Tuesday, January 27, 2015
  1. The Lemmings of QE

    Stephen S. Roach

    The Lemmings of QE

    8

     questions the European Central Bank's decision to launch quantitative easing.

    printed euro notes Alfredas Pliadis/ZumaPress

    Predictably, the European Central Bank has joined the world’s other major monetary authorities in the greatest experiment in the history of central banking: large-scale quantitative easing. But careful analysis of QE's impact so far should give the ECB pause. READ MORE

  2. The ECB’s New Macroeconomic Realism

    Jeffrey D. Sachs

    The ECB’s New Macroeconomic Realism

    17

     supports the decision to launch quantitative easing and takes on those who oppose it.

    euro currency yokocantspell/Flickr

    The European Central Bank has finally crossed the Rubicon and launched a bold policy of quantitative easing, which may help arrest Europe’s slide into stagnation. Even if it is not an effective growth strategy, QE should be welcomed; indeed, the ECB should be encouraged to do everything in its power to ease monetary conditions. READ MORE

  3. Making Sense of the Swiss Shock

    Markus Brunnermeier

    Making Sense of the Swiss Shock

    &  apply some historical lessons to Switzerland's abrupt decision to abandon the franc's euro peg.

    Swiss francs Storm Crypt/Flickr

    For years, policymakers have been wondering whether the exit of a small, fiscally weak country like Greece could undermine the euro. Now, policymakers will have to deal with even bigger risks, stemming from the exit of a small, fiscally strong country that is not even a member of the European Union. READ MORE

  4. The Big Banks Are Back

    Mark Roe

    The Big Banks Are Back

    1

     worries that the rollback of the Dodd-Frank Act signals the weakening of US financial regulation.

    Bank of California Roger/Flickr

    Last month, the US Congress acquiesced to Citigroup’s lobbying and repealed a key provision of the 2010 Dodd-Frank Act: the rule that prohibits banks from trading derivatives. Without this rule, the law's ability to prevent another financial crisis has been severely compromised. READ MORE

  5. Preparing for the Unknown Unknowns

    Lucy P. Marcus

    Preparing for the Unknown Unknowns

    6

     says that in perilous times, resilience is at a premium.

    risk Marquette LaForest/Flickr

    In perilous times, when the emergence, timing, and diffusion of risks can have a paralyzing effect, what matters is not simply what we accomplish, but how we accomplish it. And what matters most is how much stronger, more capable, and more resilient we help our colleagues, partners, children, and fellow citizens to become. READ MORE

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