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Justin Wolfers , professor of public policy and economics at the University of Michigan, joins the Investopedia Express this week. Justin says the economy is in much better shape than most people think, and believes the Fed can actually hike interest rates while putting out the contagion around banks. Plus, big tech is back in the driver’s seat as investors return to their old favorites in search of safety and the prospect for a pause in rate hikes.

Meet Justin Wolfers

Justin Wolfers is a professor of public policy and economics at the University of Michigan and a visiting professor of economics at the University of Sydney. He is also a research associate with the National Bureau of Economic Research (NBER) ; and a non-resident senior fellow with the Brookings Institution and the Peterson Institute for International Economics.

He was previously a visiting professor at Princeton, an associate professor at Wharton, an assistant professor at Stanford Graduate School of Business, and an economist with the Reserve Bank of Australia. He is also a past editor of the Brookings Papers on Economic Activity, and was a member of the Congressional Budget Office Panel of Economic Advisers.

Justin was recently named by the International Monetary Fund (IMF) as one of the “25 economists under 45 shaping the way we think about the global economy.” Wolfers’ research focuses on labor economics, macroeconomics, political economy, law and economics, social policy and behavioral economics. Beyond research, he is a contributing columnist for the New York Times , appears frequently on TV, radio and in print. He is also a popular teacher, with many teaching awards to his name, and an author of a leading introductory economics textbook.

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Term of the Week: Liquidity Coverage Ratio

This week’s term comes to us from Lindsey Morrison, who wrote in suggesting ‘ liquidity coverage ratio ‘ this week, and we love that term given all the concerns about liquidity in our nation’s banks.

According to our favorite website, the liquidity coverage ratio refers to the proportion of highly liquid assets held by financial institutions, to ensure their ongoing ability to meet short-term obligations. This ratio is essentially a generic stress test that aims to anticipate market-wide shocks and make sure that financial institutions possess suitable capital preservation to ride out any short-term liquidity disruptions that may plague the market.

The liquidity coverage ratio was a key outcome of the Basel Accord from back in 2010, which is a series of regulations developed by the Basel Committee on Banking Supervision (BCBS) . The BCBS is a group of 45 representatives from major global financial centers.

One of the goals of the BCBS was to mandate banks to hold a specific level of highly liquid assets and maintain certain levels of fiscal solvency to discourage them from lending high levels of short-term debt. As a result, banks are required to hold an amount of high-quality liquid assets that is enough to fund cash outflows for 30 days.

High-quality liquid assets include only those with a high potential to be converted easily and quickly into cash. The three categories of liquid assets with decreasing levels of quality are level 1, level 2A, and level 2B. Read more about them on Investopedia.com, because those assets are under the microscope right now as investors, regulators, and customers want to know just how healthy bank liquidity ratios are at the moment.

Great suggestion, Lindsey. We’re going to be sending you some of our finest socks to keep you smart this spring!

Links for Show Notes

• Justin Wolfers: University of Michigan | Gerald R. Ford School of Public Policy
• Justin Wolfers on Twitter (@JustinWolfers)
• UBS to Buy Credit Suisse in $3.2 Billion All-Stock Deal
• 11 Banks to Make Uninsured Deposits Totaling $30 Billion Into First Republic Bank
• Federal Reserve Board Announces Additional Funding to U.S. Depository Institutions
• What Does the Securities Investor Protection Corporation (SIPC) Protect?
• Liquidity Coverage Ratio (LCR): Definition and How to Calculate
• Basel Accords: Purpose, Pillars, History, and Member Countries
• The Obama White House: Weekly Presidential Address for March 20, 2010 (YouTube)

X-rated pictures and ­videos of scores of stars may be leaked online in the “biggest ever” celebrity cyber attack.

Online crooks are boasting they have stolen enough images and raunchy clips to satisfy sleazy customers for the next year.

The Daily Star has obtained a list of British celebrities targeted in lockdown.

READ MORE: Glam Russian wives scammed by Ukrainian hackers to send racy snaps and sensitive details

lt includes the UK’s best-known models, soap stars, reality TV judges and daytime telly presenters – as well as actresses, singers, rockers and even wives of major rock stars.

There are also lists of American, European and Asian stars whose stolen pictures are being shared on underground members’-

A source said the threat of fresh leaks will have Brit celebs “quaking” as many may have spent lockdown with partners sharing raunchy snaps and videos to pass the time.

