Free trade remains the best policy
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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Author: Op-ed
Monetary policy and the Fed’s framework review
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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Updating the EU Merger Guidelines
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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Technological advancements in payments
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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The 21st century hazardous job
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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Innovation competition
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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How Trump should have tackled the trade deficit
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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What a digital euro will bring
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
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Weathering the storm
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
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Booms and busts and the regulatory cycle
Periods of deregulatory zeal preceded all three of the most infamous financial meltdowns over the past century. Michael Barr sounds the alarm about the potential impact of Washington’s push to massively deregulate America’s financial sector
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