Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that 2016 looks set to be a volatile year in which geopolitics and hard-to-quantify policy dilemmas create significant uncertainty in markets. Policymakers will be asked to make tough decisions about where and when to intervene in markets at a time when their capacity to deal with crisis is increasing challenged, suggesting the road ahead could continue to be bumpy.

Bottom Line: In the face of uncertain capital flows, an international network of swap lines would help to ensure adequate liquidity and act as a significant enhancement of the global financial safety…

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn discusses what sanctions on Russia could mean for global markets.