The New York Sun

Join
Columnists

It’s the Fed That’s a Risk to Financial Stability

Central bankers whistle ‘Dixie’ as mark-to-market losses dramatically shrink the banking system’s economic capital.

Anna Moneymaker/Getty Images
The Federal Reserve Board's vice chair for supervision, Michael S. Barr, on May 18, 2023 at Washington, D.C. Anna Moneymaker/Getty Images
ALEX J. POLLOCK
ALEX J. POLLOCK

Whistling a happy tune, the Federal Reserve vice chairman for supervision, Michael Barr, recently testified to Congress that “overall, the banking system remains sound and resilient.” A more candid view of the risks would be less sanguine.  

Have an account? Log In

To continue reading, please select:

Limited Access

Enter your email to read for FREE

Get 1 FREE article

Continue with
or
Unlimited Access

Join the Sun for a PENNY A DAY

$0.01/day for 60 days

Cancel anytime

100% ad free experience

Unlimited article and commenting access

Full annual dues ($120) billed after 60 days

View all membership options
By continuing you agree to our
Privacy Policy and Terms of Service.
ALEX J. POLLOCK
ALEX J. POLLOCK

Mr. Pollock is a Senior Fellow at the Mises Institute, the author of 'Finance and Philosophy--Why We’re Always Surprised' and co-author of 'Surprised Again! The Covid Crisis and the New Market Bubble.'

Advertisement
The New York Sun

Sections

NationalForeignPoliticsArts+EconomyEducationJusticeOpinionWatchCrossword

More

MembershipBecome a FounderAdvertiseEventsNewslettersShopSubmissionsContactLegalAbout

© 2025 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

or
By continuing you agree to our Privacy Policy and Terms of Use