Views from the Members

Warren Coats: A proposal for the Fed’s balance sheet

To save financial institutions from the collapse that threatened them after the bankruptcy of Lehman Brothers in September 2008, the Federal Reserve purchased government securities and Mortgage Backed Securities (MBS) sufficient to increase the size of its asset holdings from $0.9 trillion to $4.5 trillion by the end of 2014.

Gail D. Fosler: Addressing Global Agreements in Digital Trade

Gail D. Fosler is president, The GailFosler Group LLC, a strategic advisory service for global business leaders and public policymakers. The GailFosler Group provides in-depth analysis of economic, financial and public policy issues and creates new concepts and frameworks for business and government leaders to support successful decision making.

James Manyika and Susan Lund: Digital Protectionism and Barriers to International Data Flows

James Manyika is a senior partner at McKinsey & Company and chairman and director of the McKinsey Global Institute (MGI), the firm’s business and economics research arm. James also serves as a member of McKinsey’s Shareholders Council (the Firm’s Board of Directors).

Dr. Susan Lund is a partner of McKinsey & Company and a leader of the McKinsey Global Institute. As a Ph.D. economist, her research focuses on technology, labor markets, and globalization.

Mark R. Yzaguirre: Did We Really Think The Postwar Liberal Order Would Last Forever?

In January of 2017, I wrote a piece at the Hill suggesting that then-incoming President Trump’s foreign policy, while seemingly chaotic and unpredictable, actually had a basic underlying rationale.

Here is what I wrote at the time:

Nouriel Roubini: Italy’s Slow-Motion Euro Train Wreck

NEW YORK – The arrival in power of a populist, Euroskeptic government in Italy has focused investors’ minds like few other events this year. The yield differential, or spread, between Italian and German bonds has widened sharply, indicating that investors view Italy as a riskier bet. And Italian equity prices have fallen – particularly in domestic bank shares, the best proxy of country risk – while insurance premia against a sovereign default have increased.

George Soros: Remarks delivered at the European Council on Foreign Relations

LONDON – The European Union is mired in an existential crisis. For the past decade, everything that could go wrong has gone wrong. How did a political project that has underpinned Europe’s postwar peace and prosperity arrive at this point?

In my youth, a small band of visionaries led by Jean Monnet transformed the European Coal and Steel Community first into the European Common Market and then the EU. People of my generation were enthusiastic supporters of the process.

Dan Runde: Modernizing Development Finance

Daniel F. Runde, William A. Schreyer Chair and director of the Project on Prosperity and Development, testified before the Senate Committee on Foreign Relations on “Modernizing Development Finance."

Please see here to watch Dan Runde's full testimony.

Scott Morris: Trump’s Treasury Delivers at the World Bank: More Capital for Climate, Solid Policy Framework

Scott Morris is a senior fellow at the Center for Global Development and director of the US Development Policy Initiative. Additionally, he works on issues related to the International Financial Institutions (IFIs) and particularly the relationship between the IFIs and the United States. Morris served as deputy assistant secretary for development finance and debt at the US Treasury Department during the first term of the Obama Administration.

Lord Adair Turner: The Low Costs of a Zero-Carbon Economy

Adair Turner, a former chairman of the United Kingdom's Financial Services Authority and former member of the UK's Financial Policy Committee, is Chairman of the Institute for New Economic Thinking. His latest book is Between Debt and the Devil.

As originally published on Project Syndicate.

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