News in Systemic Risk: Wednesday, September 3, 2025 (9:45 a.m. ET) September 3, 2025 Cutting through the noise: exercising good judgment in a world of change (Christine Lagarde; ECB) Economic Capital: A New Measure of Bank Solvency (Beverly Hirtle and Matthew Plosser; FRBNY) Tracking Trump’s actions on tariffs, the environment, immigration, and more (Chase Parry and David Wessel; The Brookings Institution) The new currency war: The US-China digital rivalry as a test of monetary discipline (Eduardo Levy Yeyati and Sebastian Katz; VoxEU) 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