Russia’s expansionist drive reaches far beyond Ukraine. Patrick van Schie argues that European countries should grow up militarily within NATO, an organization that has operated with unmatched success at deterring the enemies of the free world
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Rule of law is not the enemy of autonomy; it is its foundation. Christine Lagarde says the EU can pursue its policy choices because they are framed by legal commitments that others recognise and respect
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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
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History shows that tariffs harm trade. Patrick Minford demonstrates how the US is damaging its long run prospects by pursuing old-fashioned protectionism
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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
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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
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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
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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
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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
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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
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