Members in the News

  • The US Economic and Monetary Policy Outlook
  • June 5, 2015


    In a recent speech, President of the Federal Reserve Bank of New York, William Dudley, discusses his expectations of rising Fed rates along with an increase in growth for the remainder of the year. He concluded that forming a solid economic outlook for the year would be challenging until further macroeconomic data are released, but that it will be likely that “conditions will be appropriate to begin monetary policy normalization later this year.”

  • The U.S. Underestimates Growth
  • May 18, 2015


    In an opinion piece for the Wall Street Journal, Martin Feldstein, Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, discusses that inaccuracies in official figures for price inflation and real growth cause an understatement of growth. He advocates changes in tax rules to achieve “faster growth with more capital accumulation, increased labor-force participation, and greater innovation that leads to new products and more efficient means of production.”

  • May 15, 2015


    In a speech at the Yomiuri International Economic Society in Tokyo, Governor of the Bank of Japan, Haruhiko Kuroda, reflects on the two year anniversary of the introduction of Qualitative and Qualitative Monetary Easing (QQE) by the BoJ. He states that "the economic and price situation has improved substantially in Japan." He also discusses the inflation rate as well as the outlook for the Japanese economy.

  • May 8, 2015


    In an opinion piece for Project Syndicate, Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University discusses the importance of alleviating global inequality. In his article, he mentions the "fundamental flaw" apparent in Europe's migration crisis, asserting that a truly progressive society would be in support of equal opportunity for all. Rogoff warns about focusing on only domestic inequality and therefore calls on rich countries to make a difference in combatting global inequality.

  • April 20, 2015


    In a recent speech at the Europlace International Financial Forum in Paris, Christian Noyer, Governor of the Banque de France and Chairman of the Board of Trustees of the Bank for International Settlements, discusses the need for more market-based financing to ensure stability and promote growth. He also notes that "a more balanced funding structure is a necessarily long process, which requires a strong commitment and support from public intervention."

  • April 16, 2015


    In an opinion piece for the Washington Post, Paul A. Volcker, Chairman Emeritus of the Group of Thirty and Former Chairman of the Federal Reserve System, discusses the need for meaningful financial reform. He argues that the structure that failed us in anticipating and responding to the emergency in the last recession is largely still in place. He warns that even with economic growth and progress in shoring up banking regulations with the addition of various oversight bodies, there are still inconsistencies among various regulatory agencies which could create future issues.

  • April 16, 2015


    In an opinion piece for the Financial Times, Philipp Hildebrand, vice-chairman of BlackRock, discusses the need for the European Commission to pay more attention to investors’ perspectives. He notes how the CMU is aiming to remedy the fundamental problem that Europe is overwhelmingly reliant on banks to finance its economic growth, and hardly on capital markets. He indicates that institutional investors and end-investors who will be providing the financing want more simplicity, transparency, adequate incentives, and liquidity.

  • April 5, 2015


    In an opinion piece for the Financial Times, Lawrence Summers, Charles W. Eliot professor at Harvard University, describes that with “the combination of China’s effort to establish the Asian Infrastructure Investment Bank and the failure of the US to persuade dozens of its traditional allies to stay out of it,” the US has lost its role and ability to steer the direction of the global economy. He argues that as part of the US strategy to deal with this issue moving forward, US leaders should work towards bipartisan compromises, strengthen the middle class, and promote investment over imposing austerity.

  • March 27, 2015


    In an opinion piece for Project Syndicate, Martin Feldstein, Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, discusses the recognition by Chinese officials during the annual China Development Forum that "annual real GDP growth has declined permanently from the past three decades' average rate of nearly 10%.” He warns that China has many other economic concerns also, including massive debt owed to local governments, environmental problems, weak performance of state-owned enterprises, and the continuation of restrictions on direct investments by foreigners.

  • March 16, 2015


    In a Project Syndicate article, Adair Turner, Senior Fellow at the Institute for New Economic Thinking, discusses how the Bank of Japan will eventually have to monetize trillions of dollars of government debt. However, due to the culturally and ethnically homogenous nature of Japan, “the probable market reaction will be a collective shrug of the shoulders.” He argues the market should be more concerned with the Eurozone because of its years of increasing unemployment and slow growth.

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