About

“Understand the principles, Understand the future.”

 

Stephen G. Cecchetti is Rosen Family Chair in International Finance at the Brandeis International Business School, Research Associate at the NBER, Research Fellow at the CEPR, and Vice Chair of the Advisory Scientific Committee of the European Systemic Risk Board. From 2008 to 2013, Cecchetti served as Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements in Basel, Switzerland. From 1997 to 1999 he was Director of Research at the Federal Reserve Bank of New York. In addition, he has been on the faculty of The Ohio State University and the New York University Leonard N. Stern School of Business. In 2016, he received an Honorary Doctorate in Economics from the University of Basel.

 
 

 
 

Kermit L. Schoenholtz is Clinical Professor Emeritus in the Economics Department of NYU Stern School of Business, where he taught courses on money and banking and macroeconomics and directed the Stern Center for Global Economy and Business. Prior to his academic career, Schoenholtz had served as the global chief economist at Citigroup, and as the chief economist at Salomon Brothers and at Salomon Smith Barney. Schoenholtz is a member of the Council of Foreign Relations. Previously, he was a panelist of the U.S. Monetary Policy Forum and served on the Financial Research Advisory Committee of the U.S. Treasury’s Office of Financial Research. Schoenholtz is the co-author of a popular textbook on money, banking, and financial markets.

 

History

This is the site where you can learn about finance and economics. We provide commentary on events in the news and on questions of more lasting interest. Because the financial system is constantly evolving, our analysis is informed by a set of core principles: understand the principles, understand the future. The opening excerpts of our three most recent posts appear on the homepage. For prior posts, click on the Commentary link in the navigation bar.

The site also provides material related to our textbook, Money, Banking and Financial Markets, 2024 release. The Five Core Principles on which the book is based are highlighted here. In addition, Cecchetti and Schoenholtz systematically integrates the use of economic and financial data from FRED, the online database provided by the Federal Reserve Bank of St. Louis.

Steve Cecchetti and Kim Schoenholtz