What Ukraine and its Western backers have accomplished in the wake of Russia’s February 2022 invasion is extraordinary. But with congressional
Will Ukraine Survive?
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What Is the Fed Thinking?
The US Federal Reserve has clearly signaled that it is in no hurry to align its policy interest rate with the presumed value of the neutral
Credit Bidenomics for Rising US Wages
After five decades of widening inequality and stagnant pay, low- and middle-income workers in the United States experienced a significant
The Next Inflationary Surge
Negative supply shocks are likely to become more frequent, leading to greater inflation volatility. But monetary policy cannot address adverse
American Greatness and Decline
A Trump victory this November would hasten the return of US isolationism and the decline of American hegemony. The roots of American withdrawal
Germany’s Dangerous Alternatives
The breakdown of Germany’s postwar centrist political consensus poses risks for Germany and Europe. Elections this year could not be more
2024 Elections: The Trump “Dummy” Factor
The Trump effect is well-known, but not for what the conventional wisdom believes — the data suggest that Trump consistently hurts his and
FTX Was Never Really Bankrupt
The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but
China’s Imagination Deficit
Despite facing a flagging economy, powerful demographic headwinds, and an escalating rivalry with the United States, the Chinese government
Davos and the Perils of Prediction
Why is it that a gathering of the world’s wealthiest and most powerful people tends to produce such an inability to predict the future?
Loosening the Threads of Anti-Immigrant Bias
Educating young people to thrive in increasingly diverse schools requires reimagining how we build a shared sense of belonging among youth.
Protecting Ukraine Aid from Western Political Dysfunction
Despite overwhelming public support, domestic partisan disputes prevent Western countries from delivering crucial aid to Ukraine. To ensure
A Progressive Green Growth Narrative
Although many countries have the means to direct new investment toward decarbonization and other socially and environmentally beneficial outcomes,
It’s (More Than) the Economy, Stupid!
Lower inflation and low unemployment, alone, may not ensure Biden’s reelection. Voter economic angst runs deeper and broader than simple
Why Are So Many Young Chinese Depressed?
Young Chinese are increasingly disillusioned by a rigid education system, restrictions on free movement and heavy-handed family policies.
Confronting Our Four Biggest Economic Challenges
Economics has the tools to address climate change, inequality, development and globalization. But it must use them more wisely.
Not Just Democracy on the Ballot
Liberalism, far more than democracy, is at stake in this year’s elections. What America and the world need are voices that can rejuvenate
How Fiscal is the Fed?
Central bank independence is considered essential for the effective conduct of monetary policy. But has that independence been compromised
Clarifying America’s Great Inequality Debate
Inequality has become more pronounced in recent decades. It is a function of a dysfunctional economy. Recognition is the first step toward
The Rule of Law Under Fire
The post-1945 international order is not perfect, not least because it remains dominated by its leaders and architects: Europe and, especially,
The Biggest Threats to Global Economic Stability
While the sovereign-debt crisis that is currently unfolding across the developing world may not have the immediate global impact of the 2008-09
The Pillars of Green Wisdom
We must not allow the ongoing war in Ukraine and the fighting in Gaza to distract us from collective efforts to reduce our greenhouse-gas
What we Hope for in 2024
In 2024, we have three hopes for a better world.
The Inflation Challenge in 2024
The latest consumer price data in major advanced economies offer some encouraging news about headline inflation trends; but core inflation