Even as hedge funds and smaller broker-dealers lean more heavily on the biggest U.S. banks for borrowing in repo markets, the lenders’ cash holdings have been declining, reducing their ability to jump in and relieve pressure when rates spike.
Hoover Institution fellow Elizabeth Economy discusses China’s mounting economic challenges, progress on economic reform efforts, and the likely long-term economic and geopolitical effects of the US-China trade war.
A band of Democratic presidential hopefuls is pitching a tax on wealth as a way to reduce economic inequality while funding ambitious public projects. Adopting one could bring big changes to Silicon Valley, a global hotspot of wealth thanks to the tech industry.
[Subscription required] Paul Volcker, who changed the course of economic history dramatically for the better, died Sunday at 92. He was appointed chairman of the Federal Reserve Board in 1979 by Jimmy Carter and was reappointed in 1983 by Ronald Reagan. But his influence on policy wasn’t limited to his chairmanship of the Fed.
Paul A. Volcker, the powerful Federal Reserve chairman whose grit and determination helped break the back of inflation in the early 1980s and put the American economy on a path to extended growth, died on Sunday at his home in New York. He was 92.
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.