Michael Faulkender, Dean’s Professor of Finance at the Smith School, has been nominated as U.S. Deputy Secretary of the Treasury. A former Treasury economist, he played a pivotal role in shaping COVID-19 relief efforts and is a leading voice in financial policy research. His nomination awaits Senate confirmation.

Three Smith seniors were honored as Philip Merrill Presidential Scholars, recognizing mentorship’s impact. At a Nov. 1 ceremony, Abigail Manga, Adelina Seck, and Grayson Vintz celebrated their achievements alongside K-12 and Smith mentors, highlighting the program’s legacy of excellence.

Risk decisions often falter due to cognitive biases, underdeveloped decision-making processes, and overreliance on models. Clifford Rossi argues that robust frameworks and balanced decision structures are essential to navigate uncertainty effectively and mitigate poor risk outcomes.

The Center for Global Business hosted Raghuram Rajan in a discussion on India's economic growth, human capital needs, and innovation for long-term prosperity. Rajan emphasized job creation, skilled services, and democracy’s role in fostering creativity and economic progress.

The Smith School's Enterprise Risk Consortium introduces two mortgage risk indexes: the Mortgage Credit Risk Index (MCRI) and Mortgage Redtail Risk Index (MRRI). MCRI measures 3-5-year default risk on GSE-eligible loans, while MRRI identifies loans with high-risk factors, aiding lenders, investors, and regulators in assessing mortgage credit risk and adverse selection.

Clifford Rossi argues that the homeowners insurance market is unraveling due to rising natural disaster risks. He proposes a government-sponsored entity to centralize hazard insurance, improving risk management and financial stability.

The QUEST Honors Program at the University of Maryland attracts top students from business, engineering, and science disciplines, offering a selective, dynamic learning experience. With a 48% rise in applications this year, QUEST fosters teamwork, innovation, and leadership through experiential projects and interdisciplinary collaboration.

Josh Harris, managing partner of the Washington Commanders, shared leadership insights during the CEO at Smith event. He highlighted the importance of hiring top talent, controlling one’s narrative, taking calculated risks, and learning from failures to build lasting success.

Google faces major antitrust cases for monopolizing digital advertising and search. Research Professor Kislaya Prasad suggests that ending exclusive agreements could increase competition, while Associate Professor Bobby Zhou emphasizes breaking up business units like Google’s search could benefit competitors, advertisers, and consumers.