Greg Ip
Chief economics commentator for The Wall Street Journal. A fox, not a hedgehog. On Blue Sky at https://t.co/6apJXzev2s
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A lot to like in this thread by @michaelxpettis. Keynes in 1930-31 favored tariffs as a fourth best solution to Britain's unemployment. First best was devaluation, but UK seemed de...
1/@JakeSullivan46's new article in Foreign Affairs is the de facto Biden Doctrine. He shows how Biden's foreign policy choices represent his approach to sustaining American power i...
So as I understand it, the point of QE was to take duration out of the market by replacing a long term asset (bond) with a short-term one (reserves). QT slowly puts duration back....
Real rates are still very low, and that can't last if inflation stays stubborn. Today's column explores what that means. First, I note that while real bond yields are no longer neg...
Some of the optimistic stories circulating on inflation and recession look more like wishful thinking than a tough-minded appraisal of the Fedβs task. I examine them here. https://...