorities among regional and international stakeholders may complicate efforts to reach a stable outcome. Rediker also highlighted broader implications, […]

Today we welcome new member Laurie Schaffer to BWC! Laurie Schaffer was the Acting Assistant Secretary for Financial Institutions at the U.S. Treasury Department. She advised on Treasury’s borrowing authorities, debt issuing activities, financial markets oversight, regulation of the government securities market, and issues affecting the financial services industry. Previously, she served as Deputy General […]

In a recent Bloomberg appearance, BWC Member Alexis Crow describes the current conflict involving the United States and Iran as “the largest shock to the global energy system since 1979”, skyrocketing oil prices and unsettling markets. She noted that disruptions around key shipping routes are straining global supply chains, with ripple effects from energy to […]

Congratulations to BWC Advisory Council member Joyce Chang on her achievement of being named to Barron’s 100 Most Influential Women in US Finance! We’re thrilled to have her as part of our community and deeply appreciate all the work she does within BWC leadership. To read more, click here. All views expressed by members are […]

Today we welcome new member David Webster to BWC! David Webster is Senior Vice President of Turnaround and Restructuring Services at AlixPartners, where his experience includes financial restructuring, cash flow and liquidity management, business and scenario planning, and project and stakeholder management for debtor and creditor clients. David has over 10 years of experience in […]

Almost fifty years ago, in 1977, James Buchanan, who later won the Nobel Prize in Economics in 1986, and Richard Wagner published a book titled ‘Democracy in Deficit’—a critical analysis of the political legacy of Lord Keynes. Since the publication, fiscal developments have proven the accuracy of their analysis and the relevance of their warnings. […]

In a recent Financial Times article, BWC Member Roger Ferguson argues that private credit fills a key financing gap for middle-market businesses as bank lending has become more constrained. It supports jobs and economic growth by funding companies that lack access to public debt markets. Despite concerns about systemic risk, the sector is considered relatively stable due to lower leverage […]

In an article for OMFIF, BWC Member Ousmène Mandeng explains how tokenized money market funds convert fund shares into blockchain-based tokens that can be transferred instantly and used for payments or collateral. This could shift institutional liquidity management from redeeming fund shares to circulating them in transactions, reducing redemption pressure. If widely adopted, they may become a major innovation in wholesale […]

Today we welcome new member Caroline Pham to BWC! Caroline D. Pham is Chief Legal Officer and Chief Administrative Officer at MoonPay. She oversees MoonPay’s global legal, compliance, risk, regulatory, policy, governance, and enterprise administrative functions. Caroline brings 25 years of experience in law, finance and technology, including over a decade focused on crypto and […]

BWC Chair William C. Dudley suggests that the US fiscal outlook is deteriorating, with the Congressional Budget Office projecting annual deficits of about 6% of GDP over the next decade, which would push federal debt to record levels. Key drivers include an aging population raising Social Security and Medicare costs, reduced tax revenues from recent […]

BWC Member Heidi Crebo-Rediker recently hosted the Council on Foreign Relations report launch event with a keynote conversation with the Assistant Secretary of Energy, Audrey Robertson. They had an insightful conversation on how the new office plans to address China’s dominance over critical minerals and rare earth elements and explained how “leapfrog” technologies can help de-risk supply chains more quickly, sustainably, and […]

Today we welcome new member Rodney Garratt to BWC! Rodney Garratt is a professor of economics at the University of California, Santa Barbara, a research associate with the CEPR Fintech and Digital Currencies network, and an adviser to Ubyx. He has served as Senior Adviser at the BIS, Vice President at the Federal Reserve Bank […]

BWC Member Mark Sobel reflects on French President Macron G7 and US Treasury Secretary Bessent’s G20 diagnoses on global imbalances, arguing that their assessments are unlikely to succeed where others have failed. He dissects the root of their problems being the US deficit, the Big Beautiful Bill and its misguided tariff policies, and China and Europe’s surpluses. Skepticism continues to deepen, as countries will continue to act independently in […]

In an American Banker article, BWC Member Linda Jeng argues that if the future of digital monetary policy wants to succeed, recognizing that people experience money through use is crucial. Stablecoin regulations such as the GENIUS Act and MiCAR, echo the Chicago Plan idea of “narrow banking” by requiring some digital payment tokens to be fully backed by safe assets. These frameworks do not eliminate traditional bank-created money. Instead, […]

In a new article published in Intertax, BWC Member Jonathan R. Everhart proposes the creation of a regionalism-based political tax forum at the United Nations to support developing economies in international tax policymaking—called the United Nations High-level Political Forum on International Taxation. He is an expert contributor to the policy work of the United Nations […]

Today we welcome new member Sunayna Tuteja to BWC! Sunayna joined the Federal Reserve System in 2021 as its first Chief Innovation Officer. She leads the Fed’s innovation agenda in collaboration with business and technology partners to strengthen innovation culture across the 12 Reserve Banks and the Board of Governors. Sunayna has 10+ years of […]

Refocusing the debt debate, BWC Member Udaibir Das makes the case that Africa’s challenges lie not only in how much countries owe, but in the functionality of their borrowed funds. Debt assessments from the World Bank and IMF focus on whether or not governments can pay back their loans but rarely look at if the […]

BWC Member Alexis Crow recently appeared on Bloomberg to discuss both Japan’s monetary outlook as well as the economic impacts of conflict in Iran. She explained how Japan is attracting strong overseas investment into stocks, FDI, and long-term bonds despite its high government debt. The outlook hinges on debt markets, monetary policy, the yen, and […]

Today we welcome new member Sherman Boone to BWC! Sherman Boone recently retired as Senior Policy Advisor in the SEC’s Division of Economic and Risk Analysis.  He previously served in the US Treasury and State Departments, the White House and the IOSCO General Secretariat.   With over 40 years of experience in public policy, financial regulation and international economic […]

In a recent New York Times article, BWC Member Jason Furman argues that contrary to monopoly fears, AI companies have become fiercely competitive, with systems like OpenAI, Anthropic, and Google Gemini driving rapid innovation and steep cost declines. Easy switching, open models, and intense rivalry are expanding consumer choice, even as profits remain uncertain, and regulation may still be needed to manage […]

BWC Member Heiwai Tang examines how countries are responding to renewed U.S. economic nationalism under Donald Trump and the 2025 Liberation Day tariffs. Updated trade data shows some economies—such as Mexico and Taiwan—deepening U.S. ties, while others—including Canada, Japan, and China—diversifying toward Europe and ASEAN. Overall, global trade is rebalancing rather than breaking apart.  To read more, […]

Today we welcome new member Diana Pilipenko to BWC! Diana Pilipenko is Director of International Affairs at Visa, where she leads the company’s engagement with international financial institutions, notably the World Bank and the International Finance Corporation. Prior to joining Visa, Diana was the Deputy Assistant Secretary for Legislative Affairs (International Affairs) at the U.S. Department […]

BWC Member Robin Brooks argues that Brazil’s Real is once again strengthening, driven by broad US dollar weakness and renewed focus on its deep undervaluation. Unlike the 2022 rally fueled by commodity shocks, the current move reflects structural dollar concerns and Brazil’s shift to sustained trade surpluses. He argues it is “prime time” for the Brazilian Real.   To read more, click here.  All […]

In an article with the Bank for International Settlements, BWC Member Jay Rappaport analyzes how central banks handle emergency liquidity support and the solvency requirements for borrowing institutions. With co-author Rastko Vrbatsky, he explores how solvency is measured, including both balance sheet assessments and forward-looking evaluations of a bank’s financial trajectory. The authors emphasize the […]

Today we welcome new member Juhi Dhawan to BWC! As a member of the firm’s Global Macro Strategy Group, Juhi Dhawan leads Wellington Management’s analysis of the U.S. economy. Her work on growth, inflation, interest rates, and economic policy is a core input to portfolio managers and analysts across the firm. She is an active […]

In an upcoming event with UBS, BWC Member Shamaila Khan will share her insights on emerging markets debt, the approach to US interest rate cuts, and strategies for diversifying market growth away from US assets. During the presentation, Khan will engage with viewers and answer questions related to emerging markets’ debt and related topics.  To […]

In a recent Brookings article, BWC Member Nellie Liang discusses the growing strains on the U.S. Treasury market as government debt and repo activity continue to rise. She explains how recent regulatory changes, primarily expanded central clearing and revised bank leverage requirements, are intended to support market resilience and expand intermediation capacity. Liang concludes that while […]

In a new article with OMFIF, BWC Member Mark Sobel analyzes the U.S. Treasury’s January 2026 Foreign Exchange Report, exhibiting its deeper focus on macroeconomic structures, growth models, and policy choices shaping exchange rates. The report offers detailed coverage of China and other Asian economies, emphasizes transparency initiatives, and revisits currency policy tools.  To read more […]

Today we welcome new member Margarita Musante to BWC! Margarita Musante is an Argentine economist and public policy expert with extensive experience in the Argentine national government. She served as a budget advisor and Coordinator of Budget Program Evaluation at the Chief of Cabinet of Ministers, and as an advisor to the Ministry of Economy […]

A new era in payments is taking shape as MoonPay partners with Deel to enable cross-border payroll payouts to employees using stablecoins. BWC Member Caroline Pham gives further insight into the collaboration, highlighting how it expands the practical use of digital assets in global workforce payments. She also previews major partnerships and initiatives aimed at expanding access […]

BWC Vice Chair Rebecca Patterson is co-hosting the Council on Foreign Relation’s newest podcast, The Spillover. With co-host Sebastian Mallaby, the podcast will explore the ripple effects of global events, exploring the intersection of policy, geopolitics, economics, technology, and finance. Their inaugural episode explores the “Fragile Four” economies: the United States, United Kingdom, Japan, and France, and the growing […]

