Follow the Money
Latest Post
The Oversight Board’s Latest Fiscal Plan for Puerto Rico is Still Too Optimistic
The power is off in Puerto Rico, again. It may not be restored for a day or two. Read More
April 13, 2018
Thailand
Previewing the U.S. Treasury’s April Foreign Exchange Report
The U.S. Treasury Department’s next foreign exchange report is due on April 15—so it should come out soon, maybe even tonight. Normally the section on China attracts all the attention.
Read MoreApril 6, 2018
China
When Did the China Shock End?
Conventional wisdom among economists is that the China shock ended a decade ago. That is largely because the U.S. bilateral deficit with China has been fairly stable since 2007 (measured as a share of U.S. GDP) while China’s current account surplus fell significantly as a share of its GDP from 2007 to 2017.
Read MoreMarch 20, 2018
South Korea
I Gave Korea Too Much Credit For Letting the Won Appreciate in December
The Trump Administration should be giving Korea a hard time for its return to foreign exchange market intervention in January 2018.
Read More