Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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April 29, 2009
Monetary Policy
The Government Bank
The Fed recently reaffirmed its determination to expand its balance sheet. The crisis has already driven it to take on risky assets such as agency bonds and commercial paper. It has also lent to we…
September 13, 2008
Financial Markets
Much to worry about
The New York Federal Reserve Bank doesn’t use its ability to summon Wall Street’s top leadership to its downtown castle lightly. This doesn’t seem quite like LTCM either. For one, the US Trea…
May 22, 2009
Monetary Policy
Fed’s Exit Strategy
Some assets on the Fed's balance sheet are short-term credits than could be withdrawn easily if confidence in financial institutions returns, but the Fed has also been buying longer term assets tha…
February 10, 2009
Financial Markets
Toxic banks or toxic assets?
Two weeks ago, George Soros memorably framed the core choice the US now faces as a choice between buying toxic assets or taking over toxic banks. “The hard choice facing the Obama administration is …
September 17, 2006
Economics
Too much to read …
I really liked Krishna Guha’s analysis of global imbalances that appeared in Wednesday’s FT. His emphasis on the role of exchange rate adjustment in global rebalancing seemed right to me. Exchang…