Uuriintuya Batsaikhan discusses the outline plan to reduce stigma associated with short-term borrowing from the Federal Reserve, and argues that the reform package may be doing banks too many favours, and risks amplifying liquidity risk, potentially threatening more bank failures

AI looks increasing likely to become what technologists call a general-purpose technology. Michael Barr discusses the rapid evolution of AI and the potential impact of generative AI on the labour market and the economy

For the last year there has been turbulence in the US-EU partnership. Marco Rubio argues that the new alliance should focus on advancing mutual interests and new frontiers, unshackling ingenuity, creativity, and the dynamic spirit to build a new Western century

China’s BRI has reorganised global value chains. Yasuyuki Todo, Shuhei Nishitateno and Sean Brown reveal that the initiative has triggered strategic and divergent responses among major investor countries, depending on their economic and political relationships with China

The foundations of the multilateral trading system have been shaken. Petros Mavroidis argues that reviving the WTO will require a determined effort from the key stakeholders to address issues that the membership has previously avoided

The Trump administration imposed ‘reciprocal tariffs’ using powers granted under the International Emergency Economic Powers Act. Gene Grossman and Alan Sykes argue that the tariffs do not meet two core requirements for the exercise of emergency powers under the Act