Member Views

Why Central Banks Cannot Fix the State?

There are many high-profile examples these days of shifting the problems of the “state” on to other institutions, thereby placing the latter in impossible situations. Looking at Europe, we see the European Central Bank grappling with widening bond spreads caused by deeply entrenched fiscal problem, such as those facing Italy. No matter how skillfully the ECB operates in bond markets, it cannot substitute for national actions, including those which raise political uncertainty and then increase spreads within the Eurozone.

Why The Macroeconomic Policy Framework Needs An Overhaul: Lessons from Japan and the Great Recession

Paul James Sheard is an Australian-American economist. He is Senior Fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government, after previously being Vice Chairman of S&P Global.

Paul spoke at the Boston Economic Club on why the macroeconomic policy framework needs an overhaul and suggested how.

Why US multilateral leadership was key to the global financial crisis response

Ten years after the onset of the global financial crisis, one of its most under-appreciated legacies is the strong U.S. embrace of multilateralism to address growing financial interlinkages around the world.

Will Climate Talks Finally Yield Real Results?

The upcoming 26th UN Conference of the Parties (COP26) almost feels like a wedding. Set in Glasgow, Scotland, COP26 will bring together negotiators from nearly every country on earth to assess progress in the global fight to stop climate change. British Prime Minister Boris Johnson is hosting. U.S. President Joe Biden has RSVPed yes, as has Australian Prime Minister Scott Morrison and Indian Prime Minister Narendra Modi.

Will the Fed Start Believing in a Soft Landing?

BWC chair William C. Dudley writes on the Federal Reserve updating their Summary of Economic Projections soon, which haven't been "consistent with the soft landing that many in markets are already predicting, so any changes will be significant."

Will the G20 Summit Help India Become the Voice of the Global South?

BWC member Hung Tran writes for the Atlantic Council that "the West... the G7... should do what it can to tilt the balance in India’s favor in its competition against China to become the voice of the Global South, both this year... and next year... in Rio..."

Wirecard is a Wake-up Call on Regulatory Weakness

There is no room for apathy where regulators are involved; we need an investigation into Wirecard, however embarrassing and painful it may be.

WITA’s NextGenTrade® Presents: 21st Century Trade: Digital, Printed

While nations quarrel over sneakers and steel, trade policy is beginning to look beyond shipments of goods, say WITA’s Kenneth I. Levinson and Brunswick’s Robert Moran.

World Bank Presidents: Heavy is the Head that Wears the Crown

Now that Biden-nominated World Bank presidential candidate Ajay Banga has been confirmed, the chatter around Washington (apart from the debt ceiling debacle and the King Charles coronation) is all about whether he will be able to navigate the enormous challenges facing the institution. Banga certainly has a herculean task ahead of him when he takes the reins on June 2.

Xi Jinping Is Done With the Established World Order

BWC member and Atlantic Council "economist Hung Tran argued in a recent report, China aims to 'turn the BRICS group into a support organization for China’s geopolitical agenda' and a 'venue for anti-US political activism.'"