Horsham, PA (February 26, 2020) – The Sharp Financial Group (“Sharp”), an integrated financial management firm providing unified business advisory, accounting, tax and wealth management, announced that Randal K. Quarles, Vice Chair for Supervision and member of the Board of Governors of the Federal Reserve System, presented recently to Money Marketeers of New York University (NYU) members and guests in New York City.
At the event, Vice Chair Quarles discussed monetary policy and economic outlook throughout his presentation. Specifically, he spoke about the need to continue to maintain the sanctity of the banking system to ensure stability remains the cornerstone of the entire economy (both domestic and international). To that end, efforts that have been enacted by both the Federal Reserve System as well as lawmakers have created a solid liquidity foundation for the smooth function of the money markets.
While the current structure is effective, the Vice Chair pointed out that it does not mean that iterations and changes can’t be made to realize improvements. For instance, he argued that policymakers should consider changes that will make it easier to allow banks to treat U.S. treasury holdings as appropriate reserves to meet liquidity requirements. In doing so, he noted that he was not arguing for any decrease in liquidity buffers, but rather a reconstitution of existing assets.
“We were honored to have Vice Chair Quarles present to us,” said Alain Van Loo, Chief Investment Officer at The Sharp Financial Group. “He provided the audience with insights regarding the size of the Fed balance sheet along with his current assessment that interest rates are at an appropriate level with respect to current economic growth. Those insights, in particular, made the evening an intellectually stimulating event.”
Vice Chair Quarles took office as a member of the Board of Governors of the Federal Reserve System. His term as Vice Chair for Supervision ends on October 13, 2021. Mr. Quarles is also chair of the Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system.
Money Marketeers of NYU is a forum for engaging, meaningful and substantive dialogue with U.S. policymakers, senior Federal Reserve officials, and other distinguished speakers whose words and actions have the potential to influence the global financial markets.
Since 1946, Money Marketeers has counted among its membership distinguished financial industry professionals whose common goal is to foster greater understanding of finance and economics among senior practitioners and developing professionals and to establish greater dialogue between the public and private sector on those substantive issues that move markets. In its quest to provide greater educational opportunities to aspiring financial professionals, Money Marketeers provides scholarships to deserving NYU Stern School of Business students.
What’s Next?
On April 14, 2020, Money Marketeers of NYU will welcome Philip R. Lane, Member of the ECB's Executive Board, as a distinguished speaker for its next event at 3 West Club in New York City at 5:30pm. For more information, please visit: https://moneymarketeers.org/upcoming-events.
About The Sharp Financial Group
The Sharp Financial Group (“Sharp”) is an integrated financial management firm that has unified business advisory, accounting and tax, wealth management, family office, and capital solutions services in a way that helps business owners and their families achieve extraordinary things. By recognizing the complex needs of entrepreneurs and business owners, Sharp has built a reputation for providing a holistic combination of highly effective services for clients throughout the mid-Atlantic region and beyond. Founded in 1993, Sharp is headquartered in the Philadelphia area, with offices in New York City and New Jersey. For more information, contact The Sharp Financial Group at (215) 659-2130 or visit www.SharpLLC.com.
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Disclosures
Sharp Wealth Advisory, LLC d/b/a The Sharp Financial Group (“Sharp Financial”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Sharp Wealth Advisory and its representatives are properly licensed or exempt from licensure.
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
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