In the Press
2026
“Trump’s Latest Effort to Fire a Fed Official Underscores Political Motives” New York Times, October 14, 2026
“‘The real defendant here is Kevin Warsh’” Politico, October 9, 2026
“Warsh’s words put markets at ease, but volatility remains” American Banker, August 31, 2026
“US Fed’s Warsh may face first test of whether he is Trump’s ‘sock puppet’” MLex, August 11, 2026
“Trump renews effort to fire Fed’s Cook, continuing attacks on central bank” Reuters, August 7, 2026
“The Fed explained: What it does and why it matters” Penn Today, May 13, 2026
“Will Kevin Warsh Trumpify the Federal Reserve?” The Economist, April 30, 2026
“Don’t Leave It to the Experts” Commonweal, February 23, 2026
“Musical chairs: Understanding the history of Fed chair selection” Marketplace, February 2, 2026
“Trump adviser Stephen Miran mired in Fed’s personnel purgatory” Semafor, January 27, 2026
“Trump sues JPMorgan and Jamie Dimon for dropping him as a customer after Jan. 6 attack” CNN, January 22, 2026
“In the case of the Federal Reserve, Supreme Court appears to carve out a murky exception” Associated Press, January 22, 2026
“Investigation of Fed chief Jerome Powell: What Trump has said about him since April 2025” PolitiFact, January 12, 2026
2025
“Inside the brewing battle over regional Fed bank leadership” American Banker, December 8, 2025
“Trump administration narrows list of potential Federal Reserve chairs to replace Powell” Associated Press, October 27, 2025
“Court’s delay in Cook case hints at unique thinking for Fed” American Banker, October 7, 2025
“Fed’s Independence Remains at Risk Despite Temporary Legal Victory” New York Times, October 2, 2025
“Trump Crashes the Fed’s Consensus” Politico, September 17, 2025
“The Battle for the Fed” Politico Morning Money, September 17, 2025
“The Fed Tried to Avoid a Fight With Trump. It Got One Anyway.” New York Times, September 15, 2025
“How Trump’s Provocative Economist Crashed the Federal Reserve” Wall Street Journal, September 15, 2025
“Fed Governor Lisa Cook Sues Trump Over Attempted Dismissal” New York Times, August 28, 2025
“Fed Governor Lisa Cook Sues Trump Over ‘Unprecedented and Illegal’ Effort to Fire Her” NBC News, August 28, 2025
“Fed official sues Trump over attempt to fire her, challenging his power over the independent agency” Associated Press, August 28, 2025
“Trump Moves to Fire Fed’s Cook, Setting Up Legal Fight” Bloomberg, August 27, 2025
“Lisa Cook’s fate heads to court” Axios, August 27, 2025
“‘Uncharted Waters’: Trump’s Attempt to Take Charge of the Fed” Wall Street Journal, August 26, 2025
“The latest in Trump’s faceoff with the Federal Reserve” NPR, August 26, 2025
“Seeking to Control the Fed, Trump Risks Upending a Pillar of the Global Economy” New York Times, August 26, 2025
“Can Trump fire Fed’s Cook? What’s known about the legal premise” Reuters, August 26, 2025
“Cook firing takes the Fed into the unknown” American Banker, August 26, 2025
“S&P Up as Trump Moves to Oust Fed’s Cook” Bloomberg Markets: The Close, August 26, 2025
“What to Know About the Allegations Against Lisa Cook of the Fed” New York Times, August 22, 2025
“Bowman’s plan to let Fed staffers own crypto raises questions” American Banker, August 22, 2025
“Why the Justices Defended the Federal Reserve” SCOTUSblog, August 7, 2025
“Two Federal Reserve governors dissent on holding interest rates” NPR, July 31, 2025
“Bloomberg Surveillance: Trade and Earnings” Bloomberg Surveillance, July 23, 2025
“Here’s What Would Happen If Trump Actually Tries to Fire Powell” WRAL News, July 22, 2025
“Can Donald Trump Fire Jerome Powell, U.S. Federal Reserve Chair?” Al Jazeera, July 18, 2025
“Goldman, Citi, BofA CEOs back a free Fed as Trump weighs Powell options” Banking Dive, July 17, 2025
“Can Trump Fire Powell? He Likely Lacks a Case, Legal Experts Say.” New York Times, July 16, 2025
