• RT @dfcowan: @PIIE @AdamPosen "Network effects, especially those associated with the internet economy, may entrench the profitability of a…
    Adam Posen Sat 30 May 2020 01:44
  • RT @PIIE: Today’s market exuberance may seem grotesque, but the rising share prices of listed companies reflect the grim underlying reality…
    Adam Posen Fri 29 May 2020 21:49
  • Wall Street and Main Street are on two different planets. @foreignpolicy asked 6 experts why. I say though stocks rising now is grotesque, it reflects the grim reality that the market tracks profits, and profits track deregulation and wage weakness. Link
    Adam Posen Fri 29 May 2020 20:19
    The contrast seems grotesque. A deadly pandemic has shut down the global economy and left millions of workers furloughed, fired, or stranded without gigs. The future for most businesses looks uncertain to dismal. Yet U.S. stock indices are near all-time highs, at giddy valuations comparable to the 2000 dot-com bubble and 1929.
  • RT @voxdotcom: Though Trump tried to walk back his tweet, several prominent segregationists, like former Alabama Gov. George Wallace, have…
    Adam Posen Fri 29 May 2020 20:04
  • RT @GagnonMacro: @TimDuy I think you mean "two month event", but I agree. CARES was designed for a nearly complete rapid rebound by August.…
    Adam Posen Fri 29 May 2020 19:59
  • RT @RobinBrooksIIF: There's a building consensus the Fed should shift to fixed monthly Treasury purchases. That worries me. Look at how 10-…
    Adam Posen Fri 29 May 2020 18:09
  • RT @voxdotcom: Taylor Swift has 6 million more Twitter followers than Trump. She’s telling them to vote him out. Link
    Adam Posen Fri 29 May 2020 18:09

    We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019.

    By choosing I Accept, you consent to our use of cookies and other tracking technologies.

  • RT @JoeNBC: The President is advocating the killing of Americans for property crimes. The head of state is promising to gun down American c…
    Adam Posen Fri 29 May 2020 18:09
  • RT @sophie_e_hill: Harvard Professor Harvey Mansfield, who scolded a WOC by saying listservs aren't for "political statements", once emaile…
    Adam Posen Fri 29 May 2020 18:04
  • RT @Susan_Athey: See Link for work w/ great collaborators (incl. Michael Kremer, @ATabarrok) for more on analysis and pr…
    Adam Posen Fri 29 May 2020 18:04

    We need treatments, diagnostics, and vaccines to address the challenges created by the COVID-19 virus. But without a substantial change to traditional practices, we risk long delays in getting the health technology we need. Vaccines typically take years, even decades to research, develop and distribute, and most vaccine candidates fail. Vaccine manufacturers typically don’t even start to scale up manufacturing capacity until after clinical trials succeed, and even then the process of scaling up requires careful testing and extensive regulatory oversight. Society would benefit enormously if firms could be incentivized to make manufacturing capacity ready to go shortly after safety and efficacy trials conclude. The IMF estimates the economic costs of the crisis to be about $86 billion per week. Since firms capture only a small share of the societal benefits that they create by ending the crisis, there is an important role for government in providing incentives to firms to...

  • RT @bartbonikowski: POTUS preemptively delegitimizng election, 100k preventable deaths, cops continuing to kill black men w impunity, EO mu…
    Adam Posen Fri 29 May 2020 18:04
  • RT @wiiw_news: In case you missed Tuesdays #webinar/panel discussion w/ @AdamPosen @vivienaschmidt & @jafrieden on "the #econ impact of the…
    Adam Posen Fri 29 May 2020 17:04
  • RT @ForeignPolicy: One cannot hold the World Trade Organization accountable for how technological advancements have reduced the share of ma…
    Adam Posen Fri 29 May 2020 11:23
  • RT @vaaranpa: Important piece by @ChadBown and @philipilevy on why int’l #trade problems of the #US (and other countries) would be best add…
    Adam Posen Fri 29 May 2020 11:23
  • RT @PIIE: China's fiscal stimulus is good news, but will it be enough? We explore: Link https://t.co/8bF4QbJEO6
    Adam Posen Fri 29 May 2020 01:28

    The Chinese government unveiled a bigger stimulus package worth at least 4.5 percent of GDP at the outset of the National People’s Congress that began on May 22, after China experienced an unprecedented 6.8 percent year-over-year contraction in its GDP in the first quarter. Rather than repeating its old playbook of relying primarily on credit expansion as it did during the global financial crisis in 2008–10, this year’s Government Work Report reveals that China is leveraging its fiscal policy to revive its economy suffering from the COVID-19 pandemic. This is good news for financial stability, though it may be too early to tell how successful the stimulus will be.