The insider added: “Lockdown was a paradise for hackers. With everyone stuck at home and tied to their home internet addresses, it has made it easier than ever for cyber criminals to send malicious spyware through emails, viruses and software such as Zoom.

“This latest hack will be one of the largest celebrity leaks ever seen in Britain if it goes on public sites.”

The hackers have already released low-resolution images as “teasers”. It is not yet known if they intend to release the X-rated material on mainstream sites, or charge for views.

The hack will also spark fears the material may be used to attempt to blackmail celebrities.

Pop-up messages have appeared on two sites specialising in stolen celebs’ sex images and films, bragging “the hack to end all hacks” is coming.

We can reveal one message read: “We’ve been working hard and have enough celebs to keep you going for the next year.”

For the latest breaking news and stories from across the globe from the Daily Star, sign up for our newsletter by clicking here .

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• ‘Wall of spikes’ erected as fuming residents resort to extreme measures to stop parking
• Rare shark with blood dripping from jaw washes up in ‘totally abnormal’ incident
• AI recreates Jesus at the Last Supper, Cleopatra and even cave men – posing for selfies
• Woman raped teen boy, 13, after saying he ‘made her horny’ and fumed when he ‘cheated’

The best smart lights can completely transform your home. Whether you fancy a warm, cozy ambience for a quiet night in, task lighting to light up your hobbies or lights that change along with your favourite TV shows, movies or games, there are smart bulbs and smart light panels for every kind of illumination.

The best smart light systems can also save you energy and money. Because they use LEDs they use a fraction of the electricity and generate a fraction of the heat of their incandescent equivalents – and that means they last much longer too. And they save your own energy too, because you can usually control them with your voice via the best smart speakers or best smart displays , with other best smart home devices and of course, with your phone.

Smart lighting comes in all shapes and sizes, literally: in addition to smart bulbs there are lighting strips and geometric shapes, floor lamps and table lamps, downlighters and wall washers. If you can imagine it, there’s a smart light that can do it.

While the best known smart lights are probably Philips Hue, there are lots of other high quality brands making excellent and often more affordable smart lights and smart bulbs – so in addition to Hue you’ll find the likes of Eufy, TP-Link, LIFX and even IKEA. If anything there’s too much choice – and that’s why we’re here. We’ll help you find the right lights, the right smart lighting ecosystem and the right price too.

The best smart light 2023: tried and tested

There’s a very good reason why Philips Hue is the biggest name in the smart lighting scene: it’s without a doubt one of the greatest offerings to the market. The lights produce the most natural tones of any smart lighting we’ve used, the app is easy to use, and installation is a doddle.

There’s a wide range of different smart lighting too; from color (with 16 million shades) and white bulbs (both solid and ambient that offers a host of different hues) to side and ceiling lamps, outdoor lighting, and even Philips Hue lightstrips. We were also impressed the smart lights work with Alexa, Google Assistant, and HomeKit.

That said, while the newer version of Hue Bulbs have Bluetooth built-in so you don’t need a hub to set them up, the Hue Bridge ensures you can access all of the handy features such as geofences and the ability to customize when lights come on; for example at a set time or when something happens ie sunset or sunrise.

Read the full Philips Hue review

These Wi-Fi connected LED bulbs from Govee might not be as smart as the Nanoleaf Essential bulbs above. However, they do excel in one area: Alexa Integration.

They’re also slightly cheaper than Nanoleaf’s offering, making them ideal for anyone that wants an Alexa-compatible bulb on a budget. On test, the bulb was responsive when being controlled from the app, which we found simple to use.

However, at this price there are some compromises. There’s a limited selection of bulbs available and we found the bulb wasn’t as bright when displaying a color than when set to white or yellow. Despite its brightness rating of 800 lumens being on par with other, more expensive smart bulbs, the Govee seemed a little dim when displaying bold colors.  The bulbs were also fiddly to set up compared to other designs on the market.

Read our full Govee Wi-Fi LED Bulb review

The Nanoleaf Shapes take the concept of lighting and turn it base-over-apex. Using a collection of hexagonal and triangular panels, you create a dynamic shape on your wall (or ceiling, or both) that can shift through over 16 million different colors.

What’s more, the panels can glow solid colors or can transition at different speeds through colors to create a unique lighting effect in your home. On top of that, you can set the panels to react to touch or even music playing in your surroundings, putting you in the centre of your own music video.

