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June 23, 2014

Global
Michael Levi Named Director of Maurice R. Greenberg Center for Geoeconomic Studies

The Council on Foreign Relations (CFR) is pleased to announce that Michael A. Levi, David M. Rubenstein senior fellow for energy and the environment and director of the program on Energy Security and…

November 14, 2005

United States
Congressional Budget Office Director Douglas Holtz-Eakin Selected to Head the Council’s Maurice R. Greenberg Center for Geoeconomic Studies and to Hold the Paul A. Volcker Chair in International Economics

November 14, 2005—Council President Richard N. Haass has named Douglas Holtz-Eakin, current director of the Congressional Budget Office (CBO), the new director of the Council’s Maurice R. Greenberg C…

October 13, 2011

Capital Flows
Eurozone Bank Deposits Are Fleeing for Germany

The eurozone leadership is finally coming around to accepting that a major continent-wide bank recapitalization program is necessary.  Germany wants each country to take care of its own banks.  T…

PIGS vs. German Bank Deposits

August 2, 2012

Monetary Policy
Benchmarking the Fed’s Dual-Mandate Performance

The Fed has a dual mandate to pursue price stability and maximum employment.  How should these be defined?  In January, the Fed set itself a long-run inflation target of 2%, while in June the midp…

Benchmarking the Fed’s Dual-Mandate Performance

July 16, 2012

Europe and Eurasia
More Evidence That LIBOR Is Hazardous to Economic Health

Central bankers necessarily spend a great deal of time studying economic and market data that they believe to be forward-looking indicators of the economy’s health.  One such is the so-called “LIB…

More Evidence That LIBOR Is Hazardous to Economic Health

July 10, 2012

Europe and Eurasia
More Evidence That LIBOR Is Manipulated, and What It Means

Barclays’ admission that it deliberately understated the interest rates at which it could borrow between September 2007 and May 2009 suggests grievous flaws in the widespread process of using LIBO…

More Evidence That LIBOR Is Manipulated, and What It Means

July 2, 2012

Europe and Eurasia
"Iceland's Post-Crisis Miracle" Revisited

Back in July 2010, we produced a post examining the “Icelandic Post-Crisis Miracle,” as proclaimed by Paul Krugman.  We showed that Krugman’s “miracle” was merely an artifact of comparing changes …

"Iceland's Post-Crisis Miracle" Revisited

June 18, 2012

Monetary Policy
Gloomy Jobs Picture Is off the Fed’s Charts

When the Federal Reserve’s Open Markets Committee (FOMC) last met in April, the unemployment rate was on a declining path – having fallen to 8.2% in March from 9.1% the previous August.  Against t…

Gloomy Jobs Picture Is off the Fed’s Charts

June 14, 2012

Monetary Policy
Can Household Risk-Aversion Measures Predict Fed Policy?

The so-called Taylor Rule in monetary policy suggests how the Federal Reserve should adjust interest rates based on movements in inflation and economic output.  Although the Fed has never explicit…

Can Household Risk-Aversion Measures Predict Fed Policy?