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 […]
Senator Elizabeth Warren has warned BNY that its reported interest in a merger with Northern Trust could violate federal banking laws, saying any potential deal between the two large custody banks raises antitrust concerns. Warren, the top Democrat on the Senate Banking Committee and a longtime big bank critic, told BNY CEO Robin Vince in a […]
The U.S. Commerce Department said on Monday it has opened national security investigations into the import of drones and related components as well as polysilicon, a key component in solar panels and semiconductors. The “Section 232” investigations, which were opened on July 1 but not publicly disclosed previously, could be used as a basis for […]
Advanced economies alone can no longer determine climate outcomes. Emerging and developing economies – home to two-thirds of current emissions and most of the world’s biodiversity – are now the decisive arena. For these countries to transition to low-carbon, nature-positive development paths rapidly and at scale, climate and nature strategies must be embedded in mutually […]
There is currently much discussion about President Trump’s tariffs, the US trade deficit, and its causes and impacts, but little in the way of economic modelling to inform the discussion. This column uses a theoretical model of international trade to demonstrate that the US trade deficit might be regarded as the consequence of rational market […]
The world is adjusting to President Trump’s second ‘first hundred days’ in office. This column introduces a new CEPR eBook in which over 50 experts explore how the new administration’s policies are reshaping the US economy and sending ripples across the global economic order. While the assessment is preliminary, in part due to the great […]
In June 2016, Donald Trump justified the protectionist policies during his first administration as “the quickest way to bring our jobs back to our country”. This column shows that while the trade war with China failed to create jobs at home, it did boost employment in Brazil. Regions in the country specialised in industries targeted […]
When the Trump administration pledged to impose “reciprocal tariffs” on countries with “unfair” trade practices, trade economists scrambled to determine what such tariffs might look like. But modelling any tariff-based intervention requires reliable data on what countries actually impose, and this column argues that the tariff data we rely on are incomplete and often wrong. […]
The policies of the Trump administration have put the research environment in the United States under pressure. Public research funding cuts, hostility towards academic freedom, climate science denial and the detaining or exclusion of foreign researchers have unsettled the scientific community in the US. Researchers question the US’s traditional role as a safe haven for […]
Oil prices climbed about 2% to a two-week high on Monday after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world’s two biggest economies. Brent crude futures rose $1.35, or 2.1%, to $65.26 a barrel by 11:39 a.m. EDT (1539 GMT), while U.S. […]