The original set comes with nine panels, all of which are the same shape, but you have the option to add more and you can mix and match the different shapes. We admit these plastic panels don’t look particularly attractive when they’re not illuminated, so if you’re after a more stylish look at all times; Nanoleaf Elements in a version of the hexagonal panels that have a wood-like veneer on them. They’re also difficult to remove once mounted,

Don’t like the sound of hexagons and triangles? Nanoleaf Canvas are square-shaped light panels but they can’t be combined with Nanoleaf Shapes, unfortunately.

Read the full Nanoleaf Shapes review

Philips’ Signe Table Lamp isn’t just a normal lamp with a Hue smart bulb stuck inside, although it has all the easy setup and ease of use you’d expect from a Hue product.

It uses the same gradient technology as Hue’s lightstrips, enabling you to blend multiple colors via the Hue app or your preferred smart home system. Measuring 21.7 x 4.37 x 4.37in / 55.3 x 11.5 x 11.5cm (h x l x w), the table lamp is very slight, allowing for the light display to be the main focus of attention. The Signe Gradient lamp and floor light are available in black, white or oak colorways. There’s also a floor-standing version if you’d like the Signe in a larger size.

The Philips Hue Gradient Signe is both easy to set up and easy to use, making it a fab first choice if you’re just getting started with adding smart lighting to your home. And because it’s part of the Hue ecosystem it offers exceptional compatibility with a wide range of smart home kit as well as the very impressive Hue app.

As with most things Hue, the Signe Table Lamp isn’t exactly a budget option. But as long-term Hue users we can attest to the build quality and reliability of Hue products and we’d expect the Signe to be just as long-lasting. It’s a very well designed and minimalist smart lamp that’s as happy washing your walls with color as it is being a reading light next to your bed.

Read our full Philips Hue Signe Table Lamp review

Govee has risen from obscurity to become one of the most trusted names in smart lighting, thanks to its highly customizable yet very affordable offerings. Though we haven’t written our review just yet (it’s coming soon!), we have already extensively tested the Govee Glide Hexa Light Panels, and we can honestly say that they help cement Govee’s stamp in the smart light market.

These incredibly bright and highly customizable light panels are not just an attractive addition to your gaming, entertainment, or even room setup, but they are very reliable as well. That’s while keeping things more affordable than, you guessed it, Nanoleaf. Don’t get us wrong; we love Nanoleaf. But, if you’re looking for a little kinder to your wallet, these alternatives from Govee are the next best thing – even if the panels are a little smaller is size.

We also appreciate the step-by-step guide that Govee provides, as it keeps the guesswork out of installing these, especially if you’re a newbie in the world of light panels. Plus, the app offers fun lighting options suited for different moods, events, and holidays.

Read our full Govee Glide Hexa Light Panels review (opens in new tab)

We really enjoyed testing the WiZ Luminaire Mobile Portable Light. It can fill an area of a room with a spectrum of colors which can be controlled by the touch display, WiZ app and / or Alexa, Siri and Google Assistant.

You can either have it plugged in to an electrical outlet or run it off battery. It’ll last up to 10 hours on battery, or as long as you like when plugged it. Our reviewer alternated it between rooms because of this ability; it can even go outside providing you’re within Wi-Fi range and there’s no chance of rain. The power cable is to be used to recharge the batteries when you need.

The app could do with a little more refinement although it does work perfectly fine, and another color alternative or two to white would be welcomed (we’re sure) to be less prominent in a room.

Read our full WiZ Luminaire Mobile Portable Light review

Just like Philips Hue, LIFX offers a plethora of smart light options; from color and white bulbs, that come both in full size and the more compact LIFX Mini design, as well as lightstrips, LIFX Beam – the brands own take on smart light wall art and LIFX Clean – a smart light that can also kill bacteria. There’s also an outdoor bulb that enhances the night vision of best home security cameras.

Unlike Philips Hue, LIFX bulbs don’t need a hub to access all of the features – these smart lights connect directly to your Wi-Fi.  Simple to set up and easy to control, we were impressed at the vibrant colors offered by the bulbs, too. However, just like Philips Hue, the bulbs are expensive compared to incandescent bulbs.

They’re compatible with HomeKit, Amazon Alexa, and Google Assistant too, meaning no matter the type of smart home you have, they’ll fit in. However, the bulbs have an unusual style with a flat top, so they don’t look natural, and they’re bulky too.

Read the full LIFX review

There’s no denying the Nanoleaf Shapes create unique lighting effects, but they are an expensive purchase, and they won’t fit existing side lamps. Fear not, Nanoleaf also offers the more affordable Essentials range of smart lighting. Choose between the smart light bulb, with a unique geometric design known as a rhombicosidodecahedron (although this won’t be to everyone’s taste), or the Nanoleaf Essentials lightstrip.

