Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were
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Growth theory doesn’t make for pleasant reading these days. Indications point to challenges ahead.
Market fundamentals are shifting from tailwinds to headwinds. Investors ought to prepare for more volatile conditions.
Modern Monetary Theory (MMT) is misunderstood by its defenders and detractors. Elements of it can be useful, others are dangerous.
Demographics are friendly to Democrats. But without safeguards to voting rights, majorities may not matter.
Unlike the US Federal Reserve, the European Central Bank has no fiscal backstop and must worry about the cohesion of the eurozone, in addition
In a pandemic, you can send people all the money in the world and they still won’t go out to dinner or book a flight, especially if those
Although France and Germany are more reliant on each other than ever, the two heavyweights at the heart of Europe still have vastly different
For decades, the Japanese government has amassed more and more debt without triggering higher borrowing costs or inflation. But there is no
Economists have long know that Gross Domestic Product (GDP) is a poor representation of society’s well-being. Promising alternatives are
We are not color blind. We form views on race and inequality that defy statistics and analysis. Overcoming racial inequality will be an enduring
A successful global trading system requires good faith actors. In recent years, the US has undermined its standing by acting in bad faith.
STEM prepares us to tackle technical problems. The humanities prepare us to tackle life’s problems. It is time to restore the humanities
For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they
The later the US Federal Reserve is in reacting properly to inflationary developments, the greater the likelihood that it will have to hit
Digital payments and financial transactions hold the promise of greater convenience, stronger competition, and increased savings to society.
Addressing climate change is vital. But so too is sound central banking. Keeping those tasks separate is best.
The oceans are our commons. We must act before they become our tragedy. The upcoming WTO meeting offers an opportunity for a fresh start.
From the US and Brazil to Turkey and India, growing price pressures are leaving policymakers facing some difficult decisions. Unlike in many
The digitized, dematerialized, knowledge-based economy is already here and spreading, and offers huge potential value. The challenge for firms
In the run-up to COP26, companies trumpeted their commitment to addressing climate change, often citing pledges to achieve goals decades in
Addressing climate change requires resiliency and sacrifice. Both are in short supply, suggesting that required changes will be delayed, imposing
The public purse is not unlimited. It is time for proponents of government programs to focus on what is essential to achieve before the next
When forecasts are not specific enough to be actionable, the supply response cannot adjust in a timely or efficient manner. And because there