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We promote financial stability by supervising and regulating financial institutions, as well as studying their role in the economy.

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Podcast
Aug. 6, 2025

Sergio Correia discusses his research on the causes of bank failures and his use of a novel set of historical data to evaluate two different but intertwined potential causes — insolvency of the bank and a run on deposits. Correia recently joined the Federal Reserve Bank of Richmond as a senior economist.

Article
Third Quarter 2025

Economist Carmen Reinhart discusses the twin financial and currency crises, the future of the dollar, sovereign debt, and more.