Until recently the Federal Reserve had been purchasing roughly $120 billion of assets every month to support the US economy. The Fed began scaling back those purchases in November and doubled the pace on Dec. 15.
China is trying to stimulate bank lending – but it also has longer term problems.
Biden reappointed Jerome Powell, seated at left, to head the Fed. Some progressives wanted him replaced with Lael Brainard, seated right.
AP Photo/Manuel Balce Ceneta
After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.
John Kerry, the U.S. presidential special envoy for climate, surrounded by other negotiators during COP26.
UNFCCC
The world promised progress at the Glasgow climate conference. Now it has to turn those promises into reality. A former senior UN official describes what to watch for in the coming year.
People, Planet and Prosperity was on the agenda of the G20 Finance Ministers and Central Bank Governors’ meeting in February 2021.
G20 Italy Finance Media / Handout/Anadolu Agency via Getty Images
Central banks have a responsibility in addressing the challenge of climate change. But how? Experts explore some ideas.
There is a need to educate Nigerians on the difference between the digital representation of cash deposits in bank accounts and the eNaira in digital wallets.
Pius Utomi Ekpei/AFP via Getty Images
Central banking was given to technocrats whose job is to make the difficult decisions. But there are parameters. And within these, central bankers must act independently, without fear or favour.
Unconventional policies can be used to alleviate — instead of exacerbate — inequality, something Canadians are clamouring for. The Bank of Canada needs to rediscover its former innovation zeal.
It even inspired the global TV hit, La Casa de Papel
Netflix
While Trump’s nominee to join the Fed favors returning to the gold standard, an economist explains why the US and the rest of the world abandoned it in the first place.
Yes, the bank would effectively pay you to borrow money. But negative interest rates won’t please savers, nor will they meet the big challenges of economic recovery.
The coronavirus pandemic may provide another incentive for some countries to move to e-currencies.
(Shutterstock)
There’s no indication that handling cash increases your chance of catching COVID-19. But that hasn’t stopped countries around the world from looking at digital currencies.
Creating lots of new money is supposed to produce runaway inflation. The longer that it doesn’t happen, the more this branch of economics appears to have a point.
Distinguished Professor and Derek Schrier and Cecily Cameron Chair in Development Economics, School of Economics and Business Sciences, University of the Witwatersrand