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Ensuring a stronger and fairer global recovery Apr 10,2021 - Last updated at Apr 10,2021 CAMBRIDGE — An old joke about tricky trade-offs asks you to imagine your worst enemy driving over a cliff in your brand-new car. Would you be happy about the demise of your enemy or sad about the destruction of your car? For many, the shape of this year’s hoped-for and much-needed global economic recovery poses a similar dilemma. Absent a revamp of both national policies and international coordination, the significant pickup in growth expected in 2021 will be very uneven, both across and within countr...

The US recovery’s promising moment Apr 04,2021 - Last updated at Apr 04,2021 LAGUNA BEACH — President Joe Biden’s announcement that the US will have enough COVID-19 vaccines for every American by the end of May has contributed to a rising tide of optimism about the country’s economic prospects this year. This, and other good reasons to be hopeful about the economy, opens a valuable window for the administration to address the complex policy challenges it is facing in 2021 and beyond. On the positive side, Biden’s vaccine announcement came on the heels of economic data that beat the ...

Joe Biden’s Pressure On Saudi Arabia Has High Stakes Washington should have every interest in nurturing Riyadh’s current course, and ample reason to fear the potential consequences of nudging it in the opposite direction. Last week, the White House decided to publicly release a long-suppressed intelligence report pinning the blame on the Kingdom of Saudi Arabia’s de facto ruler, Crown Prince Mohammed Bin Salman, for the 2018 death of dissident journalist Jamal Khashoggi. On the heels of the disclosure, the U.S. Treasury Department leveled new sanctions against a slew of high-ranking in...

England’s lockdown lessons Jan 27,2021 - Last updated at Jan 27,2021 CAMBRIDGE — UK Prime Minister Boris Johnson’s recent warning that the lifting of England’s current third lockdown will be no “great open Sesame”, despite the fall in infections and the encouraging progress of the country’s COVID-19 vaccination programme, should come as no surprise to anyone who has been following the underlying dynamics of the virus. So, why did Johnson’s government not take this approach during the country’s first two lockdowns? Although some remain inclined to point the finger at the gove...

Rising Treasury Yields Flash a Warning Sign Mohamed A. El-Erian, Bloomberg News A traffic light signals yellow in front of the White House before U.S. President Barack Obama's State of the Union address in Washington, D.C., U.S., on Tuesday, Jan. 25, 2011. Obama will propose tonight a five-year freeze of non-security discretionary spending as a way to reduce the federal government's budget deficit. , Photographer: Bloomberg/Bloomberg (Bloomberg Opinion) -- U.S. government bond yields have registered some notable moves in the first few days o...