Illiquidity + Opacity = Insolvency: A Discussion with Gary Stern, Former President of the Minneapolis Fed
What's going on in private markets? As interest rates have gone up, public markets have been marked down much more severely than assets in the private market. Will the chickens come home to roost? And, if so, when?
Gary Stern was president and chief executive officer of the Federal Reserve Bank of Minneapolis from March 1985 to September 2009. Stern, a native of Wisconsin, joined the Federal Reserve Bank of Minneapolis in January 1982 as senior vice president and director of research. Before joining the Minneapolis Fed, Stern was a partner in a New York-based economic consulting firm. Stern's…
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