Benn Steil and Dinah Walker explain why the Fed's massive holdings of mortgage-backed securities (MBS) are distorting its thinking about the conduct of monetary policy going forward.They propose a novel plan to rectify this, in which the Fed swaps its MBS with the Treasury in return for Treasury securities, which the Fed can sell as part of a normal "exit" from monetary stimulus.
Asked by Hassan, from National University Of Sciences and Technology
To date, Chinese officials have asserted that their interest in Gwadar is strictly a commercial effort to provide another energy corridor for Middle East oil, and Pakistani government officials stridently affirm this position. New Delhi, on the other hand, has expressed "concern" about the true motivations in developing Gwadar, suspecting that it is a Sino-Pak effort at encirclement.
The world may expect great things from India, but as extensive reporting reveals, Indians themselves turn out to be deeply skeptical about their country's potential. That attitude, plus New Delhi's dysfunctional foreign-policy bureaucracy, prevent long-term planning of the sort China has mastered -- and are holding India back.
Much of the outrage over economic inequality in the United States has centered on the high compensation and lack of accountability that corporate executives supposedly enjoy -- allegedly the result of boards at public companies. The truth, however, is that American CEOs now earn less and get fired more than in the recent past.
Authors: Shantayanan Devarajan and Wolfgang Fengler
Sub-Saharan Africa's GDP has grown five percent a year since 2000 and is expected to grow even faster in the future. Although pessimists are quick to point out that this growth has followed increases in commodities prices, the success of recent political reforms and the increased openness of African societies give the region a good chance of sustaining its boom for years to come.
For the U.S. economy to reach its full potential, argues Edward Conard, Washington should decrease federal spending and ease government regulation. Fareed Zakaria demurs, contending that structural reform and government investment are what the U.S. economy needs most.
Nobel Laureate economist Joseph Stiglitz discusses how the lack of financial regulation creates market instability which results in inequality, and addresses ways to strengthen both the U.S. and international economy, to prevent further collapse.
The IMF Board of Governors is advised by the Development Committee and the International Monetary and Financial Committee. After the IMF-World Bank Spring meetings, both committees released final communiqués on April 20, 2013.
Lori Wallach, director of Public Citizen's Global Trade Watch, discusses investment treaties, their implications for policies to promote financial stability and sustainable use of natural resources, and the flaws of the arbitration system used by investors and nations to settle conflicts, with a focus on the global south.
After more than a decade of war and several years of a deep financial crisis, many Americans are asking whether the country should focus more of its attention—and more of its resources—at home. That said, the impulse to lead is still strong in both political parties and most polls show that Americans still feel both a moral and strategic imperative to remain fully engaged in the world.
American policymakers have long been concerned about the eroding U.S. advantage in educating science, technology, engineering, and math (STEM) students. With much of the assembly work for lucrative high-technology products having moved to Asia, future U.S. prosperity depends increasingly on innovating new products and techniques—innovation that requires training (or importing) a new generation of scientists and engineers.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.