"Managing a bond fund these days is a peculiar business. Global central banks have aggressively supported government bonds, driving up—many would say distorting—their prices. Market observers generally agree that support will eventually ebb, bringing prices back down and bond yields up, but no one can be certain when. What is an investor to do?"
"Japan is also a global trendsetter in other, more troubling ways. If the policy makers of Europe and North America want a sense of the social, economic and strategic challenges they may face in the coming years, they should visit Japan…"
Harvard University professor and economist Martin S. Feldstein and Peterson Institute for International Economics President Adam S. Posendiscuss the nomination of Federal Reserve Vice Chairwoman Janet Yellen to replace outgoing Federal Reserve Chair Ben Bernanke.
"Despite all the similarities to the 1990s Asian financial crisis, and the worries from investors, analysts, and international institutions, a repeat of the 1990s is very unlikely," writes Joshua Kurlantzick.
"Yellen will have to continue the Fed's easy money policies. She has no choice. The economy is getting no better, and a consensus is forming that stopping the stimulus could make things suddenly worse."
Peter Orszag writes that new research finds hospitals with better heart attack patient survival rates are rewarded with greater market share, which suggests competitive forces are allocating patients to the most productive hospitals.
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.