Not only can they glow a wide range of colors, they even have a Circadian Lighting feature that changes the color temperature throughout the day to mimic the natural light. Nanoleaf Essentials smart lights support Thread, a smart home technology, that is more stable than Wi-Fi and puts an end to laggy connections, as well as Bluetooth. However, they only work with HomeKit and Google Assistant, so it might be worth avoiding if you use Alexa to control your smart home.

Read our full Nanoleaf Essentials A19 E27 review

TP-Link may be a brand best well-known for networking products such as the best wireless routers and the best powerline adapters. However, it also does an affordable range of smart home devices including smart bulbs.

As well as color and white bulbs, it’s one of a few brands that also offers smart filament-style bulbs too that can create a vintage-style look while still maintaining modern smart home capabilities. Easy to install and simple to use, the TP-Link Kasa Filament Smart Bulb offers Amazon Alexa and Google integration too, although there’s no HomeKit support. We found the KL50 TP-Link Kasa Filament to be an affordable way to add some vintage flair to your growing smart home.

Read the full TP-Link Kasa Filament Smart Bulb review

If you want a smart light that fits within one ecosystem, the Hive Active Light is a good fit. If you’re already the proud owner of a Hive Thermostat, Hive Active plug, motion sensor, or Hive View camera, you’ll know that all Hive devices can all be controlled from a single easy-to-use app, providing you have the Hive Hub, streamlining the smart home control process.

As an added bonus, Philips’ Hue bulbs can be integrated into the Hive ecosystem. So, if you’ve got this far down the list but are still thinking about the Hue range, you can go back and buy them now.

Like the other smart light ranges, Hive has a variety bulbs, with some that change color and some that just do white, however, it lacks the choice of lamps and ceiling lights other ranges offer. The light from them is very pleasant, although the bulbs do ‘pulse’ slightly if you turn them on using a light switch, so you need to leave the switch in the ‘on’ position and turn the lights on and off using the app.

Read the full Hive Smart Light Bulb review

This product is currently in review

The Govee RGBIC DreamView T1 Pro is a fun and affordable way to enhance your home movie experience. It comes with a camera that essentially captures the current colors displayed on your screen. Those colors are then displayed by the LED lightstrips and light bars in real time, bouncing them off the wall behind your TV for a full immersion.

We haven’t finished our review of this TV immersion kit, but we have been testing them for weeks and are truly impressed. Especially when you’ve got all your other lights turned down, they make movie-watching all the more enjoyable.

We have found that the colors being displayed are sometimes not very accurate, but those that aren’t are close enough that you won’t notice when you’re focused on what you’re watching. They also have Alexa integration so you can use your voice to control them. And, if the set-up feels intimidating to you, don’t worry. They’re actually pretty easy to set up, and Govee is pretty great at providing step-by-step instructions.

How we test smart lights

To compare the best smart lights we evaluate how simple they are to install and control. We assess how quickly they respond to commands such as dimming or brightening the smart light bulbs, as well as changing the color and creating groups of smart light bulbs that can be controlled at the same time, both when we’re at home and when we’re away from our property.

We also assess each design on any voice control capabilities and it’s home automation features. For each model we wanted to know how much choice in different light fittings were offered, the extra kit such as hubs, dimmer switches and motions that’s also available for the smart lights and that it didn’t require reading a thick instruction manual before use.

How we test smart lights

To compare the best smart lights we evaluate how simple they are to install and control. We assess how quickly they respond to commands such as dimming or brightening the smart light bulbs, as well as changing the color and creating groups of smart light bulbs that can be controlled at the same time, both when we’re at home and when we’re away from our property.

We also assess each design on any voice control capabilities and it’s home automation features. For each model we wanted to know how much choice in different light fittings were offered, the extra kit such as hubs, dimmer switches and motions that’s also available for the smart lights and that it didn’t require reading a thick instruction manual before use.

How we test smart lights

To compare the best smart lights we evaluate how simple they are to install and control. We assess how quickly they respond to commands such as dimming or brightening the smart light bulbs, as well as changing the color and creating groups of smart light bulbs that can be controlled at the same time, both when we’re at home and when we’re away from our property.

We also assess each design on any voice control capabilities and it’s home automation features. For each model we wanted to know how much choice in different light fittings were offered, the extra kit such as hubs, dimmer switches and motions that’s also available for the smart lights and that it didn’t require reading a thick instruction manual before use.