Showing 1 - 8 of 8
Is a global recession really coming up?
Oped, Jeffrey Frankel, Published on 19/01/2023
» The world's leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year 2022 end, the global slump has been postponed to the present 2023.
Let the WTO referee carbon border taxes
Oped, Jeffrey Frankel, Published on 08/12/2022
» Perhaps the most important task confronting the international order is the enforcement of national limits on greenhouse-gas emissions, such as those that were negotiated in the 2015 Paris agreement. Carbon border adjustments could give these limits teeth, but fair application requires a revived World Trade Organization.
The secret of the greenback's appreciation
News, Jeffrey Frankel, Published on 24/09/2022
» Despite rampant inflation and slowing growth, the US dollar keeps going from strength to strength. Since May last year, the greenback has risen by 28% against the yen and 20% against the pound. In addition, it has appreciated 19% against the euro, reaching parity for the first time since 2002.
International trade: Is it a help or a hindrance?
Oped, Jeffrey Frankel, Published on 22/06/2022
» Leading economies have been afflicted with new problems over the past year. The United States is struggling with both supply-chain blockages and a critical shortage of baby formula. The European Union faces the threat of scarce energy supplies, owing to sanctions on Russian fossil-fuel exports. And almost all countries are experiencing high inflation.
Get ready for 'reverse currency wars' phenomenon
News, Jeffrey Frankel, Published on 06/06/2022
» The US dollar is up 12% against the euro over the past year and, at €0.93 (34.22 baht), is approaching parity. If prices of oil and other commodities now seem high in dollar terms, they look even higher in euros. With the greenback surging, and inflation in many countries currently at multi-decade highs, we may be entering so-called "reverse currency wars" -- in which countries compete to strengthen their currencies' foreign-exchange values.
Fighting the 'last inflation war' once again
Oped, Jeffrey Frankel, Published on 04/03/2022
» In 1955, then-US Federal Reserve chair William McChesney Martin famously said that the Fed's job was to take away the punch bowl "just when the party was really warming up", rather than waiting until the revellers were drunk and raucous. Decades later, in the aftermath of 1970s inflation, it became an article of faith among monetary policymakers that they should not wait until elevated inflation showed its face before reining in an overheating economy. Today, with inflation surging, they are developing a renewed appreciation for the punch-bowl metaphor.
Democrats no strangers to tariffs
News, Jeffrey Frankel, Published on 15/06/2018
» US President Donald Trump's aggressive approach to trade, which was on stark display at last week's G7 summit in Quebec, has elicited widespread derision. Critics point out that his tariffs hurt the domestic economy -- by raising costs for consumers and producers, and reducing foreign sales of farmers and other exporters -- while undermining America's relationships with its own allies. But there is one point that many observers get wrong: contrary to popular belief, Mr Trump's tariffs are not an unprecedented departure from historical Republican orthodoxy.
Obama leaves with higher rating than predecessors
News, Jeffrey Frankel, Published on 16/01/2017
» Any assessment of Barack Obama's eight-year US presidency should start at the beginning: His first inauguration, on Jan 20, 2009. The US economy was in free-fall: Financial markets had seized up, GDP was shrinking, and employment was plummeting, with some 800,000 jobs being lost each month. And two ill-conceived and badly executed foreign wars were under way.