News in Systemic Risk: Thursday, April 17, 2025 (9:45 a.m. ET) April 17, 2025 Volcker’s Lessons for Restoring Dented US Credibility (Christine Harper, Bloomberg) How a Supreme Court Ruling Could Weaken Fed Independence, Shake Markets (Greg Ip; Wall Street Journal) Fed ‘absolutely’ prepared to stabilise markets, says Collins (Central Banking) Amid tariff turmoil, banks warned not to fudge IFRS 9 overlays (Philip Alexander; Central Banking) Low money market volatility benefits monetary policy transmission (Fédéric Holm-Hadulla, Sebastiaan Pool; European Central Bank) Related Stories Yale Program on Financial Stability Presents Financial Crisis-Fighting Playbook Fed Official Michael Barr Provides an Inside Look at Crisis Response High School Students Visit Yale SOM for Introduction to Careers in Business and Economics