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Kahn analyzes economic policies for an integrated world.

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Headquarters of Sberbank, one of the Russian institutions under U.S. sanctions REUTERS/Sergei Karpukhin

Have Sanctions Become the Swiss Army Knife of U.S. Foreign Policy?

The Congress takes an important, positive step to reinforce Russian sanctions, but are we at risk of overusing the sanctions tool? Read More

France
French Elections and the Remaining Populist Challenge
Emmanuel Macron received a strong endorsement from French voters in yesterday’s second round election, winning around 66 percent of the vote.  While abstentions were up from the last election (an est…
United Kingdom
Brexit: Now for the Hard Part
The weekend’s European Union (EU) Summit provided little love for UK prime minister Theresa May. Leaders approved a tough opening position in the upcoming Brexit negotiations, and warned against “com…
Economics
Is It Time for Markets to Worry About Political Risk?
Jens Nystedt is a senior portfolio manager and head of sovereign research on the Emerging Markets Debt team at Morgan Stanley Investment Management.  Nearly 100 days into his term, President Trump f…
  • European Union
    France After the Election: What Next for Economic Policy in Europe?
    French election results show Emmanuel Macron in first place with 23.9 percent of the vote and Marine Le Pen in second with 21.4 percent, setting the stage for a run-off election on May 7. Early polls…
  • United States
    Currency Wars: China Escapes a Manipulation Charge
    On balance, the report reaffirms that, while trade and not exchange rates is likely to be the primary battleground for U.S. economic relations in the future, exchange rates remain a flash point.
  • Netherlands
    Dutch Elections and the European Economy
    European markets celebrated the strong electoral showing by Prime Minister Mark Rutte’s party (VVD), which looks to ensure another term for him leading a center-right coalition in the Netherlands. Th…
  • United States
    The President’s Economic Agenda: the Fight Begins
    President Trump’s address to a joint session of Congress last night highlighted the central economic themes that animated his campaign: a tougher policy on immigration and trade, a focus on infrastru…
  • Economics
    The Long-Term Economic Costs of the President’s Executive Order on Immigration
    For all the human disruption and confusion associated with President Trump’s executive order on immigration released on Friday, it is also worth noting the potential for substantial negative macroeco…
  • Europe
    After the Italian referendum: a treacherous period for banks and growth
    The post-referendum market response to Italy’s referendum mirrored the reaction following the Brexit and U.S. election votes: calm after a knee-jerk negative reaction.  After all, not much has change…
  • United States
    The President’s (Economic) Inbox
    The election of Donald Trump creates extraordinary uncertainty about the future course of U.S. economic policy. Markets don’t like extreme unknowns, and there are valid reasons to fear that Trump’s p…