Financial Administration in the Trump Era

The Federal Reserve will conclude its last FOMC meeting of the year in two weeks (December 14, 2016). This particular meeting will include the Committee’s release of its Summary of Economic Projections and a press conference with Federal Reserve Board Chair Janet...

Broken Products

Any exchange-traded fund (“ETF”) or exchange-traded note (“ETN”) without a fully functional creation and redemption mechanism is a broken product. ETFs and ETNs are unique securities. The primary feature that differentiates them from other investment vehicles is the...