Today we welcome new member Gursimran Rooprai to BWC! Gursimran Rooprai is a seasoned international development professional with nearly 15 years of public service experience across 70+ emerging markets, developing economies, and EU member states. He has worked with the World Bank Group (IFC), the UN, and most recently served as a Principal at the […]

Capitalizing on the momentum surrounding Super Bowl 60, BWC Member Pilar Frank O’Leary underscores the economic impact of Latin music and creators in the United States. Representing 20% of the US population, the Latino community contributes substantially to the national economy. O’Leary emphasizes how cultural influence not only shapes identity and entertainment but also drives […]

BWC Member Hung Tran examines how fragmented data systems and competing geopolitical perspectives complicate the governance of artificial intelligence. As AI becomes increasingly embedded in decision-making processes, its influence on society continues to expand. Tran analyzes how differing national regulatory approaches may either intensify geopolitical divisions or help manage their broader political implications. To read […]

Today we welcome new member Yisroel Brumer to BWC! Dr. Yisroel Brumer is an entrepreneur with an extensive history of senior executive and government service. He is currently the Co-Founder and CEO of DEFCON AI, bringing advanced algorithms to the US military.He is also a Co-founder and former president of Red Cell Partners, an investment/incubation […]

Amid ongoing discussions surrounding sanctions, BWC Member Robin Brooks is calling on the European Union to take decisive action. Noting that a significant share of Russia’s oil exports pass through the Baltic Sea, Brooks argues that the EU has the capacity to disrupt much of this fleet. He suggests this move would force Russia to […]

BWC Member Nicole Goldin explores the shifting dynamics of global development in a new article for Devex. In a system historically dominated by major world powers, “middle powers” are increasingly stepping into more influential roles. Goldin argues that as traditional power centers face relative decline, the future of global cooperation may ultimately be shaped “by […]

Today we welcome new member Omer Fein to BWC! Omer Fein is the Chief Economic Consul of the State of Israel to the U.S. West Coast. In this role, he leads Israel’s economic and investment engagement across 17 U.S. states, working with governments, multinational corporations, venture capital funds, and institutional investors. Previously, Omer served as […]

BWC Member Joyce Chang joins a panel on CNBC to discuss the current outlook for the US dollar and other major asset classes. The conversation highlights the recent rise in gold and silver prices, as well as recent price swings and cooling momentum in cryptocurrency markets such as Bitcoin. The panel also examines how geopolitical […]

In a new Council on Foreign Relations article, BWC Member Heidi Crebo-Rediker proposes an innovation-centered strategy to reduce US reliance on China’s dominance in critical minerals. Rather than trying to outspend China on mining and processing, she calls for investment in innovation, substitute materials, recycling, and stronger allied coordination. Altogether,  she outlines policy recommendations aimed […]

Today we welcome new member Linda Jeng to BWC! Linda Jeng is the Founder and CEO of Digital Self Labs, a regulatory, policy, and technology advisory firm. She is a Visiting Scholar on Financial Technology and Adjunct Professor of Law at Georgetown University, a Senior Lecturing Fellow at Duke Law School, and a Research Fellow […]

BWC Member David Lubin appears on CNBC-e to examine global trade growth, the declining value of the dollar, and what these trends could mean for the dollar’s position in global markets. He points to the growing politicization of US monetary policy as a potential source of currency volatility, emphasizing the United States’ influence on the […]

President Trump’s nomination for the next Chair of the Federal Reserve has been one of the most anticipated appointments in modern history, particularly given that the President in recent months has crossed a putative red line. That red line is the independence of the Fed, undergirded by an unwritten rule that the president should not […]

Today we welcome new member Steven Kelly to BWC! Steven is a Senior Advisor at the Federal Deposit Insurance Corporation, where he focuses on financial stability and financial crisis management. He also teaches finance at George Mason University. Steven was previously Advisor to the Chairman at Guggenheim Partners, where he advised on systemic risk and market structure.  […]

BWC Member Heidi Crebo-Rediker spoke on the podcast Odd Lots, where she argued that the United States has an opportunity to enter the rare earths market in a way that can compete with China’s dominance in the industrial ecosystem. Rather than trying to outspend or out-process China, she suggests the US should leverage its strength of innovation, recovery, and recycling- an easier and more cost-effective approach to prepare […]

BWC Member Mark Sobel argues that criticizing the Federal Reserve misses the deeper challenges of monetary policy under political pressure and fiscal strain. The article questions whether Kevin Warsh would preserve the Fed’s central bank independence, balance sheet policy, and financial regulation amid White House demands. He argues that today’s complex, high-debt global economy demands independent and pragmatic judgment from a new Fed chair.   […]

Today we welcome new member Peter Johnson to BWC! Peter Johnson is a strategic foresight adviser and former U.S. diplomat focused on AI, blockchain, and digital financial inclusion. As founder of Ayadee, he advises boards and develops senior and next-generation leaders on the digital economy, systemic risk, and opportunity. He is pursuing a PhD in […]

BWC Member Miguel Schloss offers a thoughtful commentary on the urgency of climate change and the practical paths available to address it. He highlights measurable progress through innovative, community-driven solutions, while also noting the challenges that arise when momentum toward effective action slows at the larger level. Schloss discusses how pragmatic, informed leadership can play […]

In a new article for the Atlantic Council, BWC Member Hung Tran analyzes recent events surrounding the US dollar’s role in global markets. Skeptics point out geopolitical tensions as a threat to the dollar’s value, while others claim that the dollar remains steadfast, citing the U.S. as the strongest national economy. Tran breaks down the […]

In a recent article, BWC Member Gary Kleiman outlines the evolution of frontier markets following significant gains in debt and equity performance. Drawing on insights from his book “Emerging Economies and Financial Markets,” he highlights the role of global institutions in shaping the growth of the asset class. Additionally, he highlights success stories of frontier […]

Today we welcome new member Michael DiRoma to BWC! Michael DiRoma is a tax attorney and a senior policy advisor operating at the nexus of Congress, the U.S. Treasury Department, and the White House. He previously served as Deputy Assistant Secretary of the U.S. Treasury for Legislative Affairs (International Affairs) and as Tax Counsel to […]

In a new commentary for OMFIF, BWC Member Ousmène Mandeng argues that tokenization could move markets in a frictionless direction and has the capacity to eliminate the need to hold money over time by allowing interest-bearing assets to be converted. Because the value of money comes from transaction frictions that create a liquidity premium, removing those frictions could shrink money balances even as transaction volumes remain high. Money would primarily persist as a unit of account and settlement mechanism, […]

BWC Member Christopher Smart recently sat down with Bloomberg‘s “The Asia Trade” to talk geopolitical tension and a growing United States economy. He touched on the President’s policy remarks at the World Economic Forum at Davos and how they might affect global trade markets and foreign relations.  To watch his remarks, click here. All views expressed […]

Today we welcome new member Yoshiko Sheard to BWC! Yoshiko is an Honorary Fellow of the Foreign Policy Association and an Honorary Fellow of Monash University. She serves on the board of the ANU Foundation USA and on the board of Social Capital Initiatives, representing the organization as a delegate to the UN Economic and […]

Highlighting market volatility, BWC Member Hung Tran writes about the relevance of leverage to today’s market activity. In detailing this hurdle, he specifies its effect on numerous financial facets such as hedge funds, private credit, and retail traders. He calls out financial executives and private investors to reduce market vulnerability, mitigating “fallout from future market […]

On a recent episode of the Bloomberg Surveillance podcast, BWC member Rebecca Patterson discusses current geopolitical events and how they might affect market trends in the coming years. She states that the market is seeing a “slow erosion of confidence in dollar-based assets.” Additionally, she touches on the current status of United States and global bond market […]

Today we welcome new member Michael Hsu to BWC! Michael J. Hsu served as Acting Comptroller of the Currency until 2025, overseeing the federal banking system as head of the Office of the Comptroller of the Currency. During this time, he also served as a Director of the FDIC, a member of the Financial Stability […]

Throughout the post-WW2 era, the dollar has maintained its status as the main international reserve currency. The dollar’s status has reflected its wide use in the pricing and settlement of foreign trade transactions, the large size and openness of its financial markets, and its dominant role in global foreign exchange transactions. Throughout this period, the United States has been the largest economy in the world, representing today around 25 per cent of global GDP.   Recent developments […]

In commemoration of a remarkable career in public service and global economic leadership, BWC Advisory Council Member Jean-Claude Trichet has been named in the 2026 Legion of Honour class, France’s highest civilian honor. This recognition reflects a lifetime of lasting contributions to international financial stability as Former President of the European Central Bank and Former […]

Today we welcome new member Yeabsira Zewdie to BWC! Yeabsira Zewdie is a development finance executive and CEO of Connect Africa Capital. She specializes in mobilizing institutional investment for Africa’s infrastructure, housing, and capital markets, and has led major blended-finance and capital-markets initiatives across the continent. She brings deep expertise in investment structuring, MDB engagement, […]

In an article with Chatham House, BWC Member David Lubin addressed recent threats to central bank independence and, more specifically, inflation targeting. He highlighted the tendency of the Trump administration to treat the Federal Reserve “as a department of government, rather than an agency that works alongside it.” Furthermore, he noted how the loss of the […]

Bill Dudley, BWC Chair, sat down with Bloomberg to discuss recent Federal Reserve proceedings regarding President Trump, Chair Jerome Powell, interest rates, and what’s in store for the new Federal Reserve Chair. He touched on whether or not the executive branch plays a role in the behavior of the Federal Reserve and how lowering interest rates might […]

Today we welcome new member Victor Ojeah to BWC! Victor Ojeah is a dual-qualified lawyer (U.S. and Nigeria) with expertise in sovereign finance, debt restructuring, and the legal frameworks that shape public financial governance in frontier markets. He currently serves as Legal Counsel at the African Legal Support Facility (ALSF), where he provides transactional and strategic legal advisory […]

