The new US administration has made the Federal Reserve’s monetary policymaking more complicated both because of the elevated uncertainty regarding administration policies and because of the extraordinary political pressure put on the central bank. This column describes how, thus far, the Fed has followed a cautious path for policy, waiting for more information on policy […]
Effectively suspended since the onset of the Covid pandemic, the EU fiscal rules were set to make a comeback in 2024. At the same time, the EU was pushing for a major and swift overhaul of its fiscal framework. This column describes how, caught between freedom and responsibility of the transition phase, countries with a […]
Climate-related risks are increasingly recognised as an important threat to long-term fiscal sustainability. This column studies the extent to which credit rating agencies integrate these risks into their sovereign rating assessments. It finds that measures of physical risk lead to lower credit ratings, but the impacts are small in magnitude. Ambitious CO2 reduction targets and […]
Dollar on course to end week flat against EUR; lower against JPY, GBP. The dollar was largely steady against the euro and British pound on Friday as traders trimmed wagers on monetary policy easing by the U.S. Federal Reserve following hotter-than-expected wholesale inflation data. The Japanese yen, meanwhile, firmed broadly following surprising strong economic growth […]
The Committee for a Responsible Federal Budget’s latest forecasts show a cumulative deficit of $22.7trln from fiscal 2026 to 2035. U.S. federal budget deficits will be nearly $1 trillion higher over the next decade than projected in January by the Congressional Budget Office as a result of tax and spending legislation and tariffs, a budget […]
U.S. crude stocks fell by 2.42 million barrels, market sources said on Tuesday, citing American Petroleum Institute figures, ahead of official data at 1430 GMT. Oil rose on Wednesday as the American Petroleum Institute reported a drop in U.S. crude inventories and investors awaited the next steps in talks to end the Ukraine war, with […]
Euro zone business activity expanded in August, PMIs show. European stock markets fell slightly in early trading on Thursday, hovering just below recent highs, as traders avoided making big moves and waited for the Federal Reserve’s three-day annual Jackson Hole symposium. Jackson Hole starts on Thursday and focus will be on Fed Chair Jerome Powell’s […]
There is a growing push from certain quarters for the European Commission to weaken merger control in order to spur greater investment and innovation, higher productivity and growth, or the creation of European champions. This column argues that there are empirical and theoretical grounds to strengthen, rather than weaken, merger control, and offers suggestions to […]
Workers often remain in their jobs even when they know they may get higher wages elsewhere, raising questions about the effectiveness of pay transparency laws. This column draws on a large German survey to examine how information frictions shape labour market outcomes. The findings suggest that workers are better informed than many policymakers assume, but […]
The Strategic Trifecta: Balancing Growth, Sustainability, and ResilienceAs Dubai, UAE’s financial leadership continues to evolve in a digital-first world, financeleaders are stepping beyond traditional roles—becoming strategic visionaries,technology evangelists, and architects of sustainable growth. To power this transformation, NetNex Global presents the 25th edition of CFO StraTech 2025,Dubai, UAE premier finance leadership summit and awards.�� Held […]
