Former Chairman of Morgan Stanley Asia Stephen Roach: The Wrong War for Central Banking
BEIJING – Fixated on inflation targeting in a world without inflation, central banks have lost their way. With benchmark interest rates stuck at the dreaded zero bound, monetary policy has been transformed More...
Nobel Laureate in Economics Joseph Stiglitz: Fed Up with the Fed
At the end of every August, central bankers and financiers from around the world meet in Jackson Hole, Wyoming, for the US Federal Reserve’s economic symposium. This year, the participants were greeted More...
Deputy Governor of the Bank of England Howard Davies: Central Bank Confidential
LONDON – In 1993, the economists Alberto Alesina and Larry Summers published a seminal paper that argued that central bank independence keeps inflation in check, with no adverse consequences for economic More...
Donald Sterling sues TMZ and V Stiviano over loss of Los Angeles Clippers
Billionaire Donald Sterling sued celebrity website TMZ and an ex-girlfriend over the recording of his off-color remarks that cost him ownership of the Los Angeles Clippers. Sterling’s lawsuit filed More...
Bloomberg: Shekel Is World’s Worst Currency
– – Bloomberg declared the Israeli Shekel to be the “World’s Worst Currency” after it went on an up and down ride last week. The Shekel had appreciated by 2.1% against the Dollar More...
ECB ‘to end Greek bank lifeline’
The European Central Bank is expected to end emergency lending to Greece’s banks on Sunday, BBC news reports. The country’s banks depend on the ECB’s Emergency Liquidity Assistance More...
Deputy Governor of the Bank of England Howard Davies: Is Financial Repression Here to Stay?
There are several definitions of financial repression – and the repressors and the repressed tend to see things differently. But what financial repression usually involves is keeping interest rates below their More...
Berkeley Economics and Political Science Prof. Barry Eichengreen and Domenico Lombardi: China the Responsible Stakeholder
Come to Asia and you will hear a growing chorus of concern that China is building a sphere of influence in the region. To promote Chinese foreign investment, there is the Asian Infrastructure Investment More...
Harvard Professor Martin Feldstein: The Inflation Puzzle
The low rate of inflation in the United States is a puzzle, especially to economists who focus on the relationship between inflation and changes in the monetary base. After all, in the past, increases and More...
Banking: India’s Private Sector Lenders’ Aim Big
India’s banking sector, dominated by state players since late 60s, might be on the verge of a “fundamental transformation”. The next generation of private sector lenders are rearing up to compete More...