Ricardo's threads | Nothing contributes so much to the prosperity and happiness of a country as high profits

Explosive New Book Argues Facebook Is a Global Engine of Harm and Corruption. Is Reform Possible?

03/24/2025 Ineteconomics Analysis

Sara Wynn-Williams, defying Facebook’s attempts to silence her, reveals the company’s toxic culture and global damage, exposing unethical practices and a profit-at-any-cost approach. The key question she leaves us with: How can this be changed?
Early in her chilling account of life as a Facebook executive, Sara Wynn-Williams drops an intriguing detail: Mark Zuckerberg’s favorite president. The young founder – still in his twenties at the time -- picks Andrew Jackson, because he “got stuff done.”

The expert’s edge? Bank lending specialization and informational advantages for credit risk assessment

03/24/2025 European Central Bank Central banks

We examine whether loan portfolio sectoral specialization provides informational advantages to banks, enabling better credit risk assessment. Using euro area credit register data, we compare probabilities of default assigned by specialized and non-specialized banks to the same borrowing firm several quarters before the borrower defaults. We find that banks specialized in the borrower’s sector are better in predicting future defaults. This is mostly driven by specialized banks actively raising probabilities of default earlier, not by higher probabilities of default when loans are issued.

Bank of England launches the 2025 Bank Capital Stress Test

03/24/2025 Bank of England Central banks

The Bank of England (the Bank) has today launched the 2025 Bank Capital Stress Test for the seven largest and most systemic UK banks and building societies.

Asset Purchase Facility: Gilt Sales – Market Notice 21 March 2025

03/21/2025 Bank of England Central banks

This Market Notice sets out the schedule for sales in Q2 2025 of gilts held in the Asset Purchase Facility (APF) for monetary policy purposes.

FEDS Paper: Beyond the Streetlight: Economic Measurement in the Division of Research and Statistics at the Federal Reserve

03/21/2025 Federal Reserve Central banks

Carol Corrado, Arthur Kennickell, and Tomaz CajnerThis paper was written for the academic conference held in celebration of the 100th anniversary of the Division of Research and Statistics (R&S) of the Federal Reserve Board. The work of the Federal Reserve turns strongly on empirical efforts to understand the structure and state of the economy, and R&S can be thought of as operating a large factory for discovering and developing data and analytical methods to provide evidence relevant to the mission of the Board.

Minutes of the London FXJSC Legal Sub-committee Meeting – 26 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Legal Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Minutes of the London FXJSC Operations Sub-committee Meeting – 20 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Operations Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Minutes of the London FXJSC Main Committee Meeting – 27 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC), which is a forum for discussion of the wholesale foreign exchange market. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Bank Rate maintained at 4.5% - March 2025

03/20/2025 Bank of England Central banks

The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.

Who Controls the Future of Work?

03/19/2025 Ineteconomics Analysis

AI has the potential to fuel historic levels of wealth concentration, leaving workers behind while a handful of companies profit. Or we can choose policies that steer us toward shared prosperity. The future is still up to us.

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