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August 30, 2011

The Transatlantic Alliance Survives the Summer

European Commission President Barroso, U.S. President Obama, Russian President Medvedev, French President Sarkozy, Japanese Prime Minister Kan, Canadian Prime Minister Harper, British Prime Minister …

The Transatlantic Alliance Survives the Summer

June 24, 2009

China
Where is the spillover? China’s stimulus isn’t doing much to support Japanese demand

Japan’s exports to China are still way down on a y/y basis in May, despite China’s stimulus. Shipments to China, Japan’s biggest trading partner, fell 29.7 percent, more than April’s 25.9 percent. E…

April 13, 2009

Monetary Policy
China’s reserves are still growing, but at a slower pace than before

If China’s euros, pounds, yen and other non-dollar reserves were managed as a separate portfolio, China’s non-dollar portfolio would be bigger than the total reserves of all countries other than Japa…

China’s reserves are still growing, but at a slower pace than before

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 …

December 17, 2008

Monetary Policy
Today’s Fed statement speaks for itself

The Fed cut policy interest rates to zero, more or less. And it signaled that it hasn’t run out of ammunition even if it cannot cut rates further. Not so long as there are still financial asse…