Syndicate content

Monetary Policy

Commentary

What Quantitative Easing Couldn't Do

It staved off crisis. But the risk of "debt deflation" remains real.

Russia's Sliding Ruble

They're not running for the exits--yet.

ECB Struggles Mirror EU Power Shifts

Germany has grown more important—and publics have been more attuned to national, not collective, interests.

Essays

All Roads Lead to Berlin

Germany is no longer Europe’s most troublesome player. It’s now an indispensable nation. The power of this transformation is personified by Chancellor Angela Merkel and her delicate political and diplomatic balancing act.

U.S. Debt Culture and the Dollar's Fate

If the United States cannot get its fiscal house in order, the dollar’s privileged position as the world’s reserve currency may be at risk—at a time when there seem to be few if any plausible alternatives.

The No-Growth Trap

Without economic recovery there is no political consensus; without political consensus there is no economic recovery. If Washington fails to overcome its current stalemate, a long period of monetary stagnation and moral decline will set in.

Mr. Bernanke Goes to War

Finance ministers around the world are up in arms over the Fed's latest efforts to jump-start the anemic U.S. economy. The future of globalization hangs in the balance.

The Boldness of Charles Evans Hughes

The advent of a new historical epoch requires boldness in foreign policy architecture. Though less studied than the post-World War II master builders, Charles Evans Hughes' effort after World War I is a worthy case in point.

Talking Turkey

Europe has long viewed Turkey as a parent would a troubled stepchild. But a vibrant and increasingly powerful Turkey is making such an attitude absurd--and dangerous.

Books & Reviews

The Priesthood of Central Bankers

Central bankers have amassed unprecedented power, and yet lack serious political counterweights.

First Bank of the Living Dead

As the Great Recession gnaws at our very belief in the ability of capitalism to raise us to ever-escalating levels of wealth and prosperity, Keynes's no-longer-viable financial prescriptions are being resurrected.

Shaking the Invisible Hand

The chances of another cycle of optimism, overconfidence, hubris, panic and a long period of pessimism are high.

Follow The National Interest

April 20, 2014