John Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, was part of a panel discussion on how the authority of the Federal Reserve System will change under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Taylor discussed the Fed’s dual mandate. David Skeel, a member of the resolution project, which is under the auspices of the Working Group on Economic Policy at Hoover, writes about Banking on the FDIC (Resolution Authority I) and Bailouts, Bankruptcy, or Better? (Resolution Authority II) in his recent book The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences. Defining Ideas published an article by Charles Calomiris, a member of the Property Rights, Freedom, and Prosperity Task Force, the Henry Kaufman Professor of Financial Institutions at the Columbia University Graduate School of Business, and a professor at Columbia’s School of International and Public Affairs, titled “Real Prudential Regulatory Reform vs. Dodd-Frank.” Calomiris writes that Dodd-Frank does not address the causes of our financial crisis and that we should consider reforms that do.
