Macroeconomics

Stalling growth and still-ample labor market slack belie increasing market anxiety that the Fed will have to accelerate the pace of interest rate tightening. Retail sales growth this year has declined precipitously from last year’s post...

Strong expenditure growth and tightening labor markets are spooking financial markets by intensifying fears that the Federal Reserve may shift to a faster pace of monetary tightening to stave off inflation. Inflation concerns have...

As the new tax legislation waits for President Trump’s signature, public discussion continues to ignore one of its most important elements: the possibility of increasing productivity by reducing the tax incentive for businesses to increase...

Prosperity means the freedom to take control of your destiny and drive your own outcomes. I am fortunate enough to be part of that small minority of humans who participate in a functioning fiat monetary system. But a mere two generations...

Prosperity means many different things to many different people. For some, it means wealth. For others, health. Or education. Or a sustainable environment. The resources—financial or otherwise—that society needs to make collective progress...

This paper was originally published as part of T20 ARGENTINA. Crypto-Assets (CA) are digital instruments aimed to serve as mediums of exchange that rely on decentralized control and boast the (yet to prove) promise of a revolution in...

With the global economy gaining momentum following its recovery since 2008, and the new U.S. leadership’s refocusing from financial stability efforts to developing blueprints for economic growth, parts of the post-crisis macroprudential...

The Global Opportunity Index (GOI) assesses the attractiveness of potential investment opportunities in key countries. This year’s focus on recent developments in Europe builds on our past research examining capital flows and financial...

The interaction of unconventional U.S. monetary policy by the Fed and regulatory changes by the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC) changed the way foreign banks do business in the U...

In the wake of the 2008 global financial crisis and ensuing regulatory reforms, U.S. banks dramatically altered their sources of funding. Funding from non-deposit sources now accounts for only 13 percent of bank liabilities, compared with...