89 Results for:

August 7, 2019

United States
Election 2020: Kirsten Gillibrand, Democratic Presidential Candidate

It has been a while since Americans have elected successive presidents from the same state. Not since November 2, 1880 in fact.* That’s when Republican James A. Garfield of Ohio won the right to succ…

Kirsten Gillibrand

March 8, 2019

United States
The U.S. Trade Deficit: How Much Does It Matter?

President Trump has made reducing the U.S. trade deficit a priority, blaming trade deals like NAFTA, but economists disagree over how policymakers should respond.

Chinese steel factory

August 24, 2016

Europe and Eurasia
Italy’s (Not So) Big Bad Bank Bailout

Italy’s recovery from the crisis lags even the rest of laggard Europe. Its economy remains 8 percent smaller than in 2007; among EU members, only Greece and Cyprus have done worse. Top of the lis…

Italy’s (Not So) Big Bad Bank Bailout

August 11, 2016

Europe and Eurasia
Portugal Gaining on Italy in the Banking ‘Doom Loop’

Italian banks have taken a pounding of late from the ECB, the markets, and the media.  They currently hold a whopping €360 billion in nonperforming loans (18 percent of their portfolio), the most …

Portugal Gaining on Italy in the Banking ‘Doom Loop’

June 3, 2016

Monetary Policy
Is the Fed Losing Credibility? A Response to Kocherlakota.

Former Minneapolis Fed president Narayana Kocherlakota says that the Fed has a credibility problem.  Investors, he argues, have lost faith that the Fed will hit its 2 percent inflation goal even i…

Is the Fed Losing Credibility? A Response to Kocherlakota.

March 3, 2016

Europe and Eurasia
CoCo Nuts Have Been Hammered, but the Market Is Doing Just Fine

Anxiety over whether Deutsche Bank would suspend interest payments on its contingent convertible bonds, otherwise known as CoCos, fueled a February selloff in the $250 billion market – as well as …

CoCo Nuts Have Been Hammered, but the Market Is Doing Just Fine

December 12, 2016

United States
Is the Emerging Market Currency Plunge Really About Trade?

Emerging market (EM) assets have taken a beating since Donald Trump’s surprise election victory on November 8.  EM bond prices are down 4.4 percent, equities 4.6 percent, and currencies 4.1 percen…

Is the Emerging Market Currency Plunge Really About Trade?

December 1, 2016

China
China’s Bond Market Can’t Handle a Global RMB

    The Chinese RMB’s ascension into the IMF’s SDR currency basket in October has been widely seen as an important first step on its path to becoming a global reserve currency.  But we woul…

China’s Bond Market Can’t Handle a Global RMB

November 14, 2016

Europe and Eurasia
Paul Krugman Doubles Down On Fiscal Expansion Claims Contradicted by Data

“Everything about recent experience,” Paul Krugman says, “suggests that the world desperately needs fiscal expansion to boost demand and … that our sole reliance on central banks isn’t working.” …

Paul Krugman Doubles Down On Fiscal Expansion Claims Contradicted by Data

June 21, 2017

Europe
Where Does Italy’s Bank Recapitalization Stand?

Italy is making real progress now. But completing the recapitalization of Monte and the restructuring of the two Veneto banks may not be quite enough.