Reflections on GIC’s 50th Anniversary
A personal reflection after the 25-year anniversary of a gathering in Maine (now a GIC Event) and 50 Years of the Global Interdependence Center, more than half of them putting up with me as a…
Evolving Private Credit
CCB Fellow, Thomas Hoenig examines rapid growth, expanding leverage, and deeper financial linkages changing the industry’s risk profile. In recent months much has been written regarding the rapid growth of private credit (PC) and related…
The Supply Shocks We’re Choosing
What Kevin Warsh is about to inherit, and why the conversation in Washington is the wrong one By Patrick T. Harker In March of 2021, a container ship got wedged sideways in the Suez Canal…
Stag vs Flation
Stag vs. Flation Michael Drury, GIC Board Member and Chief Economist of McVean Trading March 27, 2026 President Trump has extended the pause on attacking Iran’s energy infrastructure until April 6th – the day after…
The Fed, the Bond Market, and Why Independence Matters
I spent part of yesterday listening to former Richmond Fed President Jeff Lacker speak about Federal Reserve independence at the Global Interdependence Center’s Central Banking Series: Opportunities and Challenges in a Dynamic Economic Landscape in Nassau, Bahamas…
Every Fed Chair Has a Plan Until…
Every Fed Chair Has a Plan Until… February 11, 2026 Kevin Warsh’s nomination as Federal Reserve Chair represents a potential regime change in monetary policy. His philosophy marks a dramatic shift from the current Fed…
The Dollar Isn’t Losing Its Throne. It’s Getting New Plumbing
I just got back from the Global Interdependence Center conference on “The U.S. Dollar and Continued Exceptionalism.” One of the most practical—and frankly misunderstood—sessions came from Christopher Waller, a sitting Federal Reserve Governor. This wasn’t a crypto pep rally. It…
Why the AI Revolution Needs Tinkerers, Not Just Geniuses
Why the AI Revolution Needs Tinkerers, Not Just Geniuses Patrick T. Harker, Rowan Distinguished Professor at Wharton | Former Philadelphia Fed President | Monetary, fiscal, and public policy expert serving as Director of Academic Engagement…
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