Page 2 - State Leave News Today

By Raghuram G. Rajan and Viral V. Acharya 

Raghuram Rajan and Viral Acharya show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits

CHICAGO — The US Federal Reserve is clearly determined to bring down inflation. But no one really knows how high it will have to raise its policy interest rate, and how long it will have to keep it there, to achieve its objective. Many are thus wondering whether the Fed will bring on a recession.

CHICAGO — The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realise the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it. But there is still a way for the world to improve the chances of more effective action in the future: hit the brakes on

CHICAGO — The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realise the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it. But there is still a way for the world to improve the chances of more effective action in the future: hit the brakes on

CHICAGO  —  In an important speech to the Atlantic Council in April, US Secretary of the Treasury Janet Yellen issued a welcome call for revitalising the world economic order. But she also generated headlines with a single sentence advocating what she called “friend-shoring”: That is, limiting the trade of key inputs to trusted countries in order to reduce risks to the supply

A well-functioning financial system is a key component of any successful economy. Without efficient payments and broadly accessible financial services, people cannot engage easily in commerce, save for a rainy day, invest in new innovations and business models, or insure against risk. But precisely because the financial sector is so central, developments within it are highly

A well-functioning financial system is a key component of any successful economy. Without efficient payments and broadly accessible financial services, people cannot engage easily in commerce, save for a rainy day, invest in new innovations and business models, or insure against risk. But precisely because the financial sector is so central, developments within it are highly

CHICAGO  —  War is horrific, no matter how it is waged. Nevertheless, Russia’s unprovoked attack on Ukraine, with its scenes of Ukrainian civilians being murdered or driven from their homes, undoubtedly had to be opposed. In addition to supplying Ukraine with military weapons, governments around the world have deployed economic weapons against Russia. While Russia, an economic

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