By IMFdirect editors: Socrates’ famous method to develop his students’ intellect was to question them relentlessly in an unending search for contradictions and the truth—or at the very least, a great quote. The method was alive and well among the moderators, panelists and audiences of the IMF’s Spring Meetings seminars that took place alongside official discussions, [...]
Chinese debt concerns are complicated by two structural issues – the rise in borrowing by local governments and the increase in the role of the shadow banking system. Both sectors are testament to Chinese entrepreneurial spirit, but also point to deep problems in China’s financial system. Local But National… Outside of security matters or foreign [...]
The latest weakness in the US stock market raises a question: Is this the start of a bear market or just a correction in an ongoing bull market? For the moment, there’s a good case for arguing that the latest bout of weakness is of a temporary nature. Why? Long-term momentum, although losing altitude, is [...]
Crisis in Crimea
The conflict between Russia and Ukraine escalates, evoking fond memories of the Cold War.
Must ReadGlobal Macro
NEW YORK – The world’s economic, financial, and geopolitical risks are shifting. Some risks now have a lower probability – even if they are not fully extinguished. Others are becoming more likely and important. A year or two ago, six main risks stood at center stage: · A eurozone breakup (including a Greek exit and [...]
At this point, why is the Fed reducing policy accommodation in the first place? ... In short, there seems to be a disconnect between the Fed’s rhetoric and the general policy direction.