News in Systemic Risk: Thursday, May 22, 2025 (9:45 a.m. ET) May 22, 2025 OFR's MMF Monitor Shows Reduced Federal Reserve ON RRP Use (Dagmar Chiella and Derrek Grunfelder-McCrank; Office of Financial Research) A mooted fix for the Treasury market may actually increase systemic risk (Wenxin Du; Financial Times) Maurice Obstfeld on the trade war’s damage to the monetary system (Christopher Jeffery; Central Banking) Related Stories Student Consultants Present Final Deliverables to New Haven Nonprofits at Creative Arts Workshop Venturing to Learn at the Yale Black Venture Summit Matcha Scrubs Officially Launches on June 19