In making interest-rate decisions, the Fed should have a realistic view of the broad range of the existing systemic risks and of the limits of the government's currently extant macroprudential tools, write Martin Feldstein and Robert Rubin.
Sound fiscal policy, based not on sequestration but on revenue increases and entitlement reform, is the key to a strong economic recovery and to smoothing the unwinding of unconventional monetary policy, argues CFR Co-Chairman Robert E. Rubin.
It has been a generation since our country last had a robust conversation about combatting poverty. Now is the time to reinvigorate that conversation, not cut needed benefits, write Robert E. Rubin, Roger C. Altman, and Melissa Kearney.
With the fiscal cliff looming and our current fiscal trajectory unsustainable, "We should let the Bush high-end tax cuts expire, with an achievable, progressive reduction in tax expenditures. And we should have spending cuts, including entitlement reforms, equally matched by revenue increases," says Robert E. Rubin.
Former U.S. Treasury Secretary and CFR Co-ChairRobert E. Rubin, CFR Senior Fellow Sebastian Mallaby, and Peterson Institute for International Economics Director C. Fred Bergsten discuss the European Central Bank's bond purchasing plan and the German constitutional court decision on the European Stabilization Mechanism with Foreign Affairs' Managing Editor Jonathan D. Tepperman.
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