Argentina has voted for change. Alberto Fernández, a 60-year-old lawyer, defeated President Mauricio Macri with a campaign emphasizing economic recovery, social inclusion and national unity.
To understand an economic reality where growth is increasingly more qualitative than quantitative and where environmental constraints need a careful understanding, economics needs a major overhaul.
President Trump has discussed firing Fed Chair Jerome Powell over the central bank’s interest rate policies. Research shows this kind of political meddling is usually bad for the economy.
Most South Africans think prices are rising much faster than is actually the case. This makes the central bank’s job of managing inflation expectations much harder.
The Fed is in a tricky position as it signals it may soon cut interest rates to boost the economy, which also risks spurring runaway inflation and even an economic downturn.
Inflation has barely been within the Governor Philip Lowe’s target band his entire time in office. Zero inflation means he should cut now, before the election.
When an elected leader turns autocratic, the economy tends to suffer. That’s because, in a functioning democracy, economic policy is made jointly, with lawmakers playing a key role.