The US Economy Will Thrive in Spite of Trumponomics
NEW YORK – Since Donald Trump’s “Liberation Day” on April 2, when he announced sweeping trade tariffs on friend and foe alike, the conventional wisdom about the US economy’s short-term and medium- to long-term prospects has been pessimistic. Higher tariffs will cause a US and global recession; US exceptionalism is over; America’s fiscal and current-account […]
Money Will Not Be Revolutionized
NEW YORK – What does the future hold for money and payment systems? While it will surely feature unprecedented technologies, foreseeing the full picture requires historical context. Traditionally, money and payment systems have run on a combination of base money (issued by a central bank) and private-sector money, typically issued by commercial banks through demand […]