“Trump Has Draft of Letter to Fire Fed Chair. He Asked Republicans If He Should Send It.” New York Times, July 16, 2025
“Trump Versus Powell: How Far Can He Push the Fed Chair?” Bloomberg Law, July 16, 2025
“White House Seizes on Fed Renovations as Opening to Oust Powell” Wall Street Journal, July 11, 2025
“The White House’s new line of attack against Powell” Axios, July 11, 2025
“Republicans Push Back on Treasury-Fed Double Duty for Bessent” Semafor, July 8, 2025
“The Growing Push to Rein in Bank Supervisors’ ‘Veil of Secrecy’” Capitol Account, June 16, 2025
“The Bonfire of the Banking Regulators?” Project Syndicate, June 6, 2025
“Fed Independence: How Concerning?” Goldman Sachs Top of Mind, May 15, 2025
“Fired Officials Go Before D.C. Circuit Judges Who Backed Trump” Bloomberg Law, May 15, 2025
“Clashes Between the President and the Fed Are Nothing New” RealClearMarkets, May 1, 2025
“How Trump’s first 100 days changed the game in Washington” American Banker, April 29, 2025
“Why Fed Independence Is Critical” Knowledge at Wharton, April 29, 2025
“Presidents have long criticized the Fed. It usually backfires.” Washington Post, April 26, 2025
“Uncommon Bonds: Federal Reserve Independence” Semafor, April 26, 2025
“Top Trump Aides Urged President to Tone Down Attacks on Jerome Powell” Washington Post, April 23, 2025
“Trump Is Laying the Groundwork to Blame Powell for Any Downturn” Wall Street Journal, April 22, 2025
“Can Trump Fire Powell? Congress May Be Powerless to Stop Him” MarketWatch, April 22, 2025
“Is Trump threatening the Fed’s independence with attacks on Fed Chair Jerome Powell?” NPR, April 18, 2025
“Trump’s Criticism of Fed Chief Powell Has Long History but Latest Could Be Most Damaging” USA Today, April 18, 2025
“Treasury’s Play for Regulatory Control Puts It on Collision Course with Fed” Semafor, March 24, 2025
“Fed, Breaking with Practice, Has Yet to Report 2024 Financial Results” Reuters, March 13, 2025
“Small Inflation Uptick Leaves Fed Waiting for Signal to Move” American Banker, February 28, 2025
“Trump push to control independent regulators could hit the Fed” Semafor, February 25, 2025
“The Fed and Inflation: What’s Next?” Knowledge at Wharton, February 25, 2025
“Trump order gives banks a regulatory break, but at what cost?” American Banker, February 19, 2025
“Trump order tightens White House grip on Fed, SEC” Banking Dive, February 19, 2025
“Trump seeks greater control of independent regulators with his new executive order” Associated Press, February 19, 2025
“Trump Picks the Most Public Moments to Knock Luminaries” Banking Dive, January 30, 2025
“The Federal Reserve Ignored Trump’s Interest Rate Demands—and He’s Not Taking It Well” CNN, January 30, 2025
“Trump Lashes Out at a Favorite Nemesis: The Federal Reserve” Wall Street Journal, January 29, 2025
“FDIC Exits Network for Greening Financial System” American Banker, January 21, 2025
“Michael Barr, the Fed’s top regulator, to step down” American Banker, January 6, 2025
2024
“Politics, history, hubris: why agency consolidation isn’t easy” American Banker, December 18, 2024
“Where the Fed’s Michael Barr goes from here” American Banker, December 16, 2024
“Why Trump and the Federal Reserve could clash in the coming years” Associated Press, December 5, 2024
“Three cheers for normal bank failure” Brookings, November 26, 2024
“How are borrowers reacting to the Federal Reserve rate cuts?” USA Today, November 25, 2024
“What Trump Means for Small Business Borrowing” Inc., November 23, 2024
“Jerome Powell was prepared to fight for his job in court when Trump mulled firing the Fed chief in 2018, report says” Fortune, November 11, 2024
“Donald Trump thinks he should be able to influence Fed rates—here’s what history and the law say” Fortune, November 5, 2024
“Trump advisers discussed demoting a Fed official — and it’s not Powell” Washington Post, October 21, 2024
