Fed’s Cook is concerned about non-banks and real estate prices

Hedge funds could rapidly pull out of Treasury cash futures market

Lisa Cook
Lisa Cook
US Senate Banking Committee

Federal Reserve governor Lisa Cook said non-banks and real estate prices pose potential risks to financial stability, in a speech on November 6.

Speaking at Duke University’s economics department, Cook said non-banks and hedge funds in particular are highly leveraged, and she warned regulators must stay vigilant about the risks posed by their debt obligations.

Cook said non-banks like money market funds and open-ended funds may present liquidity risks similar to the bank runs earlier this year

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