From banks to nonbanks: Macroprudential and monetary policy effects on corporate lending
The growing footprint of nonbank financial institutions in corporate credit markets raises important – but often overlooked – questions about how monetary and macroprudential policies
Trump tariff policy, uncertainty, and the role of economics
President Trump’s tariff policy is shaking the global economy and generating high levels of trade policy uncertainty. This column challenges the economic reasoning behind recent
Why monetary policy should crack down harder during high inflation
The recent surge in inflation has led to a significant increase in the frequency of price changes. This column argues that price flexibility has an
Monetary policy spillovers in the global economy
Over and over in the history of the international monetary system, national policymakers have pointed to – and voiced concerns about – the effects of
