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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

April 2, 2024

Supply Chains
U.S.-South Korea Policy Coordination on Supply Chain Resiliency

On November 28, 2023, the Council on Foreign Relations’ program on U.S.-Korea Policy held an in-person workshop on U.S.-South Korea policy coordination toward China on supply chain resiliency. 

Leaders of the Indo-Pacific Economic Framework (IPEF) take a group photo at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco on November 16, 2023.

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

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?

November 14, 2011

Europe and Eurasia
It’s Time to Euthanize Sovereign CDSs

Imagine life insurance contracts that wouldn’t pay off if officials declared heart attacks to be “voluntary.” Welcome to the world of sovereign credit default swaps, or CDSs.  When the Greek debt d…

It’s Time to Euthanize Sovereign CDSs