BWC Member Martin Mühleisen addresses Venezuela’s massive debt obligations and plans for economic recovery in an article for the Atlantic Council. While recognizing the IMF’s ability to bring order to complicated debt situations, Mühleisen emphasizes a plan that prioritizes Venezuela’s economic needs over other foreign or domestic interests. Despite juggling a variety of multifaceted recovery efforts, […]

BWC member Charles Myers recently spoke on Bloomberg Surveillance, analyzing the United States’ recent foreign policy initiatives and their effects on global economics. He outlined the administration’s use of economic and diplomatic pressure as a means to bring foreign countries to the negotiation table. Myers emphasized the President’s stance on foreign policy stating, “He always prefers […]

Today we welcome new member Natasha Kaneva to BWC! Natasha Kaneva is Head of the Global Commodities Strategy team at JP Morgan, where she sets the firm’s views across energy, base and precious metals, and agricultural commodities. Natasha directs JP Morgan’s quarterly cross-commodities research reports and publishes the Gold Monitor andMetals Weekly publications. Previously, Natasha […]

In a recent analysis, BWC Member Gary Kleiman examines Iran’s deepening economic and financial crises. He traces a relentless cycle of power shortages, currency collapse, banking stress, and fiscal strain, compounded by regional conflicts and pressure from sanctions. With inflation projected at 40% and growth stagnating, Kleiman highlights how delayed structural reforms have exacerbated vulnerabilities […]

BWC Member Christopher Smart shared his 2026 outlook for global trade, highlighting how the focus of trade tensions is shifting from Washington to Beijing. His analysis underscores that while trade conflicts have long been centered on U.S.–China relations, evolving economic interdependencies and policy priorities suggest a broader redistribution of influence that will shape trade dynamics […]

Today we welcome new member Christopher Schroeder to BWC! Christopher M. Schroeder is the co-founder of Next Billion Adventures, a venture capital and advisory firm focusedon rising markets. He is an entrepreneur, advisor, and investor in interactive technologies and social communications and author of the best-selling Startup Rising: The Entrepreneurial Revolution Remaking the Middle East. […]

Udaibir Das shared his 2026 outlook for emerging markets with OMFIF, examining how evolving global dynamics will shape the year ahead. In his analysis, Das argues that emerging markets will need a new playbook to navigate persistent economic headwinds, shifting financial conditions, and structural challenges in the global economy. He emphasizes that reliance on traditional […]

In a recent Forbes article, BWC Chair Bill Dudley examines the growing role of stablecoins and assesses claims that their adoption could reduce the U.S. Treasury’s debt servicing costs. While Dudley acknowledges the potential of stablecoins to open new avenues for commerce and improve the speed and efficiency of payments, he argues that they are […]

Today we welcome new member Makoto Kasai to BWC! Makoto Kasai is General Manager for the Americas of the Bank of Japan, where he assesses the economies and analyzes policy development in the region. He is also in charge of promoting better understanding of Japanese economy and the Bank of Japan’s policies. He was Senior […]

BWC member Mark Sobel shares six predictions for the trajectory of global foreign exchange markets in the year ahead. Compared to 2025, Sobel’s predicts markets are likely to be less volatile than in 2025, reflecting a period of relative stabilization as major economies adjust to shifting monetary policy expectations and evolving global macroeconomic conditions. To […]

BWC Advisory Council Member Janet L. Yellen participated in a panel titled “The Future of the Fed” at the annual meetings of the American Economic Association on January 4, 2026, alongside Loretta Mester, Athanasios Orphanides, David Romer, and Anil Kashyap. Drawing on her extensive experience in public service and economic policy, Yellen addressed central bank […]

Today we welcome new member Ghassan Abou-Alfa to BWC! Ghassan Abou-Alfa, MD, JD, MBA, PhD (hc), is an Attending Physician at Memorial Sloan Kettering Cancer Center, a Professor of Medicine at Weill Cornell Medical College, and an Adjunct Professor at Trinity College Dublin in Ireland. Professor Abou-Alfa has co-led global efforts examining the convergence and […]

Dante Disparte represented Circle, one of BWC’s organizational members, at the Parliamentary Intelligence-Security Forum at the U.S. Senate, where he spoke on the evolving state of crypto, blockchain technology, and digital assets. Drawing on Circle’s experience with open-source blockchain infrastructure and compliant payment systems, Disparte highlighted the importance of expanding opportunity through responsible innovation, noting […]

BWC member Greg Johnson recently spoke at the Parliamentary Intelligence-Security Forum at the U.S. Senate on the current state of crypto, blockchain technology, and digital assets. Reflecting on what he described as “a new age of regulation,” Johnson highlighted the often-underrated role of stability as policymakers and markets navigate this next phase of digital asset […]

Today we welcome new member Leland Kruvant to BWC! Leland Kruvant is President and CEO of Creative Associates International, which delivers high-quality development programming in some of the most exciting and challenging locations around the world. Leland started at Creative in 1992 in program support positions. He then worked for a number of technology companies […]

“Even in times of conflict, global cooperation continues.” BWC member Qahir Dhanani makes the case for rebuilding public trust in broken institutions by embracing small, focused coalitions that can move faster and act bolder in a recent TED Talk. Drawing on his expertise in international collaboration, Dhanani argues that these more agile coalitions offer a […]

BWC member Linda Jeng co-authors a new piece in the Fordham Journal of Corporate & Financial Law examining the competitive implications of non-horizontal mergers involving consumer financial data. The article explores how traditional antitrust frameworks may fall short when assessing mergers between firms that control large and complementary data sets, even when such deals promise […]

Today we welcome new member Joan Larrea to BWC! Joan Larrea is CEO of Convergence Blended Finance, leading since its inception and establishing it as the leading independent authority on blended finance. Prior to joining Convergence, she led the U.S. Overseas Private Investment Corporation’s (OPIC) efforts to partner with philanthropic and private investors to increase […]

As the Federal Reserve prepares to select a new chair, BWC Chair Bill Dudley outlines six major challenges the central bank will face in the year ahead in a new piece for Bloomberg. While markets are focused on whom President Trump will choose and whether that appointment could influence interest rates, Dudley argues the Fed […]

At a recent panel hosted by Brookings Institution, BWC members Dante Disparte, Yiming Ma, and Nellie Liang examined the GENIUS Act following its signing into law. Joined by other panelists Wade Perry and David Portilla, the experts drew on their various backgrounds and experiences to shared insights on what financial companies are planning and how […]

Today we welcome new member Colin Hunt to BWC! Colin Hunt has been CEO of AIB Group and Executive Director on the AIB Group since March 2019. He was recently appointed President of Ibec for 2025-2026. He previously spent time at Macquarie Capital in Ireland, the Departments of Transport and Finance, Goodbody Stockbrokers, the Bank […]

Kings & States recently sat down with BWC Vice Chair Rebecca Patterson for an interview on how power, policy and capital interact today. Patterson dives into why geopolitics is no longer a side risk but a core investment variable and how investors should navigate a more unstable world. As we go into the new year, […]

In a recent Wall Street Journal article, Alexandra de Hoop Scheffer analyzes how the White House’s new National Security Strategy is reshaping the trans-Atlantic relationship. She urges European leaders to plan a credible transition from a U.S.-led security order to one that is European-led. She highlights three priorities for shaping this transition: accelerating European defense […]

Today we welcome new member Adam Wang-Levine to BWC! Adam Wang-Levine is a Senior Fellow at Stanford University. He previously served as a Deputy Assistant Secretary at the U.S. Treasury where he was also co-chair of the G20 Sustainable Finance Working Group. Prior to his work at Treasury, Adam worked in venture capital at Arc […]

BWC member Paul Sheard recently appeared on an episode of Kathleen Hays’ Central Bank Central podcast to reflect on the Bank of Japan’s recent rate increase to a 30-year high, drawing on nearly three decades of experience tracking Japanese monetary policy. Sheard discusses what will determine the pace of future hikes—including inflation expectations, wage growth, […]

BWC members Heidi Crebo-Rediker and Douglas Rediker recently wrote in Foreign Affairs on why Europe risks missing a critical moment for reform. They argue that European leaders have long understood the economic and institutional changes needed to strengthen the European Union and enable it to act as a global power. Yet political constraints within member […]

Today we welcome new member Byron Boston to BWC! Byron L. Boston is Chairman and Co-CEO of Dynex Capital. He serves on advisory boards including the Mortgage Bankers Association and NAREIT’s Advisory Board of Governors, and is a board member of the Salzburg Global Seminar, where he has chaired the Investment and Finance Committees. He […]

BWC member Gregga Baxter, General Manager at GIB Asset Management, recently published an in-depth outlook on investment themes for 2026. Drawing on macro trends and shifting market dynamics, Baxter’s analysis highlights how the focus of capital markets is poised to evolve next year—from how AI is used to broader opportunities across emerging markets and global […]

BWC member Udaibir Das recently wrote for OMFIF on the significance of The Trevor Manuel G20 Africa Expert Panel Report, released during South Africa’s historic G20 presidency. Das argues that while the report does not uncover new challenges, it stands out because it finally prescribes systemic solutions to long-standing issues in Africa’s development and financial […]

Today we welcome new member Elizabeth Shortino to BWC! Elizabeth Shortino is a Managing Director with Alvarez & Marsal Public Sector Services. With more than 15 years of experience in the public sector and at international financial institutions, she has helped shape U.S. international economic policy—from G7 and G20 leadership to expanding IMF crisis resources […]

BWC member Mark Sobel writes in OMFIF that Japan’s renewed warnings over yen weakness—and hints of intervention—reflect familiar patterns, but with even less clarity from the new leadership team. Sobel notes that the yen’s 30% five-year depreciation mirrors underlying fundamentals, not disorderly markets. Liquidity is strong and trading is smooth. The real issue, he argues, […]

BWC Chair Bill Dudley joined CNBC’s Squawk Box to break down what to expect from the Federal Reserve ahead of this week’s policy meeting. Dudley discussed the outlook for potential rate cuts, the balance of risks facing the Fed, and the ongoing debate over whether upside inflation pressures or downside risks to the labor market […]

Today we welcome new member Maximilien Maisonrouge to BWC! Maximilien (Max) Maisonrouge is a Partner in the Private Credit group of Katten Muchin Rosenman LLP representing financial institutions, banks, corporate borrowers and private equity sponsors in a variety of financing transactions including unitranche, first- and second-lien credit facilities, investment grade, middle-market and large-cap financings, cross-border and […]

In a new member discussion paper, Michael Granito addresses concerns about the Fed’s response to liquidity crises and makes the case for the Discount Window as a practical, standing source of contingent funding to support banks’ role in credit market intermediation. He ultimately outlines two recommendations to strengthen the banking system’s response to liquidity stress. 

