No more quantitative easing, please
As global financial markets melt down, one has to hope that the Federal Reserve and the world's other major central banks are drawing the right lessons from their past policy mistakes, since those...
View ArticleWe're facing a very different global economic crisis
Leo Tolstoy famously wrote that "Happy families are all alike; every unhappy family is unhappy in its own way." It would appear that the same might be said of different global economic crises. For...
View ArticleGlobal reasons for Fed caution on interest rates
When the Federal Open Market Committee (FOMC) next meets June 15-16, it will be tempted to raise interest rates for a second time this cycle. After all, domestic indicators are now pointing to a...
View ArticleAsleep at the wheel at the Federal Reserve
Desperate economic times call for desperate economic measures. Yet, despite the clearest of evidence that the coronavirus epidemic is spreading and roiling global financial markets and the world...
View ArticleEmerging market risks to the economic recovery
On Wall Street it is said that when the winds are strong, even turkeys can fly. By this it is meant that when money is very easy, even un-creditworthy borrowers will find it easy to raise money to...
View ArticleWe ignore the emerging markets at our peril
According to an old Wall Street saying, when the winds are strong even turkeys can fly. By this it is meant that when financial markets are buoyant, even countries with very poor economic fundamentals...
View ArticleAs emerging markets' economic prospects darken, US policymakers should...
Warren Buffett famously said that when the tide goes out, we find out who has been swimming naked. By this he meant that when liquidity conditions are no longer favorable, we find out which borrowers...
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