“Could the Lone Fed Dissenter Be in Line for a Powerful Role if Trump Wins?” New York Times, October 15, 2024
“Payment apps are soaring in popularity. Here’s what you need to know.” Washington Post, October 6, 2024
“Petition to bank regulators for faster payment processing” Brookings, October 2, 2024
“What to know about the Fed’s interest rate cuts” Penn Today, September 25, 2024
“The post-financial crisis era of humility is over” The Banker, September 17, 2024
“The Fed Chair Thinks Wall Street Should Have Veto Power over Financial Regulations. That’s a Mistake.” The Sling, August 15, 2024
“Why does the Federal Reserve maintain its independence?” Marketplace, August 9, 2024
“Political bluster threatens the Fed’s ‘vibes-based’ independence” American Banker, August 8, 2024
“Why does the Federal Reserve have blackout periods?” Marketplace, July 19, 2024
“How Trump could (and couldn’t) reshape the Fed” Axios, July 18, 2024
“What Trump Can and Can’t Do to Sway the Fed” Bloomberg, June 19, 2024
“Will the Fed’s master account victories stand the test of time?” American Banker, April 4, 2024
“Are Global Capital Rules Possible?” Project Syndicate, March 29, 2024
“Jerome Powell’s Fingerprints Are on the Next Banking Crisis” Jacobin, March 27, 2024
“Emergency Fed bank effort ends lending, as eyes turn to discount window” Reuters, March 11, 2024
“How independent are Fed officials from the politicians who appoint them?” Marketplace, March 6, 2024
“The Capital One-Discover deal raises thorny issues for Washington” American Banker, February 20, 2024
2023
“Basel III endgame: 5 things to watch in 2024” American Banker, December 25, 2023
“Fed fight” Politico Morning Money, November 15, 2023
“Michelle Bowman and the Fed’s history of dissent” American Banker, November 14, 2023
“Fed has yet to face final reckoning two years after trading scandal” Reuters, October 4, 2023
“Why central banks operate with a pack mentality” Marketplace, June 22, 2023
“After the Reports and Recriminations, What Is Left to Learn About the 2023 Bank Failures?” GARP Risk Intelligence, June 16, 2023
“How can regional banks manage the industry’s troubles?” Marketplace, May 4, 2023
“What does the Silicon Valley Bank collapse mean for a possible recession?” Technical.ly, April 6, 2023
“Fallout from the Banking Crisis: What’s Ahead?” Knowledge at Wharton, April 4, 2023
“After SVB collapse, some lawmakers weigh having regulators watch TikTok and Twitter for bank panics” NBC News, March 29, 2023
“The Fed must decide whether to press ahead with raising interest rates” NPR Morning Edition, March 22, 2023
“Push to Insure Big Deposits Percolates on Capitol Hill” New York Times, March 21, 2023
“The Fed’s Silicon Valley Bank Cover-Up Won’t Work” The American Prospect, March 21, 2023
“Wharton’s Peter Conti-Brown: The Fed mishandled SVB about 7 different ways” CNBC, March 21, 2023
“Silicon Valley Bank’s collapse: What happens when mid-sized banks get too big to fail” WBUR On Point, March 20, 2023
“The Regulatory Breakdown Behind the Collapse of Silicon Valley Bank” The New Yorker, March 19, 2023
“Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems” New York Times, March 19, 2023
“‘The Fed has mishandled this about 7 different ways’: SVB rescue sparks backlash” Politico, March 17, 2023
“After Silicon Valley Bank collapse, Washington asks: Is it to blame?” Washington Post, March 17, 2023
“FACT FOCUS: Claims blame ‘woke’ policies on bank’s demise” Associated Press, March 16, 2023
“Global markets tumble as Credit Suisse acknowledges signs of instability” PBS NewsHour, March 15, 2023
“Did regulation fail in the recent bank failures?” Marketplace, March 14, 2023
“Are Taxpayers on the Hook for SVB and Signature Bank Deposits?” Wall Street Journal, March 14, 2023
“‘The Spirit of Dodd-Frank Is Dead.’ Regulators Swore Off Bailouts, Until They Didn’t.” MarketWatch, March 13, 2023
“Fed’s Barr to lead review of supervision practices for Silicon Valley Bank” American Banker, March 13, 2023
