Tuesday, September 1, 2015
  1. A Tale of Two Theories

    Jean Pisani-Ferry
  2. Will Americans Become Poorer?

    Martin Feldstein

    Will Americans Become Poorer?


     takes on Robert Gordon's thesis that US economic growth will remain permanently subdued.

    Wall Street New York City Sergi Reboredo/ZumaPress

    Robert Gordon of Northwestern University has launched a lively and important debate about the future rate of US economic growth. But, though Gordon's gloomy assessment of America’s growth prospects deserves to be taken seriously, there are good reasons to reject his argument. READ MORE

  3. A Cautionary History of US Monetary Tightening

    J. Bradford DeLong

    A Cautionary History of US Monetary Tightening


     points out that the last four episodes reduced employment and output far more than anticipated.

    Janet Yellen Ron Sachs/ZumaPress

    The US Federal Reserve has tightened monetary policy four times in the past 40 years, and all four time the impact on the economy was more harmful than expected. As the Fed prepares to tighten monetary policy once again, an examination of this history suggests that the US is about to enter dangerous territory. READ MORE

  4. China’s Political Interventions

    Koichi Hamada
  5. Why the Fed Should Postpone Rate Hikes

    Anders Borg

    Why the Fed Should Postpone Rate Hikes


     warns that policymakers lose credibility when they fail to adapt to changing realities.

    Janet Yellen Yin Bogu/ZumaPress

    As central bankers from around the world gather this week in Jackson Hole for the Federal Reserve’s annual Economic Policy Symposium, one key topic of discussion will be the current global stock-market turmoil. But financial volatility is only one reason why the Fed should not raise interest rates this year. READ MORE

Focal Point

318 pages
318 pages

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