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
Read more
History shows that tariffs harm trade. Patrick Minford demonstrates how the US is damaging its long run prospects by pursuing old-fashioned protectionism
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
Read more
There is a growing push for the European Commission to weaken merger control. Natalia Fabra, Massimo Motta and Martin Peitz argue for a strengthening of the guidelines and offer suggestions to guide the process
Read more
The payment system is experiencing a technology-driven revolution. Christopher Waller outlines how the Fed is exploring the integration of emerging technologies such as tokens, smart contracts and AI into the payments system
Read more
In the age of AI, we may need to start thinking differently about hazardous jobs. Ben Wray discusses the growing evidence of mental ill-health in content moderation and the need to protect the rights of click workers
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
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
Read more
As the world continues its digital transformation, the ECB is moving toward the launch of the digital euro – a central bank-issued currency that offers a universal, secure payment method for everyday use. Piero Cipollone discusses how a digital euro would support Europe’s strategic autonomy and monetary sovereignty
Read more
It’s a time of profound change – technological, geopolitical, environmental. Sarah Breeden shares some real world examples of how risks to price and financial stability from climate change are emerging now, and how they might grow going forward
Read more