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August 15, 2024

Monetary Policy
What Is the U.S. Federal Reserve?

Over the past decade, the Fed kept interest rates low while it deployed trillions of dollars in stimulus and expanded its regulatory oversight. Now, the central bank is back in the spotlight for its …

A stone bald eagle perches on the Federal Reserve building in Washington, DC.

December 2, 2008

United States
Robert M. Gates, Defense Secretary

Robert M. Gates, a Cold War veteran selected to remain as defense secretary, has won bipartisan praise for his pragmatism and handling of the Pentagon amid two wars.  

February 16, 2005

Iraq
IRAQ: Editorial Briefing with Robert C. Orr

This publication is now archived. Robert C. OrrRobert C. Orr the director of the Council on Foreign Relations’ Washington program, was a member of a five-person team sent, at the U.S. government’s re…

June 24, 2024

Sanctions
What Are Economic Sanctions?

For many policymakers, economic sanctions have become the tool of choice to respond to major geopolitical challenges such as terrorism and conflict.

Protestors hold signs supporting Ukraine and calling for sanctions on Russia

July 20, 2024

Olympics
The Economics of Hosting the Olympic Games

The costs of hosting the Olympics have skyrocketed, while the economic benefits are far from clear. The 2024 Paris Olympics could be a test of whether reforms to the process have made hosting a bette…

Workers install the multicolored Olympic rings between the steel beams of the Eiffel tower.

June 21, 2024

Trade
What Are Tariffs?

U.S. Presidents Trump and Biden have both turned to tariffs to support local industries amid economic confrontation with China. Here’s how these taxes work and how they’ve been used historically.

A red-helmeted worker lays steel at a factory.

May 14, 2024

Trade
The Contentious U.S.-China Trade Relationship

Trade between the world’s two biggest economies has ballooned in recent decades, bringing significant benefits but also perils that have led to calls to rethink the relationship.

A Chinese technician wearing a facemask is cast in blue light as he works on a solar panel production line.

December 4, 2023

Budget, Debt, and Deficits
The U.S. National Debt Dilemma

With the U.S. national debt already exceeding $16 trillion, President Trump’s tax reform and budget deals with Congress have added to the country’s deficits. CFR explores the origins of the national debt, the risks it presents, and the outlook for change.

An exterior view of the U.S. Treasury building from below