The operational work of the World Bank Group over many decades has largely concentrated on supporting medium- to long-term development projects. It is not in the business of emergency humanitarian relief. But today there is a crisis. The World Bank uniquely has the knowledge, expertise, resources, and capacity to mobilize resources that could play a […]

BWC Board Member Laura Cha recently spoke at the FII Institute’s Asia Summit, where global policymakers, investors, and business leaders explored how Asia’s economic trajectory is reshaping global growth. During the panel “Board of Changemakers: How Asia Is Shaping the Future of Global Growth,” Cha emphasized Asia’s role as a driving force of the world […]

Today we welcome new member Joanna Kalmer to BWC! Joanna Kalmer is the CEO and founder of Fina Cyberis as well as the founder of Cyferium, both focused on knowledge sharing in the digital asset space. Joanna is an investor focused on financial innovation and fintech. She began her career as a currency trader in […]

BWC Vice Chair Rebecca Patterson joined CNBC’s Squawk on the Street to share her outlook on the Federal Reserve’s next steps. While she expects a December rate cut, Patterson emphasized that the more meaningful developments will come in the new year as the Fed faces several major institutional decisions that could influence policy long beyond […]

BWC Advisory Council Member Afsaneh Beschloss recently spoke at Widehall’s inaugural American Growth Summit, where administration officials, members of Congress, business leaders, economists, and innovators came together to examine the forces reshaping the American economy and what they mean for the future of growth. In conversation with Steve Clemons, Afsaneh discussed smart investment strategy, scaling […]

Today we welcome new member Tetsuharu Minowa to BWC! Tetsuharu Minowa is a financial researcher and government liaison at the Nomura Research Institute (NRI), Japan’s first full-fledged think tank and IT solutions provider. He specializes in digital finance, international financial regulations, and capital market analysis. Before joining NRI, he spent over 17 years as a […]

BWC member Qahir Dhanani recently shared his perspective in a Devex interview on how development finance must evolve in today’s multipolar world. Qahir reflects on a turbulent year for global development finance—marked by shifting geopolitics, reduced foreign aid, and growing demand for innovative capital mobilization—and highlights the need for new cross-sector partnership models that move […]

BWC members William Jannace and Alma Angotti coauthored a recent Global Financial Markets Institute (GFMI) article examining how anti–money laundering (AML) compliance has evolved from a financial-sector concern into a broader national security issue. As illicit finance continues to grow in scale and complexity worldwide, their piece argues that AML frameworks must adapt accordingly—moving beyond […]

Today we welcome new member Sarah Elliott to BWC! Sarah Elliott is General Counsel at NewCo. She also serves as an advisor at Bridge, the Venture Dept., Nyca Partners, and Coastal Community Bank. She has held senior roles across fintech and banking, including GC/CCO positions at OnePay and Azlo, and was the first lawyer at […]

Barron’s has released its annual list of the 100 Most Influential Women in U.S. Finance, honoring leaders who are shaping the modern financial services industry. Among this year’s honorees are several Bretton Woods Committee members including Afsaneh Beschloss, Founder, CEO, RockCreek Group; Joyce Chang, Chair of Global Research, J.P. Morgan; Martina Cheung, President, CEO, S&P Global; Mary […]

Fabio Natalucci commentates on the book Private Finance, Public Power: A History of Bank Supervision in America in his newest article for F&D Magazine. Natalucci argues that banking oversight is built upon the struggle of public power and private finance. In the article Natalucci details how the financial structures in America are created incrementally to […]

BWC member Gregga Baxter recently published an article with Gulf International Bank examining the market’s sharp pivot toward AI and a handful of dominant tech leaders. He highlights the growing concentration risk and underscores GIB Asset Management’s view that disciplined allocation is key to protecting long-term objectives. To read the full article at GIB, click […]

Today we welcome new member Fabrizio Pagani to BWC! Fabrizio Pagani has served as a Partner at Vitale since 2022. He has spent most of his career in public service in international organizations and with the Italian government. He worked at the OECD as advisor to the Secretary-General and representative to the G20, later serving […]

BWC member Andreas Veneris, alongside co-authors Darrell Duffie and Odunayo Olowookere, recently shared a policy note on the effectiveness of Canada’s proposed Stablecoin Act. While the authors welcome and encourage stablecoin regulation, they argue that as is, the Act is likely to increase regulatory uncertainty, risks over-extending the Bank of Canada’s mandate, and lacks sufficient […]

In a new Atlantic Council article, BWC Member Hung Tran discusses the outcomes of the 2025 G20 Summit and the potential for a strategic reset under next year’s G20 summit hosted in the US. Tran highlights the challenges faced during the South Africa summit, including the absence of key global leaders and disagreements over the […]

Today we welcome new member Ricardo Mora to BWC! Ricardo Mora is a Managing Director and Vice Chairman of the Americas at HPS Investment Partners. Prior to joining HPS in 2024, he held various roles as a partner at Goldman Sachs, including co-head of Fixed Income Sales for the Americas, co-head of Latin America, and […]

AI is now a strategic, operational, and legal priority for every board. A new IoD Business Paper, co-produced by BWC member Jonathan Everhart, offers directors practical guidance for governing AI responsibly. From anticipating global regulatory shifts to embedding accountability and ethical oversight, the paper outlines 12 principles to help boards harness AI’s potential while managing […]

In a new conversation with Financial Times’ Martin Wolf, BWC Board member Agustín Carstens explores the role of central banks as stewards of monetary stability, the pressures on their independence, and how they must modernize to meet today’s challenges. Carstens discusses the necessity of preserving institutional autonomy while adapting policy tools to effectively address these […]

Today we welcome new member Vasileios Tsianos to BWC! Vasileios Tsianos is Vice President of Neo Performance Materials. He also serves as chairman of the Global Rare Earth Industry Association, board director of the European Union Chamber of Commerce in Canada, and advisors committee member of the International Energy Agency. He has advised governments on […]

BWC Member Andreas Veneris examines the evolving landscape of digital privacy, decentralization, and digital assets a new CIGI paper. Veneris explores how these technologies challenge traditional regulatory frameworks and discusses the implications of decentralized finance and central bank digital currencies (CBDCs) on financial stability and privacy. To read more at the Centre for International Governance […]

Examining the effects of AI on the economy, BWC Chair Bill Dudley examines the three key factors for long-run economic growth: growth, labor, and interest rates. He ultimately argues that AI will have a marginal effect on these three factors resulting in AI having a less than significant effect on the future global economy. To […]

Today we welcome new member Naureen Hassan to BWC! Naureen Hassan joined DriveWealth, a brokerage-as-as-service provider, as global CEO in 2025. She has decades of experience in digital and product innovation, most recently as president of UBS Americas. Prior to her tenure at UBS, Naureen served as the first vice president and chief operating officer […]

In a new article for the IMF’s Finance & Development magazine, BWC Member Andreas Veneris and his co-authors discuss the tension between privacy and compliance in digital assets. The authors argue that new “smart-compliant” payment systems, built directly into stablecoin blockchains, can resolve this tension. This “compliance-by-design” approach would use technologies like zero-knowledge proofs (ZKPs) to […]

In The New York Times, BWC Vice Chair Rebecca Patterson contemplates the stability of economic growth that is increasingly dependent on AI, boosting equities, and infrastructure. With fewer broad drivers of growth, Patterson is concerned that the economy is much more vulnerable. Despite seemingly robust economic growth, she warns that if we continue at this […]

Today we welcome new member Irina Shaorshadze to BWC! Irina Shaorshadze is a Director and FICC Quant Strategist at Bank of America Global Research where she works on quantitative investment solutions and commodities. She has previously worked in the Economics team and at Global Risk. Prior to BofA she worked at the World Bank on […]

In Andreas Veneris’ new paper, he raises potential questions on privacy in Blockchain technology in relation to stablecoins and the GENIUS Act. By implementing systems into decentralized stablecoin payment technology such as Know Your Customer (KYC), Anti-Money Laundering (AML), and Countering the Financing of Terrorism (CFT) privacy risks could decrease, making for safer payment technologies. […]

When the odds seem stacked against human aspirations—when economic growth looks set to remain feeble as far as the eye can see, when too many countries seem destined to grow old before they become rich, when climate change seems to have crossed the tipping point—it is worth remembering the distinctive virtue of our species. Predictions of global doom have proliferated throughout […]

Today we welcome new member David Inderias to BWC! David Inderias is co-founder and CEO at FSCO, an agri-fintech company uses Web3 and AI to provide financial infrastructure for the agribusiness sector. As CEO of FSCO, he leads a team that partners with central banks, commercial lenders, EMIs, and regulators to take regulated digital-asset projects […]

How should a government manage a bank failure, responsibly? This question is at the heart of bank resolution. A failing commercial business will enter classic bankruptcy, and a small bank will have its assets liquidated in a similar fashion. However, simply liquidating a large, systemic bank risks disrupting vital economic functions and spreading panic across the […]

