NEW YORK : The European Central Bank and the US Federal Reserve have each said that they do not intend to abolish physical cash if and when a central bank digital currency (CBDC) is introduced. Recent policy briefs by the ECB and the Bretton Woods...
NEW YORK: On August 30, 2023, the US Federal Reserve System’s Consolidated Statement of Condition recorded total capital of $42.72 billion. This figure would have been negative but for the appearance of an $87.15 billion negative liability,...
NEW YORK: In a typical modern nation-state, the public sector accounts for a larger share of economic activity than any other economic actor. In 2021, general government primary expenditure for the G7 member states ranged from 39.41 per cent of GDP...
NEW YORK: Now that the brinkmanship over the US federal debt limit has been suspended until January 1, 2025, two major, interdependent fiscal-policy challenges demand attention. First, America’s public debt must be put on a safer, more...
NEW YORK : In its latest World Economic Outlook, the International Monetary Fund establishes a plausible case that once inflation has been squeezed out of the system, interest rates in the advanced economies (and in many emerging markets) will...
NEW YORK: A good case can be made that secular stagnation – sustained slower growth – is looming for most advanced economies, China, and many emerging markets and developing economies dependent on trade and foreign investment. Advocates...
NEW YORK: Argentina is about to enter another dysfunctional standby agreement with the International Monetary Fund – its 22nd SBA since it joined the IMF in 1956. While the details have not yet been settled, we already know that it will be...
NEW YORK: The price of Bitcoin has undergone yet another wild gyration, rising from $41,030 on September 29, 2021, to $69,000 on November 10, 2021, before falling back to $35,075 on January 23. That is its second-largest decline in absolute value,...
NEW YORK: Just over a decade ago, I predicted the arrival of water as an asset class. I foresaw “a massive expansion of investment in the water sector, including the production of fresh, clean water from other sources (desalination,...
NEW YORK – In a recent commentary for the Financial Times, economist Dambisa Moyo makes a case for why business leaders should invest in Bitcoin. Her three main arguments are that Bitcoin is a way to mitigate company risk; cryptocurrencies...
