The case for and against responding to investors' tantrums The federal reserve is changing direction. In December it predicted that it would raise the federal funds rate twice in 2019, to 2.75-3.0%. In March it thought it would hold rates steady instead. Investors now think there is a one-in-five chance that it will cut rates at its meeting on June 19th, and a 95% chance that it will do so by Se..
Principles on debt transparency endorsed at a G20 summit may help In 2016 the government of Mozambique confessed to secret debts of $1.4bn, or 11% of GDP, mostly as loan guarantees for state-backed companies. Growth faltered, the currency slumped and foreign donors pulled back. The results have been "devastating", says Denise Namburete, a civil-society activist, describing health centres that ha..
His most enduring legacy will be within the profession For a half-century Martin Feldstein was everywhere you looked in American economics. He was astoundingly prolific columnist, sometimes churning out several a week, for several newspapers, on the big economic stories of the day. He was a fixture at conferences and seminars and the teacher, for two decades, of Harvard university's introductory..