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September 16, 2022

United States
Happy 75th Birthday to the United States Air Force

The United States Air Force marks seventy-five years of service.

A silver Air Force E-3 Sentry plane flies over brown desert.

August 24, 2006

China
My testimony on China - and the Bergsten/ McKinnon debate …

I had the opportunity to testify before the US-China Economic and Security Review Commission on Tuesday – on a panel with C. Fred Bergsten and Professor Ronald McKinnon of Stanford.   It is q…

September 16, 2020

Currency Reserves
Asian Intervention in the Foreign Exchange Market is Back. Bigly.

Joe Gagnon and Fred Bergsten have called the years from 2003 to 2013 the decade of manipulation, as a host of Asian countries protected their competitive position of their exporters by intervening ma…

Asian Intervention in the Foreign Exchange Market is Back. Bigly.

February 8, 2017

Monetary Policy
Does Korea Operate A De Facto Target Zone?

Fred Bergsten of the Peterson Institute has long argued for target zones around the major exchange rates. In the past twenty years, no G-3 economy has followed Bergsten’s policy advice.* The world’s …

Does Korea Operate A De Facto Target Zone?

June 17, 2019

International Economic Policy
Three Recommended Changes to U.S. Currency Policy

I have a new Policy Innovation Memo that recommends three changes to U.S. currency policy, and specifically, three changes to the U.S. Treasury’s Foreign Exchange report: 1. The Foreign Currency r…

Passers-by are reflected on a signboard displaying currency signs outside a bank in Tokyo November 27, 2014. REUTERS/Issei Kato/File Photo

May 18, 2017

Singapore
Singapore's "Shadow" Intervention

Singapore looks to have resumed intervention in the foreign exchange market

Singapore: Official Asset Growth

July 23, 2021

Oceans and Seas
Five Movies Worth Watching About Conflict at Sea

Every summer Friday, we suggest foreign-policy-themed movies worth watching. This week: films about stormy relationships and battles at sea.

Three movie posters in black frames. From left: Run Silent, Run Deep (two men in khaki uniforms above a sinking ship); Mister Roberts (four men in khaki uniforms look off the edge of a ship); Dunkirk (a young man looks out into a chaotic ocean).

April 20, 2017

Monetary Policy
The Combined Surplus of Asia and Europe Stayed Big in 2016

A long time ago I confessed that I like to read the IMF’s World Economic Outlook (WEO) from back to front. OK, I sometimes skip a few chapters. But I take particular interest in the IMF’s data tables…

The Combined Surplus of Asia and Europe Stayed Big in 2016

September 17, 2021

United States
The United States Air Force Celebrates Its 74th Birthday Tomorrow

The United States Air Force marks seventy-four years of service.

usaf

March 13, 2007

China
Forget multilateral coordination; let China do it

Fred Bergsten has long advocated in favor of a bit more exchange rate coordination – both to limit volatility and to try to avoid large misalignments among the major currencies.   Right now, the most…