Why does Fed Chair Kevin Warsh seem like he is perpetually running for student body president? On whether his pure sizzle, no steak approach to Fed communications makes his goal to set markets free harder, not easier, plus more thoughts in today’s PCB central. Link: open.substack.com/pub/petercon...

PCB Links: Kevin Warsh had a rough day

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

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It's peak Fed Task Force, but one of these things is not like the other. Plus thoughts on Open USD, Better Markets, the institution of the Latter-day Saint YW Camp and the need for mentors, and my review of Haberman & Swan's Regime Change. Take a look! open.substack.com/pub/petercon...

PCB Links: The Fed has reached peak task force

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

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The more I think about it, the less I like Trump v. Cook, even as I celebrate the (narrow) outcome that Governor Cook will retain her seat pending this litigation. Here is why and what the Supreme Court should have done instead. open.substack.com/pub/petercon...

What the Supreme Court should have done in Trump v. Cook

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

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My analysis of the Court's blockbuster -- and surprisingly troubling -- opinion in Trump v. Cook. open.substack.com/pub/petercon...

Lisa Cook prevails...barely

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

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Are we ever going to get this cursed SCOTUS opinion?

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Twenty thoughts in no particular order

Downloading with my readers about what is on my mind

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One of the most interesting questions each of us faces is who are "my people." The problem? Sometimes we define those communities so narrowly that we reduce or eliminate opportunities to express the full dynamism of our lives. /1

Republicans of conscience should be (and, from what I am hearing, indeed are) deeply troubled by the appointment of Bill Pulte as Acting Director of National Intelligence. /1

I loved Belle Burden’s new memoir Strangers, despite the brewing pushback. On this plus some thoughts on Warsh’s new commitments to opacity, supervisory risk, and why two flats on my last ride can’t get me down, check out the latest at PCB Central. open.substack.com/pub/petercon...

Monday Links: The Perils of Fed Opacity

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

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With Fed Chair Jay Powell reaching the end of his eight-year leadership, it’s time to assess his legacy. I take up the challenge in today’s PCB Central — the good, the bad, the ugly. Link below.

Cohosted the podcast with @petercontibrown.bsky.social this week! We were live at the 2026 @Wharton FinReg conference and discussed how 2008 reshaped FinReg, bank supervision debates, AI risk to fin stability, the growing overlap between Finreg & monetary policy, and more! youtu.be/Goq7M0aQ9dI?...

Peter Conti-Brown and David Beckworth on All Things Financial Regulation | Macro Musings

YouTube video by Macro Musings with David Beckworth

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Q&A time at PCB Central I talk about the Fed’s balance sheet, what I would change about bank supervision, whether Kevin Warsh is going to survive the Trump gauntlet, why Latter-day Saints don’t have godparents, whether I actually truly love triathlon training, and how I use AI. Link below!

We are closer to the conditions for stagflation than at any time since the term became ubiquitous in the 1970s. Plus thoughts on bank liquidity, crypto, teaching business ethics to executives, and my affection for toe warmers. Take a look! open.substack.com/pub/petercon...

Monday Links: Will the Iran War Lead to Stagflation?

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

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My thoughts on Bessent's recent critiques of Powell, the proposed 10% cap on credit card rates, the Trump lawsuit against JPMC, whether I would support a government shutdown over the murder of Alex Pretti, and more. Take a look petercontibrown.substack.com/p/monday-lin...

Monday Links: The Pultification of Scott Bessent?

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

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What just happened at the Supreme Court? It was a fascinating and strange argument about Fed independence, writs of mandamus, for cause removal, and much else. My deep dive at the link below.

What does MLK Day mean to me? A legacy, but nothing promised. Also why Jay Powell is the savviest politician in America, the long-term risks of all this stimulus, and why the lightest titanium bike in production looks delicious to me.

I have ten questions — and ten answers — about the Trump Administration’s attack on the Federal Reserve. Link below

This week I had a bike ride that changed me. And I fell short as a dad. This week’s personal post connects these experiences in a quest to live deliberately. Take a look.

Today’s personal post is about a mentor whose deft correction of me, a cocky kid with authority issues, taught me a lot about parenting and leadership. Take a look!

What are the FHLBs good for? Also, resilience in supervision, Flowers for Algernon, and why Train Dreams is the best movie of the 2020s. open.substack.com/pub/petercon...

Monday Links: What are the FHLBs good for?

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

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A special multimedia post for today, the top 10 moments of Christmas 2025 featuring some original music, plenty of pictures, and a mandolin and classical guitar performance of O Come, O Come Emanuel, + some 6-year-old blue humored Mad Libs Take a look! petercontibrown.substack.com/p/the-conti-...

The Conti-Brown Christmas Top 10

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

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My father, Charlie Brown, lived a short and troubled life, leaving pain and trauma in his wake. In today’s Christmas Eve post, I describe coming to terms with his legacy.

Monday links on Scott Bessent’s changes to the FSOC, debanking good and bad, biking through wind chill, and a recent narrated podcast for Faith Matters. Take a look: petercontibrown.substack.com/p/monday-lin...

Monday Links: Not all debanking is created equal

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

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In 2025 I changed my party affiliation from Democrat to independent. Today’s post explains why open.substack.com/pub/petercon...

Declarations of Independence

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

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As the Fed chair sweepstakes enters its final days, the question for those of us who want to see a narrow conception of Fed independence survive is this: What do the Kevins believe about the macroeconomy? Are they part of the Magic Beans Coalition? See below for the context and how we can know.

What should we make of Miran's "inflation outlook"? I think the only real way to describe his views is to call it the Magic Beans Coalition in monetary policy. More on this and much else at the link below.

This time of year I am thinking about goals and resolutions. Today’s personal post is about what I hope to accomplish in 2026 after a marvelous 2025. Link below.

We’re heading into a potentially wild #FOMC meeting, plus thoughts on a recent Q&A on supervision with Randy Quarles, the digital euro, the scandal of Larry Summers, and Radiohead in Berlin. Take a look!👇

My Newsletter has been a source of great joy and engagement over the past year. Today I describe some changes and reflections as I seek to ramp it up. I hope you’ll join me for the ride – we’re going to start cooking with gas. Link 👇

What should we make of Sec Bessent’s proposal for a residency requirement for Reserve Bank Presidents? I’m sympathetic to the idea, but very skeptical of it in the present context. More below.