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A website forum in which senior fellows of the Peterson Institute for International Economics discuss and debate their responses to global economic and financial developments as they occur each day and offer insights that others might overlook.
In his testimony [pdf] to the Congress this week, Fed Chairman Ben Bernanke left the door open to further monetary stimulus but made it clear that such action is not imminent. This reluctance to act may seem puzzling given the widespread view that the economic recovery is too weak. In [...]
In the wake of the Gulf oil spill, Senate Democrats are gearing up to bring an energy bill to the floor next week in the hopes of improving the safety of offshore oil production and beginning to wean the country off fossil fuels. The biggest outstanding question surrounding the draft legislation [...]
I am not able these days to make as much time as I would like to read whole books, but during a recent vacation I was able to finish Lords of Finance by Liaquat Ahamed. I recommend it to anyone interested in the interwar period of the 1920s and 1930s, both before [...]
The bank lobbyists, it turns out, missed one. They and their congressional allies were able to gut the Volcker Rule, the Lincoln Amendment, and almost everything else that could have had a meaningful effect on the industry.
But, as I point out in a Bloomberg column on July 9, they couldn’t get at [...]
There will be an eerie familiarity to this weekend’s G-20 meetings. Disagreements between the United States and Europe on two important issues—macroeconomic policy, and specifically the timing of withdrawal of policy support, and financial regulation—will characterize these meetings. Resolution of these issues seems unlikely. The verdict will be that [...]