AI is a transformational technology, perhaps in ways as dramatic as past technological achievements. Philip Jefferson considers how AI will influence the Fed’s dual mandate of promoting maximum employment and stable prices
Artificial Intelligence and the economy Read More »
The US willingness to weaponise trade makes clear that transatlantic economic relations have become entirely transactional. Luis Garicano argues that Europe must respond to US tariffs with economic strength: faster productivity growth, cheaper energy, a genuine continental market, and tech leadership
Strategic autonomy for Europe requires economic growth Read More »
The US administration’s approach to financial markets mixes deregulatory policies with a range of other policies that are largely without precedent. Gary Gensler, Lev Menand and Joshua Younger catalogue the relevant policy shifts and consider how these shifts may impact financial stability, capital markets, and the global dollar system
The financial sector and global dollar system Read More »
The US economy has shown resilience in a context of sweeping changes in economic policy. Jerome Powell says inflation and the hiring slowdown are creating challenging conditions and that balance of risks is changing
Monetary policy and the Fed’s framework review Read More »
The world is drifting toward a fragmented trade environment defined by subsidies, retaliation and industrial duplication. Jianwei Xu discusses how the world is moving into a period of entrenched manufacturing overcapacity, threatening deflation and stagnant growth
How is innovation competition exacerbating global overcapacity? Read More »
US trade deficits will have to be reduced to prevent a crisis down the road. Vijay Joshi and David Vines argue that fiscal consolidation, in association with a weaker dollar, appears to be the right way for the US to improve its trade balance
How Trump should have tackled the trade deficit Read More »
Periods of deregulatory zeal preceded all three of the most infamous financial meltdowns over the past century. Michael Barr sounds the alarm about the potential impact of Washington’s push to massively deregulate America’s financial sector
Booms and busts and the regulatory cycle Read More »
In the past most government spending was funded from import tariffs. Simon Evenett and Marc-Andreas Muendler discuss whether this practice could work today, paying attention to the displacement effect on revenues
Tariffs cannot fund the government: evidence from tariff Laffer curves Read More »
Agnès Bénassy-Quéré considers the idea that there could be lasting reversal of exchange rates following an international currency agreement highly speculative, and argues that a multipolar system would attenuate the Triffin dilemma and provide the US with a deficit-adjustment tool
Is the international monetary system unfair? Read More »
Biagio Bossone is an advisor to international organizations (including AfDB, BIS, IMF, IOSCO, World Bank), government agencies and financial institutions In a recent Vox column, Michael Bordo and Robert McCauley argue convincingly that we are no longer in ‘Triffin land’. They are responding to the revival of the Triffin dilemma by Stephen Miran, Chair of
Not Triffin, not Miran: rethinking US external imbalances in a new monetary order Read More »