BWC members Jodie Gunzberg and Hilary Till recently co-wrote wrote an article on the potential infrastructure risks that AI development poses. They highlighted the immense power usage of AI, potential obsoletism, and the risk that AI becomes a stranded asset. With the challenges that developing infrastructure around AI can pose, the article explores the ways […]

Today we welcome new member Jake Carney to BWC! Jake Carney is a Partner, Head of Macro, and Deputy Chief Investment Officer at Castle Hook Partners, a New York-based global macro hedge fund. Mr. Carney heads the firm’s Washington, D.C. office. Prior to Castle Hook, he was a strategist at Soros Fund Management, where he […]

BWC member, Linda Jeng breaks down the potential for stablecoins to change the status quo of the Federal Reserve. She proposes having stablecoins back Federal Reserve payments to create a “narrower” banking system which seeks to facilitate liquidity over credit. The Fed’s adoption of stablecoins could reduce systemic risk by filling in the gap between […]

In McKinsey Global Institute’s article on the state of financial balance, authors Jan Mischke, Rebecca J. Anderson, Olivia White, Sven Smit, Michael Birshan, Nick Leung, Sylvain Johansson, Arvind Govindarajan, and Ezra Greenberg show that the growth of nations is slowing growth while wealth imbalances are  increasing. The article examines potential solutions to these challenges, showing the importance of […]

Today, we welcome new member David Alcaly to BWC! David Alcaly is a portfolio manager and analyst at Lazard, where he also serves as lead macroeconomic strategist for their Investment Solutions group. He began working in the investment field in 2014. Previously, David worked in a variety of industries and countries, most recently providing commercial […]

Shamaila Khan and Sangram Jadhav demonstrate how investment grade emerging markets debt can be used as an indicator of a strong growing economy. EM investment grade hard currency debt is becoming a more attractive investment when compared to other asset classes which with the proper support can be extremely beneficial to the market. To read […]

The International Monetary Fund (IMF) is trailing the debate about digital monies. It is slow to incorporate key new monetary developments into its remit to improve cross-border payments and strengthen the international monetary system. The IMF has been a money innovator in the past, notably with the introduction of the Special Drawing Rights (SDR). But […]

Today, we welcome new member Jason Allegrante to BWC! Jason Allegrante is the Chief Legal and Compliance Officer at Fireblocks, where he manages a broad portfolio of legal, regulatory, commercial, and compliance matters. Since 2018, Jason has served as senior legal counsel to early stage fintech and SaaS companies. Previously, he worked in the Financial […]

In his newest piece for Bloomberg, BWC Chair William C. Dudley discusses how a feared investment bubble in the Artificial Intelligence industry could still have a positive impact on the economy. Dudley argues that the massive capital being invested in AI infrastructure could lead to significant productivity gains and create new industries, benefiting the broader […]

As delegates are set to arrive in Washington, DC for the IMF-World Bank Annual Meetings, BWC member Mark Sobel notes their growing agenda of challenges to discuss. With unpredictability surrounding tariffs, resource allocation, and fiscal responsibility, it is set to be a tough week of conversations for the IMF, World Bank, and all of their […]

In new research published by the Policy Center for the New South, Hung Tran highlights the benefits of tokenized money. Developments in monetary tokenization provide many opportunities but raise questions about reserve currencies, payment systems, and more, which Tran explores in this report. He does warn that digital currency could lead to complications, which means […]

Today we welcome new member Xiao Cui to BWC! Xiao Cui joined Pictet Wealth Management in Geneva as a senior US economist in 2023. Prior to joining Pictet, Xiao spent a decade in macro research at Credit Suisse’ investment bank in New York. Xiao holds a bachelor’s degree, summa cum laude, in economics and international […]

BWC Chair William C. Dudley questions the Fed’s decision in September to cut interest rates in a new opinion piece for Bloomberg. Dudley breaks down three reasons on why further cutting interest rates might not be the best decision going forward, basing his argument on risk management, anticipation, and estimation error. To read more at […]

BWC Advisory Council Member Greg Johnson shares his predictions on the role of cash in future economies. In an interview on NBC’s 11Alive, Johnson gives his thoughts on why dwindling use of cash in American markets might be a bad thing. Elimination of cash within markets could result in an inability to use cash during […]

Today we welcome new member Sergei Guriev to BWC! Sergei Guriev has served as Dean of the London Business School since 2024. Before that, he was Provost and professor of economics at Sciences Po. Previously, Sergei served as Chief Economist of the European Bank for Reconstruction and Development. He is a Research Fellow at the […]

The McKinsey Global Institute recently published a new report on the importance of Foreign Direct Investments (FDIs) in shaping global energy production and AI development. Written by Tiago Devesa, Jeongmin Seong, Oliva White, Nick Leung, Michael Birshan, Jan Mischke Camillo Lamanna, and Masud Ally, the report identifies FDI’s potential to help pivot global energy sources […]

“Economic uncertainty is high, as reflected in the wide dispersion of views within the FOMC,” says BWC member Mark Sobel in his latest OMFIF article with Marco Annunziata. The authors analyze the latest changes in rate cuts and economic outlooks from the latest FOMC meeting. The future of rate cuts is uncertain, but they ultimately […]

Today, we welcome new member Patrick Noonan to BWC! As Chief Development Officer at Argano, the first and largest Global Specialist Consultancy (“GSC”) focused exclusively on enabling high-performance operations, Patrick Noonan has been instrumental in accelerating the company’s growth since its inception. Argano partners with Fortune 1000 companies to modernize their digital operating platforms and […]

BWC Vice Chair Rebecca Patterson recently appeared on CNBC to share her reactions to last week’s September FOMC meeting. Patterson argued, “It’s hard to argue that interest rates are hugely restrictive right now.” She went on to discuss the influence of digital technologies on financial markets and more. To watch more at CNBC, click here. […]

Michael Hsu, in his newest paper, discusses potential changes in AI models to make them more accurate for use in financial industries. Hsu suggests a shift in language-based models to focus on how results are formed rather than interpretability. He ultimately argues that this shift could help financial industries use AI on a larger scale […]

Today we welcome new member Russell Badowski to BWC! Russell Badowski is a colonel in the U.S. Air Force with 23 years of national security experience spanning combat operations, strategic planning, defense policy, and interagency coordination. Colonel Badowski is also a faculty member at the Eisenhower School for National Security and Resource Strategy at the […]

Former New York Fed President and BWC Chair Bill Dudley appeared on Bloomberg to preview this week’s highly anticipated September FOMC meeting. Despite growing concerns over the labor market and a steepening yield curve, Dudley sticks with his original prediction, which he elaborates on in a recent episode of Macro Matters. Bill Dudley: Markets ‘Too […]

Paul Sheard’s newest opinion piece in the Wall Street Journal comments on the direction of the Federal Reserve. Sheard suggests that the Federal Reserve strengthen its identity as an independent institution while also communicating more effectively with the US government. To read more at Wall Street Journal, click here. All views expressed by members are […]

Today we welcome new member Pilar Frank O’Leary to BWC! Pilar Frank O’Leary is founder and president of PFO Advisory Group, which advises leading foundations and companies in the U.S., Latin America, and other global markets on their social impact and public-private strategies. She has over 20 years of experience working on global initiatives at […]

BWC Member James S. Welch recently published an article on the implementation of blockchain for the storing and exchange of large-scale financial assets in the Law and Financial Markets Review Journal. He argues that more effective regulation is needed, pointing out three major flaws that could potentially lead to security risks, regulation oversights, and human […]

BWC Member Shamaila Khan recently co-authored a piece for UBS examining the sharp rise of hard- and local-currency debt in emerging markets. Tracing a decade of debt dynamics, the authors break down the story into past, present, and future, highlighting what could come next. They note that, “Easing of tariffs, reduced geopolitical tensions or negotiation […]

Today, we welcome new member Nili Gilbert to BWC! Nili Gilbert, CFA, CAIA, is the Vice Chairwoman of Carbon Direct. She is also chair of the Glasgow Financial Alliance for Net Zero’s Advisory Panel of technical experts. She is a Senior Advisor at BCG and Chairwoman of the David Rockefeller Fund and the Synergos Institute […]

BWC Vice Chair Rebecca Patterson and Ishaan Thakker outline their concerns on AI in their newest article in the Council on Foreign Relations. The two authors bring insightful commentary on AI’s effects on current job markets and the overall effect of investment in AI. To read more at Council on Foreign Relations, click here All […]

In Ousmene Mandeng’s newest OMFIF article, he highlights the shortcomings of stablecoins and their proposed method of helping US National Debt. Mandeng argues that the power of stablecoin relies on the assumption of stablecoins increasing the demand for Treasury Securities. To read more at OMFIF, click here All views expressed by members are their own […]

Today, we welcome new member Himamauli Das to BWC! Himamauli Das is a Senior Managing Director & Counsel for K2 Integrity. Him helps clients navigate geopolitical, legal, and compliance challenges, with a focus on the rapidly evolving economic security landscape. Him most recently served as the acting director of the Financial Crimes Enforcement Network (FinCEN). […]

The Bretton Woods Committee congratulates Advisory Council Member Minouche Shafik on her recent appointment as Chief Economic Advisor to Prime Minister Keir Starmer. Her deep expertise and leadership will be invaluable to the UK government at this pivotal moment. We have been fortunate to witness her insights firsthand, most recently on our Macro Matters podcast, and look […]

World Bank President Ajay Banga is rightly proud that he is leading a major internal organizational effort to make the Bank more efficient. He wants to support the people and communities who, in his words, “We serve at the heart of our work.”   Recently, he noted: “We replaced a 153-item scorecard with 22 outcome-focused metrics—sharpening […]

Today, we welcome new member Alma Angotti to BWC! Alma is a recognized expert in financial crime and economic sanctions compliance. She has spent 14 years as a managing director or partner in global consulting firms. With over 25 years of experience in regulation and enforcement, Ms. Angotti, a lawyer by training, has held senior […]

