Issues

Foreign Affairs Article

Taper Trouble

Author: Benn Steil

Benn Steil's essay in the July/August issue of Foreign Affairs looks at the international consequences of U.S. monetary policy action. He argues that developing-nation governments are coming to see the need for engineering current-account surpluses and large dollar-reserve stockpiles as a means of insulating themselves against Fed-induced capital-flow whiplash. As this amounts to "currency manipulation" in the eyes of U.S. policymakers, trade tensions are apt to grow.

See more in Ukraine; United States; Monetary Policy; International Finance

Op-Ed

Just Dating is Enough

Author: Julia E. Sweig
Folha de Sao Paulo

Following the meeting between Dilma Rousseff and Joe Biden on the margins of the World Cup, Julia Sweig reflects in her column on the significance of the thaw in U.S.-Brazil relations after a year marked by the Snowden revelations, cyberspying, and postponements.

See more in Brazil; Diplomacy and Statecraft