Professor of Economics at Harvard University Kenneth Rogoff: The Fed’s Communication Breakdown

 Nothing describes the United States Federal Reserve’s current communication policy better than the old saying that a camel is a horse designed by committee. Various members of the Fed’s policy-setting Federal More...

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...

Harvard Professor Martin Feldstein: The Chinese Economy and Fed Policy

Janet Yellen’s speech on September 24 at the University of Massachusetts clearly indicated that she and the majority of the members of the Federal Reserve’s Federal Open Market Committee intend to raise More...

Harvard Professor Martin Feldstein: America’s Risky Recovery

The United States’ economy is approaching full employment and may already be there. But America’s favorable employment trend is accompanied by a substantial increase in financial-sector risks, owing More...