Skillful monetary policy can help offset a negative demand shock, but can do little or nothing to offset a supply shock caused by adverse trade developments.
Trump thinks his tariff war will improve the US trade balance, but does not understand that if foreign exporters are cut off from the US market, they will not have the dollars to buy US goods.
As we approach the tenth anniversary of the global financial crisis, we should recall how we got there. In 2003-07, the US government pursued fiscal expansion and financial deregulation—an approach that, even at the time, w
President Donald Trump’s aggressive approach to trade, which was on stark display at last week’s G7 summit in Quebec, has elicited widespread derision. Critics point out that his tariffs hurt the domestic economy while un
Another popular response to the recent correction has been to complain that the market has been made more volatile, because trading is increasingly carried out by machines, rather than humans. True, if a computer is programme
Multiple factors, including urbanisation, high savings rates, and improved access to education, undoubtedly underlie these countries’ impressive performance.
The US has plenty of experience with irresponsible tax cuts. Yet its leaders seem not to have learned their lesson. Should Republicans secure the legislative victory they so desire, the entire country—with the exception, pe
