Simon Johnson and Corey Klemmer

SIMON JOHNSON, A 2024 NOBEL LAUREATE IN ECONOMICS AND A FORMER CHIEF ECONOMIST AT THE INTERNATIONAL MONETARY FUND, IS A PROFESSOR AT THE MIT SLOAN SCHOOL OF MANAGEMENT AND THE CO-AUTHOR (WITH DARON ACEMOGLU) OF POWER AND PROGRESS: OUR THOUSAND-YEAR STRUGGLE OVER TECHNOLOGY AND PROSPERITY. COREY KLEMMER IS A FORMER POLICY DIRECTOR AT THE SECURITIES AND EXCHANGE COMMISSION.

The impending reduction in equity requirements resulting from a deregulatory push in the US will result in substantial additional risk to America's financial stability, say the writers.

The Federal Reserve’s other problem