Sadly, principled statesmen and women who can forge bold, morally consistent responses to today’s global problems are in short supply.
Rich countries have shown impressive unity in helping Ukraine counter the Russian invasion. They now need to demonstrate the same level of
Another week, another dismal set of returns. For stock and bond investors, 2022 is off to a terrible start. Now stresses are beginning to emerge in credit fixed income markets. Large Chinese real estate developers are teetering on the edge of default and US...
With the end of post-1990s hyper-globalization, scenarios for the world economy run the gamut. In the best case, achieving a better balance
To understand the increase in consumer price inflation around the world, one must look not only at supply and demand but also at the wedge
If Europe is willing to pay the price of expensive LNG imports, it could severely undermine Russia’s ability to earn hard currency via gas
History does not offer many examples of recession-free Fed tightening cycles. Will this be an exception?
The US Federal Reserve certainly bears its share of responsibility for the great inflation of the 2020s. But powerful political pressures
For the first time in nearly twenty years, monetary and fiscal policy divergence is emerging worldwide.
By calling for supply chains to be shifted away from strategic rivals, US Secretary of the Treasury Janet Yellen has implicitly rejected the
Western countries’ increased use of financial sanctions as a weapon of war has created a new incentive for China and other countries
With luck, the risk of a synchronized global downturn will recede by late 2022. But for the moment, the odds of recession in Europe, the United
The International Monetary Fund’s significant downward revision to its 2022 World Economic Outlook, just one quarter into the calendar year,
Upcoming Fed communication may determine if we are heading into an avoidable recession and a crash on Wall Street.
Although inflation has risen sharply for multiple reasons, increased demand is by far the most important factor. The common argument about
Thoughts on the political divide in the US and a career at the intersection of economics and investing.
The net-zero transition requires the rapid development at scale of new technologies, energy-efficient infrastructure, and carbon capture and
President Biden’s recent large-scale use of the Strategic Petroleum Reserve is being driven by politics, not economics.
Following Russia’s invasion of Ukraine and a resurgence of inflation around the world, the prospects for a robust global recovery from the
Sanctions are an important and powerful weapon, and they are putting some pressure on the Kremlin. But unless the West employs them judiciously,
Investors should hope for falling corporate profits, as the alternative will lead to more pain.
The US-China trade war and the recent freezing of much of Russia’s official foreign-exchange reserves have again raised fears of an exodus
Regardless of whether America’s persistent current-account deficits really can be explained primarily by the accumulation of excess
What explains South Africa’s clearly sympathetic stance towards Russia?