    China has a longstanding practice of placing a ceiling of 3 percent on budget deficits as a share of GDP. This ceiling is now cracking with the deficit-to-GDP ratio in excess of 3.6 percent of GDP this year (see figure below), which means about RMB 1 trillion (US$140.2 billion)[1] will be added to the...

  • RT @jdportes: This is *precisely* the same argument Enoch Powell and others made against Ted Heath's decision to admit Ugandan Asians (Powe…
    Adam Posen Fri 29 May 2020 01:23
  • RT @PIIE: Has the WTO failed? Is multilateralism on trade issues dead? Would the United States be better off outside the WTO? To all th…
    Adam Posen Fri 29 May 2020 01:23
  • RT @sdonnan: It’s not an unimportant number... Almost 7.8m of the >30m receiving benefits are independent contractors and gig workers. That…
    Adam Posen Thu 28 May 2020 17:53
  • RT @PIIE: WEDNESDAY, JUNE 3: The next episode of #PIIETradeWinds with @_AnabelG will feature @AranchaGlezLaya, Spanish Minister of Foreign…
    Adam Posen Thu 28 May 2020 17:48
  • RT @PIIE: Policymakers seem to be taking deliberate steps towards deglobalization in light of the global health & economic crises. This thr…
    Adam Posen Thu 28 May 2020 17:48
  • RT @GagnonMacro: The worst policy is for government at any level to lay off any worker in a recession. States need federal help but they al…
    Adam Posen Thu 28 May 2020 17:48
  • RT @PIIE: China's fiscal stimulus is good news, but will it be enough? We explore: Link https://t.co/TLhiX6bnCh
    Adam Posen Thu 28 May 2020 15:02

    The Chinese government unveiled a bigger stimulus package worth at least 4.5 percent of GDP at the outset of the National People’s Congress that began on May 22, after China experienced an unprecedented 6.8 percent year-over-year contraction in its GDP in the first quarter. Rather than repeating its old playbook of relying primarily on credit expansion as it did during the global financial crisis in 2008–10, this year’s Government Work Report reveals that China is leveraging its fiscal policy to revive its economy suffering from the COVID-19 pandemic. This is good news for financial stability, though it may be too early to tell how successful the stimulus will be.

    China has a longstanding practice of placing a ceiling of 3 percent on budget deficits as a share of GDP. This ceiling is now cracking with the deficit-to-GDP ratio in excess of 3.6 percent of GDP this year (see figure below), which means about RMB 1 trillion (US$140.2 billion)[1] will be added to the...

  • RT @PIIE: #ICYMI: The first episode of #PIIETradeWinds can be watched in full here! Link
    Adam Posen Thu 28 May 2020 15:02

    The Peterson Institute for International Economics debuted Trade Winds, a biweekly virtual event series, on May 22, 2020. Hosted by Anabel González, PIIE nonresident senior fellow, Trade Winds will explore the future of global commerce in the era of the COVID-19 pandemic, including ways that international cooperation on trade can accelerate the recovery.

    The first episode on “Disruption of Global Value Chains and International Trade Cooperation” featured Mary Ng, minister of small business, export promotion and international trade of Canada, Jeffrey J. Schott, PIIE senior fellow, and Stephen de Boer (Canadian Ambassador and Permanent Representative to the WTO). The discussion focused on how the COVID-19 global pandemic has disrupted global value chains in the production of goods and services and what policymakers can do to keep trade lanes and supply chains open.

  • RT @PIIE: China has a longstanding practice of placing a 3% ceiling on its deficit-to-GDP ratio. This ceiling is now cracking with the rati…
    Adam Posen Thu 28 May 2020 15:02
  • RT @PIIE: Read Véron's piece here: Link
    Adam Posen Thu 28 May 2020 15:02

    The financial shock surrounding the COVID-19 pandemic has prompted the Federal Reserve to temporarily loosen an important capital-to-asset ratio requirement for US banks. In so doing, it is walking away from a decade-long commitment to global financial reforms forged in the wake of the global economic meltdown of 2008–10.

    This breach, together with other recent US government actions, may signal a broader departure from the Trump administration’s general adherence in its first three years to international financial standards, an area in which it had not acted against the global rules-based order. The motives for such breaches are not compelling enough to offset the downsides for the global financial system and for the United States itself.

S&P500
VIX
Eurostoxx50
FTSE100
Nikkei 225
TNX (UST10y)
EURUSD
GBPUSD
USDJPY
BTCUSD
Gold spot
Brent
Copper
Last update . Delayed by 15 mins. Prices from Yahoo!