The Trump administration has introduced widespread changes in US economic policy and public institutions, but perhaps the most significant changes have been made in trade policy. The tariff program introduced in early April represents the most fundamental change in US trade policy in the last 80 years and a major reversal of the leading role […]

In 11alive’s news segment Rubicon Digital CEO and BWC Member, Greg Johnson gives his insight on the new federal cryptocurrency orders. Johnson discusses the negative implications of cryptocurrencies use in 401k and the SEC’s response among many other things.  To watch more at 11alive, click here.  All views expressed by members are their own and […]

BWC Member Hung Tran breaks down how US tariff changes have affected global economies as multilateral trade is being replaced by Plurilateralism and Regionalism. Tran writes, “Countries will need to restructure their economies and pursue new opportunities to sustain growth in an increasingly uncertain and difficult global environment—a tall order for many.”  To read more […]

BWC member Majeed Javdani argues “the Executive Order ‘Guaranteeing Fair Banking for All Americans‘ operates within the scope of executive authority, clarifies the enforcement obligations of federal agencies, and protects the integrity of both the financial system and the rule of law.” To continue reading at The POTUS Press, click here. All views expressed by members are their own […]

Despite soaring temperatures in Seville, participants at the recent 4th International Conference on Financing for Development (FFD4) were unable to escape the effects of a cooling global economy. Among those attending—including Heads of State, UN representatives, and the leaders of Multilateral Development Banks and International Financial Institutions—there was a real sense of urgency to identify […]

In a new piece for OMFIF, BWC member Ousmene Mandeng examines the complexities of stablecoin regulation. As countries around the world weigh crypto oversight, he outlines key considerations for effective policy. “There is generally no regulatory gap when it comes to issuing money. With stablecoins, regulators now risk creating one failing their own principles of […]

On a recent episode of CNBC’s Squawk on the Street, BWC Vice Chair Rebecca Patterson reacts to earnings growth, Federal Reserve independence, and progress in the crypto industry. To watch more at CNBC, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

BWC Advisory Council Member Greg Johnson joined NBC News 11Alive to discuss what he called a “historic month for the digital asset industry.” He offers insight into bitcoin’s recent surge and the impact of new legislation on the crypto market. To watch more at 11Alive, click here. All views expressed by members are their own and not […]

“Countries facing genuine debt distress require comprehensive restructuring focused on restoring solvency rather than managing marginal liabilities with conditional development.” In a new article for OMFIF, BWC Member Udaibir Das discusses the viability of debt swaps as a form of financing for development needs. To read more at OMFIF, click here. All views expressed by members are […]

In a recent Financial Times article, BWC Advisory Council Member Minouche Shafik explores the evolution of global cooperation. Without US leadership, Shafik explains, other countries must work together in new ways to explore solutions to global challenges. “It also seems clear that a G minus one world is starting to fill the vacuum in some […]

BWC Member Majeed Javdani breaks down the GENIUS Act in a new article for POTUS Press, calling it “a federal-state partnership for regulated financial intelligence—one that calls on private sector innovation, fintech adaptability, and state-level economic sovereignty.” Javdani also outlines how the GENIUS framework differs from Central Bank Digital Currencies (CBDCs), and explores its potential […]

BWC Member Paul Sheard joined Cody Ellingham on a recent episode of The Transformation of Value. As best-selling author of The Power of Money: How do Governments and Banks Create Money and Help us all Prosper, Paul Sheard discussed the role of governments and central banks in shaping the modern monetary and fiscal system. To […]

A new Atlantic Council piece by Hung Tran and Barbara C. Matthews assesses the extent to which various countries are adopting stablecoins and digital currencies. The authors write, “The prospect of quickly expanding the dollar-based stablecoin market after the Senate passed the GENIUS Act raised alarm bells, particularly in China and Europe.” To continue reading […]

It is so easy to be critical of environmental issues, particularly when one doesn’t have any responsibility for outcomes. In essence, the issue stands at the crossroads of responding to growing energy demand (the largest source of carbon emissions) and generating much needed economic development—particularly in emerging economies. Reconciling these seemingly conflicting goals is all-too-often forgotten or […]

Following the recent Fitch downgrade of Afrexim Bank, BWC Member Victor Ojeah discusses the ongoing debates surrounding its Preferred Creditor Status in a new paper. His research examines the international, legal, and politico-economic dimensions of the claim by African multilateral financial institutions to be recognized as preferred creditors, alongside institutions like the IMF, World Bank, […]

Nigeria’s recent sovereign credit rating upgrades—by Fitch to B from B– on 11 April 2025 and by Moody’s to B3 from Caa1 on 30 May—are more than symbolic milestones. They are a forceful signal that credible reforms, when sustained, can turn the tide of investor sentiment and restore confidence in one of Africa’s largest economies. While […]

“If we accept that symbols of value are no longer just placeholders but agents of meaning, then money itself transforms.” In a new article, BWC Member Majeed Javdani discusses the implications of programmable money, which is context-aware, adaptive, and ethically traceable. To continue reading at The POTUS Press, click here. All views expressed by members are their […]

A new episode of Bloomberg Surveillance features BWC Vice Chair Rebecca Patterson discussing the role of Treasuries and the U.S. dollar as a safe haven in light of Middle East tensions and questions around the future of US exceptionalism. With Treasuries rising due to the conflict between Israel and Iran as well as strong auctions […]

BWC Member Hung Tran writes in a new Atlantic Council piece that demand for safe assets has surged amid economic uncertainty. As international investors seek to diversify their holdings, the US dollar’s dominance will weaken, and global financial market volatility will rise. To continue reading at Atlantic Council, click here. All views expressed by members are their […]

“Europe’s strongest hedge against the U.S. trade war is to secure more agreements with allies, not with China.” In a new Foreign Affairs article, BWC Member Heidi Crebo-Rediker and Liana Fix outline how Europe can counter Trump’s tariffs, without turning to China.  To continue reading at Foreign Affairs, click here. All views expressed by members are their […]

On CFA Institute’s newest episode of Compound Insights, BWC Member Rohit Goel discusses the global impact of this new era of economic volatility. With new opportunities in international markets, Goel notes that monetary policy will increasingly come into focus.  To continue reading at CFA Society New York, click here. All views expressed by members are their own […]

BWC Vice Chair Rebecca Patterson joined the Here and Now Newsroom for a conversation on the US credit rating and projected impact of the new tax and spending bill on national debt. After Moody’s downgraded the U.S. credit rating, economists say the debt may soon hamper growth and disadvantage regular Americans. To continue reading at Here and […]

In this recent piece, BWC member Mark Sobel argues that the upcoming G7 summit will be a crucial test of cohesion and credibility. He writes that the renewed momentum in recent years of the G7 as a “cohesive, democratically aligned forum” will be tested and it will be difficult for the foreseeable future to reach […]

BWC Member Gary Kleiman recently published a book that provides a comprehensive framework for investment, development, and humanitarian organization professionals. Drawing on his decades-long experience advising public and private sector participants active in emerging markets, Kleiman offers techniques from both the public and private sector to analyze emerging economies and financial markets. To continue reading at SpringerLink, click […]

In a new article for OMFIF, BWC Member Mark Sobel outlines how global imbalances have changed in the past two decades. After Secretary Bessent and other G7 finance ministers called on the IMF to “bear down on the ‘global imbalances,'” it’s an apt time to look at how the U.S.’s contribution to GI’s has morphed. […]

In a keynote conversation on The Undisrupted Show, BWC Member Paul Sheard joins Ian Khan for a conversation exploring the fundamental mechanics of money, its role in the global economy, and common misconceptions surrounding it. Sheard presents these complex topics in a clear and insightful manner, offering timely perspective on issues that remain highly relevant in […]

BWC Advisory Council Member Greg Johnson recently appeared on NBC News 11Alive to share updates on the GENIUS act. He stresses the significance of this new stablecoin legislation and shares the history of stablecoins, including why they matter and how they affect various levels of governance.  To continue watching on YouTube, click here. All views expressed by […]

“Lawmakers should know that the potential for America to shift from a gradual, albeit unsustainable path to a sudden financial crisis is surely increasing,” writes Rebecca Patterson in a new New York Times article. Following Moody’s removal of triple-A rating for the federal government, Patterson warns that the United States is on rocky policy path […]

“Without a bipartisan grand bargain on spending and revenues, the nation’s fiscal trajectory will worsen, no matter who occupies the Oval Office,” writes BWC Member Mahesh Kotecha. In a new Financial Times article, Kotecha explains how the United States reached a point where none of the major credit agencies maintain a AAA rating for the country, […]

In a new article for Barron’s, BWC Member Vincient Arnold addresses the concerns that the Fed might withdraw its swap lines given the stance of the current US administration. Arnold writes, “Taking steps to reduce foreign official holdings of Treasuries and agencies while also withholding swap lines would undermine the role of the U.S. as […]

In a new Atlantic Council article, BWC Member Hung Tran highlights growing concerns over the inconsistent implementation of the Basel III reforms across major economies. He warns that delays and divergences, particularly among the U.S., EU, and UK threaten to undermine the uniformity of global banking regulations, potentially leading to a fragmented regulatory landscape.  To continue reading […]

In his recent piece, BWC member Frank Vogl discusses the possible approaches of the Trump administration toward the Bretton Woods institutions and global poverty funding. He states “it is imperative that the other major shareholders and financial supporters in the Bretton Woods organizations and other multilateral official agencies raise their voices in support of cooperation […]

“Ultimately, if stablecoins are not clearly defined as a form of money — whether as a cash equivalent or negotiable instrument — it could render them impractical as a medium of exchange and would defeat the purpose of potentially significant legislation,” writes BWC Member Linda Jeng in a recent Financial Times article. She outlines what […]

