Michael Feroli, chief U.S. economist at JPMorgan Chase, has a fascinating analysis out Thursday on how Federal Reserve Chairman Ben Bernanke is moving to lock in new procedures for setting interest rates that will last long after his term ends in January 2014. The upshot is that Bernanke, who vowed to depersonalize the Fed, could end […]
Over the past several years, the most talked-about trend in the global economy has been the so-called rise of the rest, which saw the economies of many developing countries swiftly converging with those of their more developed peers. The primary engines behind this phenomenon were the four major emerging-market countries, known as the BRICs: Brazil, […]
At Monday night’s foreign policy debate, the first round of questions for the presidential candidates will involve “America’s role in the world.” The answers from President Obama and former Gov. Mitt Romney likely will focus on military readiness and anti-terrorism efforts. That’s what most Americans would expect to hear, given that their country has been […]
China and Japan, the world’s second- and third-biggest economies, indicated support forEurope’s new rescue fund as they pushed for quick implementation of measures to solve the region’s crisis. China will “cooperate” with the European Stability Mechanism, a permanent 500 billion-euro ($648 billion) fund that started this week, People’s Bank of China Deputy Governor Yi Gang said […]
The directors of the International Monetary Fund and the World Bank return to Tokyo this week for their annual meetings after a gap of 48 years. It’s a different Japan. The ageing of the host nation, the rise of China, the “shift” of the epicentre of global growth to mainland Asia, in more ways than […]
Earlier this year, Bob Carr, Australia’s foreign minister and a longtime friend of the United States, observed with Aussie clarity: “The United States is one budget deal away from restoring its global preeminence.” He added a caution: “There are powers in the Asia-Pacific that are whispering that this time the United States will not get […]
German Chancellor Angela Merkel will tell Greeks she wants to keep their country in the euro when she visits Athens this week, but she faces a hostile reception from a people worn down by years of austerity and recession. Many Greeks blame Merkel, who has publicly chastised them for much of the past three years, […]
BARACK OBAMA‘S re-election hopes were dealt a setback by Mitt Romney‘s relentless attack on his economic record at Wednesday’s presidential debate. Today, he got a lifeline from an unlikely source: the economy. In September, the unemployment rate plunged, unexpectedly, to 7.8%, from 8.1% in August. It was the first time it fell below 8% since […]
Bill Clinton has a favorite Robert Rubin story. It’s 1999, and the Cabinet has gathered to discuss the business of the American people. Except no one can focus because the impeachment crisis is raging, and even the most veteran Washington power players are, for lack of a better term, freaking out. “It was amazing what […]
Concern is growing that China’s economy could be headed for a hard landing. The Chinese stock market has fallen 20 percent over the past year, to levels last seen in 2009. Continued softness in recent data – from purchasing managers’ sentiment and industrial output to retail sales and exports – has heightened the anxiety. Long […]
looking beyond borders 