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December 3, 2015

Europe
European Central Bank Rate Move, a Turning Point for Europe

At the governing council’s meeting today, the European Central Bank (ECB) announced that it will cut benchmark deposit rate to -0.3 percent, extend its quantitative easing (QE) program to at least Ma…

Central bank rates in Europe

June 7, 2024

Election 2024
Election 2024: Joe Biden Makes the Case for Allies and Alliances

Each Friday, I look at what the presidential contenders are saying about foreign policy. This Week: President Joe Biden spoke with Time magazine about the importance of alliances to U.S. security.

U.S. President Joe Biden visits the Pointe du Hoc Ranger Monument

October 31, 2014

Europe
Three Central Banks

Today’s central bank news tells us a lot about the risks and rewards of proactive central banking. The Bank of Japan (BoJ) surprised me (and nearly everyone else ) with a dramatic expansion of its u…

July 24, 2023

United States
Why Washington Should Give Up the World Bank Presidency

To boost the Bretton Woods institutions, and parry challenges from Beijing, Washington should give up the World Bank presidency.

World Bank

November 3, 2014

Europe and Eurasia
The ECB Fails to Stress Banks Over the One Critical Variable It Controls: Inflation

Relentlessly falling inflation is bad news for Eurozone banks.  It increases the real (inflation-adjusted) value of borrower debt and the real cost of servicing that debt.  It causes loan defaults…

The ECB Fails to Stress Banks Over the One Critical Variable It Controls: Inflation