“With few or no deals on the table and no Plan B, Congress – under growing pressure from voters, businesses, and donors – will be forced to act as Trump’s 90-day pause nears its end.” In a new article for Project Syndicate, BWC Vice Chair William Rhodes and Group of 30 Executive Director Stuart Mackintosh […]

In a new OMFIF article, BWC Member Mark Sobel addresses concerns that recent economic actions have been setting in motion a gradual decline in dollar dominance. Sobel validates these worries, but ultimately decides that fears of full dollar-collapse are premature. He writes: “The dollar’s global role will most likely ease in the coming years as […]

In a new article for the IMF’s Finance and Development Magazine, BWC Advisory Council Member Minouche Shafik co-writes with Masood Ahmed making the case for health taxes. With questions regarding how to finance development taking center stage during the IMF and World Bank Spring Meetings, Shafik and Ahmed explain that higher taxes on tobacco, alcohol, and […]

BWC Member Gregga Baxter recently spoke at the launch of the new Air Quality Toolkit for Development Finance Institutions (DFIs). This toolkit aims to help DFIs to integrate clean air into their multi-sectoral investments as well as to understand how their development projects can lead to air quality improvement. It has been released in collaboration with the […]

Last week’s Spring Meetings showed that the IMF and World Bank are still at the center of global economic cooperation and the U.S. continues to recognize the value of leadership in them. We just wrapped up another round of the IMF and World Bank Spring Meetings here in Washington and left convinced that these institutions […]

In an interview just after his appearance at BWC’s 2025 Spring Summit, Vice Chair John Lipsky speaks with Kathleen Hays about why the IMF and World Bank remain essential and irreplaceable institutions. Lipsky also shares insights on the tariff policies the Trump adminstration is imposing on the rest of the world and the impact it will have […]

During Spring Meetings week, BWC Vice Chair Rebecca Patterson sat down with The Compound News podcast, The Compound and Friends. Their conversation covered the Spring Meetings, the stock market, trade, the Fed’s dilemma, foreign capital flows, and more.  To continue reading at The Compound, click here. All views expressed by members are their own and not reflective of […]

BWC Vice Chair John Lipsky was interviewed on Bloomberg Surveillance to discuss the IMF’s newest growth projections, the importance of the BWIs amidst uncertainty, and how they might situate themselves under the new Trump administration. His comments come just after Treasury Secretary Scott Bessent’s remarks on remaining committed to strong US leadership in both the […]

“Yet just as important as these security considerations is the administration’s rejection of the treaties, organizations, and economic institutions that the United States has done so much to shape,” writes BWC Member Ngaire Woods in Foreign Affairs. As the U.S. retreats from its traditional leadership role in the international system, its allies and other international […]

All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee. Setting the stage for what promises to be an eventful week of discussions at the IMF World Bank Spring Meetings, BWC Members Meg Lundsager, Elizabeth Shortino, and Mark Sobel’s new article in The Hill points out […]

A new article in the World Bank’s 1818 Society Quarterly by Frank Vogl sees similarities between the political circumstances of today and the 1980s. A newly inaugurated Reagan administration was intent on cutting government spending, partially at the cost of the BWIs. Various meetings between Treasury officials and World Bank officials at this time ultimately led to […]

In a recent article, BWC Member Elizabeth Shortino highlights how US involvement in the IMF serves the country’s best interests. To that end, Shortino also notes that the IMF could stand to refocus its priorities, keeping their original core mandates at the front of mind. Despite some claims, cost of participation for the U.S. is low, […]

BWC Member Tamar Gutner recently published a book detailing the complexity of the AIIB: a liberal international organization designed by a group of state and MDB experts to reflect the existing norms and rules of development banking while, at the same time, it is the creation of an illiberal state that interacts with the existing order […]

A new article by BWC Member Paul Sheard argues against concerns over national security in Nippon Steel’s proposed acquisition of U.S. Steel on the basis that the modern economy has shifted away from manufacturing and the deep security alliance between the U.S. and Japan. Sheard proposes that the deal would likely bring capital, innovation, and operational improvements—strengthening, […]

In a recent article, BWC Member Majeed Javdani explores the rapid development and integration of AI in business operations, highlighting both the opportunities and risks it presents, especially concerning trust, control, and compliance. He concludes that the key to leveraging AI successfully lies in maintaining control over AI interactions, fostering resilience, and upholding business integrity in […]

In a new article for Project Syndicate, BWC Chair Bill Dudley makes the strong case for implementing a robust regulatory framework that incentivizes stablecoin issuers to register in the United States. He cites dollar strength and stability as outcomes of proper stablecoin regulation. Dudley writes, “Congress and the Trump administration should move swiftly to provide […]

BWC Member Jason Schenker was recently interviewed on Bloomberg discussing the most recent Federal Open Market Committee Meeting. He credits the reason to leave interest rates unchanged with uncertainty surrounding the inflationary effects of tariffs.  To continue reading at BNN Bloomberg, click here. All views expressed by members are their own and not reflective of the views […]

A new article from BWC Members, Rohit Goel and Udaibir Das, and co-author Swapnanil Sengupta details India’s rapid economic growth in recent years. The authors note that their ambition to achieve developed-market status by 2047 hinges on sustaining high growth rates while managing emerging financial vulnerabilities. To safeguard financial stability, the authors recommend strengthening regulatory oversight, […]

In a new Member Spotlight, BWC Member Gary Kleiman explores the rethinking of crypto and AI digital payment applications in emerging markets amid fiscal and economic challenges. El Salvador is scaling back its Bitcoin experiment, while Nigeria and Turkey are navigating crypto adoption with regulatory crackdowns and formal licensing, respectively, to stabilize their economies. Kleiman […]

In a new Member Spotlight, BWC Member Hung Tran co-writes for the Atlantic Council, urging the mobilization of private capital to bridge the significant financing gap for global infrastructure and climate goals, emphasizing that public funding alone is insufficient. Underscoring the importance of international cooperation, policy reforms, and multilateral institutions in acting to achieve this, […]

In a recent Forbes article, BWC Member Majeed Javdani argues that the modern economy is driven by knowledge resources rather than physical infrastructure, which would position Canada in particular to leverage its intellectual capital to develop innovative value chains beyond traditional trade dependencies, particularly with the United States. Javdani writes, “Canada’s economy, rather than being viewed […]

In a new interview with Financial Times columnist Alan Beattie, Minouche Shafik discusses the dramatic fundamental shift in the global landscape for aid and development. Shafik emphasizes the need for a new approach to international development that balances mutual benefit, prioritizes high-quality aid over sheer volume, and addresses long-term challenges. To continue reading at Financial Times, click here. All […]

BWC Member Rohit Goel recently appeared on the Monetary Matters podcast to share his views on emerging markets, the dollar, and bond market. He discussed the current state of global financial stability, highlighting key factors influencing market dynamics and giving his perspective on future economic trends and potential investment strategies. To continue reading at The Monetary Matters Network, click […]

In a new Atlantic Council article, BWC Members Barbara C. Matthews and Hung Tran share an update on the global debate surrounding central bank digital currencies (CBDCs) and stablecoins. While US policymakers are united in opposing a digital dollar and focusing on creating a regulatory framework for stablecoins, European regulators push for a digital euro and tokenized […]

In a new OMFIF article, BWC Member Udaibir Das shares his concerns with using artificial intelligence as a source for economic history. As AI models tend to rely on recent history rather than longer time periods, he fears that overuse of AI could leave policymakers unprepared for certain financial stress. In his words: “AI excels […]

Following the release of BWC’s report A Dual Strategy to Transform Cross-Border Payments, principal author Bill Dudley has written an article for Bloomberg sharing solutions to the current expense and inefficiency of cross-border payments. He notes that the United States, in particular, lags behind in its adoption of these systems, but has the potential to solidify […]

BWC Members Udaibir Das and Mark Sobel recently shared their opinions of the proposed US sovereign wealth fund (SWF). Since the proposal deviates from traditional models, Das and Sobel share the various challenges that would need to be overcome to prevent it from becoming a “politically driven investment vehicle.”  To continue reading at OMFIF, click here. All […]

In a new article for the Atlantic Council, BWC Member Hung Tran predicts economic growth in the United States in 2025 by sharing two contrasting scenarios. With short-term optimism, but long-term uncertainty, Tran explains that depending on which of the new administration’s policies come out on top, we will know which of the scenarios will come […]

In a recent New York Times opinion article, BWC Board of Directors Member Rebecca Patterson shares her prediction for a future rise in inflation based on the current bond market. She warns that many of the enacted and proposed policies of the new administration in the U.S. are soon to be felt by consumers and […]

In a recent article from the Atlantic Council, BWC Members Hung Tran and Barbara C. Matthews discuss the contrast in crypto policy between the United States and the European Union. Citing indecision in the U.S. up until now, Tran and Matthews make the case that President Trump’s recent Executive Order sends the U.S. into a pro-blockchain […]

“Brics has become an alternative power base outside the reach of the US and its allies, and a rising counterweight to US influence globally.” In a new article published by the South China Morning Post, BWC Vice-Chair William R. Rhodes and G30 Executive Director Stuart P.M. Mackintosh share their prediction of future global geopolitical power […]

BWC member Claudia Grisard Barbour recently contributed to a report published by the Swiss Financial Innovation Desk during the World Economic Forum in Davos, Switzerland titled Pathway 2035 for Financial Innovation – Your Navigator. The report gives a comprehensive overview of both the current state and future projections of fintech, covering the main themes of AI, digital assets, digital trust, […]

BWC corporate member, Circle, recently published an event recap of Wharton’s Future of Finance Forum. On a panel about “The Future of the U.S. Dollar in a Tumultuous Geopolitical Environment,” William C. Dudley, Tobias Adrian, and Heath Tarbert spoke about digital innovation, the urgency of regulation, and global collaboration.  To continue reading at Circle, click here. All views […]

