Benn Steil's Wall Street Journal op-ed argues that the Fed's recent 3-year low interest rate pledge, combined with an inflation target below current inflation levels, is misguided, given its persistently poor track record with economic forecasting.

Sebastian Mallaby explains how Robert Zoellick has guided the World Bank into an era of greater transparency, collaboration, and innovation.

In addressing capitalism's critics, Sebastian Mallaby champions hedge funds as appealing alternatives to too-big-to-fail institutions.

Sebastian Mallaby argues that the internationalization of the renminbi is less a sign of China's rise than of China's internal confusion.

Benn Steil's Forbes op-ed explains why central banks, in spite of their money-printing powers, ultimately need real capital.

Research links about international trade and investment, including news, policy, agreements, and markets.

This report tracks the foreign investment portfolios of the BRIC governments— Brazil, Russia, India, and China—by looking at reserves holdings and holdings of U.S. assets.

As China’s currency for international trade has steadily grown, some argue the renminbi could displace the dollar as the international reserve currency. Jeffrey Frankel examines these propositions by looking at how other international currencies established themselves.

In the wake of financial regulatory overhaul, experts continue to differ on the role of the Federal Reserve and its powers.

While Greece has failed to meet the budget requirements mandated by the EU and the IMF, experts say eurozone leaders will likely continue to bailout the country because the costs of letting it go are far greater.

The GAB and NAB are credit arrangements between the IMF and a group of members and institutions to provide supplementary resources of up to SDR 34 billion (about US$50 billion) to the IMF to forestall or cope with an impairment of the international monetary system or to deal with an exceptional situation that poses a threat to the stability of that system. Separately, Japan has agreed to lend the Fund up to US$100 billion (about SDR 68 billion) as a measure to help overcome the current global economic and financial crisis.

Report assesses global financial markets.

Despite global market fears of a U.S. credit downgrade, U.S. treasuries will remain the safest bet for international investors, says global economics expert Kent Hughes.

While a last-minute deal was able to raise the U.S. debt ceiling ahead of default, global investors are frustrated by the unnecessary brush with crisis and by the culture of U.S. political brinkmanship. The long-term impact on U.S. treasuries is unclear.

Sebastian Mallaby is unconvinced by the thesis of Jeff Madrick's Age of Greed, a history of American banking since the 1970s.

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

Amity Shlaes urges Christine Lagarde to emphasize clarity over comity in discussing the future of the euro.

With the deadline looming for resolving the U.S. debt standoff, concern is rising among international creditors and markets about the largest economy and home of the world's reserve currency.