NEW HAVEN  —  Poor Jerome Powell. With US inflation close to a 40-year high, the Federal Reserve (Fed) chair knows what he needs to do. He has professed great admiration for Paul Volcker, his 1980s-era predecessor, as a role model.

NEW HAVEN  —  I should have listened to Alan Greenspan, at least when it comes to currency forecasting.

NEW HAVEN  —  The predictable downward revision cycle for the global economic outlook has officially begun.

NEW HAVEN  —  My recent commentary, “Only China Can Stop Russia,” stirred up strong arguments on both sides of the increasingly contentious debate over the horrific war in Ukraine.

NEW HAVEN  —  The US Federal Reserve has turned on a dime, an uncharacteristic about-face for an institution long noted for slow and deliberate shifts in monetary policy.

NEW HAVEN — The transitory inflation debate in the United States is over. The upsurge in US inflation has turned into something far worse than the Federal Reserve (Fed) expected. Perpetually optimistic financial markets are taking this largely in stride.

NEW HAVEN — Memories can be tricky. I have long been haunted by the inflation of the 1970s. Fifty years ago, when I had just started my career as a professional economist at the Federal Reserve (Fed), I was witness to the birth of the Great Inflation as a Fed insider.

NEW HAVEN — I have been in the economic forecasting business for close to 50 years. I got my start in the early 1970s, on the research staff at the Federal Reserve (Fed) in Washington, DC, before taking my crystal ball to Wall Street for over 30 years.

NEW HAVEN  —  As the second vaccine shot went into my arm, I could almost taste the instant gratification of deferred desires.