Thursday, July 24, 2014
  1. World Affairs

    Putin’s Tipping Point?

    Nina L. Khrushcheva
    World Affairs

    Putin’s Tipping Point?

    3

     draws a parallel between Malaysia Airlines Flight 17 and the Soviet Union's downing of KAL 007.

    Malaysian Airlines crash Dai Tianfang/ZumaPress

    When incompetence in the Kremlin turns murderous, its incumbents can begin to tremble. As news of the downing of Malaysia Airlines Flight 17 over Ukraine trickled into Russia, people with a long memory recalled the Soviet Union’s attack, 31 years ago this September, on Korean Air Lines Flight 007, and its political consequences. READ MORE

  2. Economics

    Fighting the Fed

    Martin Feldstein
    Economics

    Fighting the Fed

    0

     asks whether congressional Republicans are right to seek a monetary-policy rule.

    Janet Yellen Ben Bernanke Fed Chairs Zhang Jun/ZumaPress

    The US Federal Reserve fears that a proposed law requiring it to use a formal rule to guide monetary policy would limit its independence, while the bill’s proponents argue that it would produce more predictable growth with low inflation. Who is right? READ MORE

  3. Economics

    Europe’s Surplus of Stagnation

    Robert Skidelsky
    Economics

    Europe’s Surplus of Stagnation

    1

     takes Germany to task over its refusal to address its massive current-account surplus.

    Euros and Dollar mightykenny/Flickr

    Earlier this month, the chief executive of Airbus called for drastic action by the European Central Bank to reduce the value of the euro against the dollar by about 10%, from a “crazy” $1.35 to between $1.20 and $1.25. But the euro's strong exchange rate is the result of inaction by Germany, not inaction by the ECB. READ MORE

  4. World Affairs

    The New Thirty Years’ War

    Richard N. Haass
  5. Business & Finance

    The Fed in Denial

    Simon Johnson
    Business & Finance

    The Fed in Denial

    2

     is not sure that America's central bank knows how to protect its independence.

    Janet Yellen Bao Dandan/ZumaPress

    Senior US Federal Reserve officials seem to have slipped back into their pre-2008 ways, ignoring concerns about dangerous financial-sector behavior. That is not only unfortunate; it is also dangerous, because the Fed’s political position is much more precarious than its leadership seems to realize. READ MORE

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