Wednesday, October 1, 2014
  1. Markets’ Rational Complacency

    Nouriel Roubini

    Markets’ Rational Complacency


     asks why global financial markets remain buoyant in the face of mounting geopolitical risks.

    Hong Kong democracy protests Hong Kong/Chris Lusher/ZumaPress

    A century ago, financial markets priced in a very low probability that a major conflict would occur, blissfully ignoring the risks that led to World War I until late in the summer of 1914. Back then, markets were poor at correctly pricing low-probability, high-impact tail risks; they still are. READ MORE

  2. Why the Fed Will Go Faster

    Martin Feldstein

    Why the Fed Will Go Faster


     shows why US interest rates will rise more quickly and higher than official statements imply.

    Janet Yellen Bao Dandan/ZumaPress

    The US Federal Reserve has emphasized that its monetary policy will be determined by what economic indicators show. But that means that the Fed is likely to raise the federal funds rate more rapidly and to a higher level than its recent statements imply. READ MORE

  3. The Third Way's Second Chance

    Andrés Velasco
  4. Europe’s Austerity Zombies

    Joseph E. Stiglitz
  5. Xi Jinping’s Pure Party

    George Magnus

    Xi Jinping’s Pure Party


     argues that rooting out corruption is not enough to ensure China's long-term economic growth.

    Xi Jinping IMF/Flickr

    While the Chinese authorities' efforts to root out corruption within the Communist Party are a welcome development, the Party itself is part of the problem. The true test of change will be whether the Party is prepared to subordinate itself to new, inclusive institutional arrangements that are conducive to comprehensive economic reform. READ MORE

Focal Point

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293 pages

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