In a new Member Spotlight, Majeed Javdani writes about the capabilities of a fintech ecosystem in the healthcare industry. Addressing gaps in securing investments that balance innovation and financial sustainability, Javdani applies the digital transformation innovating a variety of business models to the healthcare industry in order to increase collaboration between hospitals, physicians, patients, and medical […]

A new report from the U.S. Department of the Treasury explores the uses, opportunities, and risks of artificial intelligence (AI) in financial regulation. Written by BWC Member Jeanette Quick and her colleagues in the Office of Financial Institutions, this research builds on previous Treasury reports as well as stakeholder use-cases to identify policy considerations and […]

In a new Member Spotlight, Hung Tran writes a thorough analysis of The Geopolitics of Energy Transition from a non-Western perspective. At a time when average temperatures are breaking records and COP leaders are making promises, Tran shares opportunities for countries in the Global South to strengthen their roles in world affairs. He notes, “Global […]

In a new Member Spotlight, Gary Kleiman writes about US President Biden’s recent trip to Angola in Kleiman International. With the purpose for Biden’s visit being a visit to the US-funded Lobito rail project, Kleiman outlines the economic and political circumstances in Angola and surrounding countries. Kleiman writes, “President Biden did not raise these Lusophone soft […]

In a new Member Spotlight, Jason Schenker writes for the Center For Strategic & International Studies (CSIS) regarding the current state of the labor market in the United States. He addresses the main concern that “The U.S. labor market is struggling to fill physically demanding in-person roles.”  To continue reading at Center for Strategic and International […]

In a new Member Spotlight, Majeed Javdani writes for Forbes, detailing the need for a code of conduct in human-machine relations. As organizations and individuals increasingly interact with Artificial Intelligence, the need for legal controls like non-compete and non-disclosure agreements is called into question. Javdani asks, “Who should be held responsible for a breach of […]

In a new Member Spotlight, Sarah Hammer argues for new US regulation to greater harness the potential of Crypto. She writes “By enacting strong, comprehensive, forward-thinking crypto legislation, Congress can create a market where innovation and protection coexist and the promise of crypto can be realized to its fullest.” To continue reading at Penn Program on […]

In a recent article for Romania Fiscal Council, BWC Member Danial Daianu discusses the recent report from former Italian Prime Minister Mario Draghi. He celebrates the Draghi Report for its boldness in addressing current and future problems facing the EU. Daianu notes, “The EU needs to think big and act resolutely toward a state of […]

In the wake of the IMF’s Annual Meetings in Washington, DC last month, BWC member Gary Kleiman’s new piece discusses how announcements regarding the IMF’s lending will affect Egypt’s future economic stability and growth.  To continue reading at Kleiman International, click here. All views expressed by members are their own and not reflective of the views of […]

In a recent Financial Times article, BWC Advisory Council Member Minouche Shafik highlights the tension between public opinion and economic theory regarding trade policy. She argues that, while politicians opt for tariffs and restrictions to appeal to voters, a rules-based trading system is more likely to promote prosperity and reduce poverty.  Shafik writes “Trade policy […]

“Fintech’s role as an enabler of global governance is pivotal in the digital age,” writes BWC member Majeed Javdani for the International Digitalization Forum. “By establishing an open system architecture, multilateral organizations can utilize the ecosystem to collect and manage real-time, contextually relevant data, ensuring that their initiatives are based on accurate, fact-based information.” To […]

In a recent publication with the Penn Program on Regulation and the University of Pennsylvania, BWC Member Sarah Hammer explores the regulatory frameworks surrounding AI’s usage in finance. The current state of what regulation there is would be best described as fragmented, and Hammer proposes a taxonomy for AI explainability. Read more on how this […]

“The IMF took a noticeable swipe against China shaving the growth view to below 5% in 2024-25, with less than 0.5% consumer inflation veering toward deflation,” writes BWC member Gary Kleiman in his latest post following the Annual Meetings this week. To continue reading at Kleiman International, click here. All views expressed by members are their own and […]

Imagine a world where your money is no longer just a number in a bank account, but a digital token that can be programmed, transferred instantly, and used across various financial platforms. This is the emerging reality of money tokens, a concept that is fundamentally transforming the finance industry and whose prototypes exist in the $170 […]

In a recent op-ed for China Daily Global, BWC Member Siddharth Tiwari urges the international financial architecture to take a systemwide approach to fighting climate change. Drawing on the ideas presented in BWC’s Multilateral Reform Working Group’s latest report, he identifies the challenges faced by countries most needing to grow while also facing the strongest headwinds: middle and […]

In a recent article for the European Money and Finance forum, BWC Member Daniel Daianu writes about AI and cyber attacks.  AI can augment speculative behavior and foster panic, more instability, especially when financial markets are not adequately regulated.  Human judgement cannot be replaced by non-human intelligence in nontrivial aspects. Not least, because AI tools […]

BWC member Miguel Schloss’s latest article in the Global Journal of Science Frontier Research outlines the global progress that has been made towards transitioning to renewable energy and the steps that still need to be taken to lower greenhouse gas emissions and achieve net-zero. The three key drivers that Schloss identifies are public policy support, technology advances, […]

In a recent paper published with the Centre for International Governance Innovation, BWC member Randall Henning explores sovereign debt restructuring amid IMF reforms. The Common Framework for Sovereign Debt Restructuring provides a process for easing debt burdens on low-income countries but has operated too slowly for the four countries that have so far sought relief under it. […]

BWC chair William C. Dudley writes for Bloomberg Opinion he believes “an aggressive 50-basis-point reduction… makes sense.” What should the Federal Reserve do and what will they do? He thinks this time around the answers to those two questions will be the same. To continue reading at Bloomberg | Opinion, click here. All views expressed by members […]

Gary Kleiman’s new piece highlights the negative impacts that the Maldives’ debt could have on the island nation’s economic stability and how increasing debt could affect its ability to provide government services.  To continue reading at Kleiman International, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

BWC member Paul Sheard recently joined Caroline Woods on Schwab Network’s Trading 360 to discuss his perspective on the upcoming Federal Reserve meeting and their expected interest rate decision. To continue watching on YouTube, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

BWC member Jason Schenker recently joined BNN Bloomberg to discuss a wide array of topics: oil prices, OPEC policy, Fed policy, interest rates, manufacturing, and the economy. To continue reading at BNN Bloomberg, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

In Hung Tran’s latest Atlantic Council piece, he discusses the IMF’s surcharge system and how it affects countries in economic distress. He suggests that the IMF reform its surcharge system to relieve some of the burdens that low-income countries are facing. To continue reading at Atlantic Council, click here. All views expressed by members are their own and not […]

BWC member Hung Tran discusses the declining share of US dollars in global reserves, the reasons for the decline, and how geopolitical tensions have impacted the global demand for gold.  To continue reading at Atlantic Council, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

In her new piece, BWC member Sinead Bovell discusses how the IT failure caused by a flawed update from cybersecurity firm CrowdStrike has exposed the vulnerabilities of relying on only a few tech giants for critical infrastructure. A fix that took less than 3 days to implement for such a big disaster reveals faults in […]

BWC chair Bill Dudley writes for Bloomberg Opinion a list of the five biggest questions for the Federal Reserve to address during next week’s annual economic conference in Wyoming. To continue reading at Bloomberg | Opinion, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

BWC Distinguished Giving Society member Paul Sheard joined an The Foreign Correspondents’ Club of Japan panel with BWC member Hung Tran to discuss Trump, the dollar, and the economy. Watch the entire conversation at the YouTube channel of the Foreign Correspondents’ Club of Japan. To continue watching at The Foreign Correspondents Club of Japan, click here. All views […]

In his latest piece, BWC member Hung Tran argues that the African Union can become a more globally influential bloc and greatly increase Africa’s voice on the global stage. But to do so, “[t]he AU must fundamentally strengthen its organizational structure and secure autonomous funding to function more effectively and independently.”  To continue reading at Policy Center […]

BWC member Hung Tran writes for the Atlantic Council that “it is important that the Federal Reserve… learn from its recent mistakes” and that they must “adopt a forward-looking policy framework instead of being fixated on current economic data.” To continue reading at Atlantic Council, click here. All views expressed by members are their own and not […]

BWC chair William C. Dudley discusses for Bloomberg Opinion whether the Fed has “gone too far in its fight against inflation, tipping the world’s largest economy into a damaging recession?” Expect more volatility and turbulence before answers emerge, he says. To continue reading at Bloomberg | Opinion, click here. All views expressed by members are their own […]

BWC member Gary Kleiman writes that for Ethiopia “the race from deep to moderate debt distress is in its early laps and more like a steeplechase, where leaping technique is as important as headline endurance capacity to medal at the finish.” To continue reading at Substack, click here. All views expressed by members are their own and […]

BWC member Bill Papp was recently appointed CEO and Executive Director of Polymesh. Bill has over thirty years of financial services leadership experience in both the private and public sectors and a member of our Digital Finance Project Team. Congratulations, Bill! To continue reading at Polymesh Association, click here. All views expressed by members are their own […]

BWC member Jason Schenker was recently on BNN Bloomberg to discuss the recent Federal Reserve Board decision to maintain interest rates. “The labor market is still in pretty good shape… still a very, very low unemployment rate” pending jobs reports upcoming. To continue reading at BNN Bloomberg, click here. All views expressed by members are their own […]

BWC member Samim Ghamami was recently selected as a recipient of the SEC Chair’s Award for excellence for his work on US Treasury market reforms. Congratulations, Samim! To continue reading at LinkedIn, click here. All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.

BWC advisory council member Jean-Claude Trichet recently joined an episode of Bloomberg Voternomics to discuss the recent French parliamentary snap elections. "'The worst has been avoided' but now France must embark on a 'very complex maturing process."

BWC member Gary Kleiman writes that thanks "largely to a young professional heavy local investment community outraged by their elders... Sri Lankan professionals should be proud they helped find a partial way out of the traditional template trap."