NEW YORK – In a typical modern nation-state, the public sector accounts for a larger share of economic activity than any other economic actor.

NEW YORK — On August 30, 2023, the US Federal Reserve System’s Consolidated Statement of Condition recorded total capital of $42.72 billion.

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.

NEW YORK — On January 19, 2023, the stock of outstanding US federal debt reached $31.4 trillion, technically bumping up against the statutory “debt ceiling”.

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 return toward their extremely low pr

 NEW YORK — When a market liquidity and/or funding liquidity crisis occurs at a moment when inflation is above-target, tension between the objectives of central banks, price stability and financial stability, is inevitable.

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.

NEW YORK  —  It has finally arrived. The European Central Bank (ECB) has launched a Transmission Protection Instrument (TPI) to prevent monetary policy fragmentation within the eurozone.

NEW YORK  —  Financial markets do not seem to be pricing in the full risks of Russia’s invasion of Ukraine.