Benn Steil’s op-ed explains how the mechanics of implementing Federal Reserve monetary policy have changed radically since the crisis. Little known is that the new plumbing is not actually controlled by the FOMC, but by the much smaller Board of Governors. Given that the Board is decidedly more dovish than the FOMC, Fed watchers focused on the latter may be expecting a more aggressive timing and pace of rate rises than is likely.
The United States and China have developed competing visions for reviving ancient trade routes connecting Asia and Europe. The U.S. diplomatic strategy focuses on Afghanistan, while China hopes to economically integrate Central and South Asia. India and Russia also have regional ambitions.
Central bank currency swaps are becoming the new cross-border tool of choice in financial crisis management. This interactive explores the rapid growth of currency swaps since 2007 and its implications for the global financial system.
Since the creation of the European Union in 1992 and the subsequent launch of the euro, Greece’s fiscal mismanagement and resulting debt crisis has repeatedly threatened the stability of the eurozone—and the country’s troubles are far from over.
As Congress debates whether to grant President Obama authority to complete the most ambitious trade agenda in a generation, the most important organized voice for America’s workforce is once again in a familiar place — standing outside, screaming for lawmakers to stop.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that it is time for central banks to debate whether a higher inflation target would improve the operation of monetary policy.
Japanese Prime Minister Shinzo Abe addressed the U.S. Congress on April 29, 2015, in a speech titled "Toward an Alliance of Hope." He discussed U.S.-Japan relations after World War II, the U.S. rebalance to Asia, and trade initiatives like the Trans Pacific Partnership.
Nicaragua’s proposed Grand Canal would be one of the world’s largest engineering projects. Its proponents say it could transform the country’s economy, while critics say it could be an environmental catastrophe.
On April 23, 2015, Secretary of State John Kerry delivered remarks at the Atlantic Council's Conference on Trade and National Security. He discussed the Trade Priorities and Accountability Act of 2015 (TPA-2015) and why he supports the Trans Pacific Partnership and the Transatlantic Trade and Investment Partnership.
Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Chairman Paul Ryan (R-Wis.) introduced this legislation on April 16, 2015. The legislation allows the White House to continue pursuing trade deals such as the Trans Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP) and allows Congress to vote on the treaties.
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.
The authors argue that the United States has responded inadequately to the rise of Chinese power and recommend placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.
Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.
Learn more about CFR’s mission and its work over the past year in the 2014 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »