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June 9, 2014

Politics and Government
Hello (Ahlan), Abdul Fattah al-Sisi: President of Egypt

Abdul Fattah al-Sisi took the oath of office as Egypt’s new president yesterday.  He succeeded the interim president, Adly Mansour. And who appointed Mansour? Why, Sisi himself after he and the Egypt…

Sisi-President-Egypt

May 27, 2014

India
Hello, Narendra Modi: Prime Minister of India

India did not produce Horatio Alger, but it certainly has produced a Horatio-Alger story: Narendra Modi. Yesterday the son of a poor tea seller took the oath of office as India’s fourteenth (or fifte…

Modi-India-Prime-Minister

September 17, 2007

Financial Markets
The first true twenty-first century financial crisis?

Larry Summers – picking up on a phrase perhaps first used by Michel Camdessus -- liked to call the Mexican crisis the first financial crisis of the 21st century.   Mexico’s decision to exhaust its re…

July 30, 2008

Monetary Policy
Just how stabilizing?

Russia’s central bank has indicated that it has cut its holdings of Fannie and Freddie debt by about half since the beginning of the year. Russia’s central bank claims its $100 billion portfolio …

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October 18, 2008

Monetary Policy
Where is my swap line? And will the diffusion of financial power Balkanize the global response to a broadening crisis?

Some emerging market central banks have noticed that they – unlike the Bank of Japan, Bank of England, Swiss National Bank and the European Central Bank – don’t have access to unlimited dollar credit…