“The Fed’s Lael Brainard is leaving monetary policy for fiscal policy” Marketplace, February 14, 2023
2022
“The Do’s and Don’ts of Regulating Crypto” CNBC, December 21, 2022
“Brookings Panelists Debate the Future of Crypto” Broadband Breakfast, December 20, 2022
“The Federal Reserve has a credibility problem” Washington Post, December 14, 2022
“A year after trading scandal, Fed is again under ethics spotlight” Reuters, November 1, 2022
“Is Recession Likely, Unlikely, Or Already Here? A Wharton Financial Historian Weighs In” Poets&Quants, October 31, 2022
“Fed’s Bullard Signals Rethink on Participation in Private Events” Bloomberg, October 20, 2022
“Bullard’s Event With Citi Exposes Weak Spots in Fed Ethics Rules” Bloomberg, October 20, 2022
“Toomey, other GOP senators blast KC Fed over master account silence” Banking Dive, June 30, 2022
“The broad implications of Pat Toomey’s standoff with K.C. Fed’s president” American Banker, June 21, 2022
“The Fed can’t seem to get a step ahead” Banking Dive, February 11, 2022
“For the first time, men are the minority on Fed bank boards” Reuters, January 12, 2022
“A look at the Federal Reserve’s historical lack of diversity” Marketplace, January 5, 2022
2021
“Biden seeks to keep Powell in place, elevate Brainard at Federal Reserve” Marketplace, November 22, 2021
“Fed restricts officials’ stock trading with new rules amid scandal” Banking Dive, October 22, 2021
“Fed Curbs Trading by Top Officials as Powell Does Damage Control” Bloomberg, October 21, 2021
“Fed overhauls trading rules for senior officials amid scrutiny of policymakers’ past behavior” Washington Post, October 21, 2021
“Fed announces tighter rules to restrict trading by top officials” MarketWatch, October 21, 2021
“Will Fed use regional openings to diversify its leadership?” Marketplace, October 7, 2021
“A timeline of the Federal Reserve’s trading scandal” Yahoo Finance, September 30, 2021
“Biden’s stalled legislative push threatens to derail regulatory agenda, experts warn” MarketWatch, September 30, 2021
“Congress should evaluate ethics framework for Fed stock trading: Associate Professor” Yahoo Finance, September 29, 2021
“Powell Review of Investor Rules for Officials Just Seen as Start” Bloomberg, September 16, 2021
“Fed Officials’ Trading Draws Outcry, and Fuels Calls for Accountability” New York Times, September 9, 2021
“Two Regional Fed Chiefs to Sell Stocks to Avoid Any Appearance of Conflict of Interest” Wall Street Journal, September 9, 2021
“It’s getting harder to keep the Fed out of politics” American Banker, August 25, 2021
“The Fed walks a tightrope: Stimulate the economy without causing a bubble” Marketplace, June 28, 2021
“Fed leaders agree: Economics has a racial-disparity problem” Associated Press, April 13, 2021
Reviews of Private Finance, Public Power
“The Struggle for the Fed” (Trevor Jackson) The New York Review of Books, February 26, 2026
“Book Review: Private Finance, Public Power” Regulation (Cato Institute), Spring 2026
“The Discretion Dilemma” (Fabio Natalucci) Finance & Development (IMF), December 2025
“The Politics of Bank Supervision: From Eccles to Bessent” (Kathryn Judge) American Affairs, Winter 2025
“Private Finance, Public Power: A History of Bank Supervision in America” (Kilian Rieder) Business Economics, vol. 61, no. 3, 2025
Yale Journal on Regulation, Notice & Comment symposium: “Bank Supervision and the Lost Century of Federal Administrative Law” (Nicholas R. Parrillo), September 16, 2025; “Historicizing the Administrative State: The View from the Comptroller of the Currency” (Naomi R. Lamoreaux), September 19, 2025; “Futurizing Bank Supervision” (Yesha Yadav), September 24, 2025
“What We Are Reading Today: Private Finance, Public Power” Arab News, June 27, 2025
“Bank supervision’s cyclical history” (Steven Kelly) American Banker, February 28, 2025