|  Larry Downing / Reuters |
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In a Wall Street Journal op-ed, Benn Steil argues that the Fed's recent experiment with transparency risks undermining its own credibility. The Fed broke with past practice by offering a prediction of how it would set interest rates three years into the future. But history has shown that the Fed is not a reliable forecaster of the economy. The Fed is therefore likely to revise its view, dismaying those who took its predictions as pledges. Or, if the Fed sticks to its predictions, it may do so at the cost of rising inflation. |
Correcting the Course Surviving Globalization Edward Alden highlights the need for advocates of international trade to confront growing skepticism over greater American involvement in the global economy. Read More » In Praise of Auto-Pilot Peter R. Orszag wants the United States to rely more on automatic stabilizers to stem the shocks from recessions. Read More » A Proposal for Mitt Romney Sebastian Mallaby suggests how a politician could profitably take on on America's addiction to debt. Read More » World Bank in Transition Why We Still Need the World Bank More than sixty years after the World Bank was founded, developing countries still turn to it for financing and expertise. But the world is changing, and so must the bank, argues its outgoing president Robert B. Zoellick in the new issue of Foreign Affairs. Read the Essay » The Quiet Revolutionary Who Saved the World Bank Sebastian Mallaby explains how Robert Zoellick has guided the World Bank into an era of greater transparency, collaboration, and innovation. Read More » Toward Sustainability The Sustainability Mindset To achieve sustainable economic growth, Michael Spence says education and values must promote greater awareness of the consequences of individual and collective choices. Read More » Cost Savings As We Age: Common Sense Michael Hodin says the path to fiscal sustainability lies in funding research programs and healthy aging initiatives that reduce the government outlays needed to care for an aging population. Read More »
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Buffett Wants to Pay Higher Taxes—on Less Than 1 Percent of His Income Warren Buffett has called on Congress to stop giving "extraordinary tax breaks" to the mega-rich, but the latest Geo-Graphics post shows that the U.S. tax code is actually more progressive than the Sage of Omaha suggests. Read the Blog »
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The Maurice R. Greenberg Center for Geoeconomic Studies (CGS) works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs.
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