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Written by Seth Lipsky
- The Wall Street Journal |
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Tuesday, March 26, 2013 |
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As the Federal Reserve approaches its 100th anniversary in December, the focus of monetary reform centers on a bill called the Centennial Monetary Commission Act. Introduced this month in the House of Representatives by Chairman of the Joint Economic Committee Kevin Brady, the bill would "establish a commission to examine the United States monetary policy, evaluate alternative monetary regimes, and recommend a course for monetary policy going forward."
Mr. Brady's bill is not the kind of direct attack on the Fed Read more |
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Written by Fiona Law
- The Wall Street Journal |
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Thursday, March 21, 2013 |
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The use of China's yuan abroad is rising as Beijing slowly loosens its grip and allows a wider group of investors to buy the nation's currency, stocks and bonds.
The offshore yuan in Hong Kong, where the currency is freely traded, is near the highest in a month partly because investors are taking advantage of a slight relaxation in rules on its capital markets. Last week, Beijing allowed Hong Kong units of Chinese banks and insurers, as well as Hong Kong-registered financial institutions, to invest in China's stocks Read more |
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Written by Tom Orlik
- The Wall Street Journal |
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Friday, March 08, 2013 |
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Central banks in Japan and the U.K. have turned to a new guard for a change of direction. But China's sticking with an old hand to address new policy challenges.
Zhou Xiaochuan's been China's central bank governor since 2002 and may stay longer. The defining feature of his first decade at the helm of monetary policy was a burgeoning current-account surplus—that peaked at 10.1% of gross domestic product in 2007.
The central bank's job was to soak up those inflows to prevent inflation and asset-price bubbles. Central Read more |
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Written by Benn Steil
- The Wall Street Journal |
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Friday, March 08, 2013 |
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China, Japan and South Korea agree on little these days. Yet they seem increasingly united in the belief that their economic sovereignty—their ability to control inflows and outflows of capital, and the consequences for their economies—is hostage to imprudent policy innovations coming from the U.S. Federal Reserve.
In December, Japanese Prime Minister Shinzo Abe observed critically that "Central banks around the world are printing money. . . . America is the prime example. If it goes on like this, the yen will inevitably Read more |
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Written by Brian M. Carney
- THe Wall Street Journal |
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Thursday, February 28, 2013 |
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Seventeen years ago, Bernard Connolly foretold the misery that awaited the European Union. Given that he was an instrumental figure in the EU bureaucracy and publicly expressed his doubts in a book called "The Rotten Heart of Europe," he was promptly fired. Mr. Connolly takes no pleasure now in having seen his prediction come true. And he takes no comfort in the view, prevalent in many quarters, that the EU has passed through the worst of its crisis and is on the cusp of revival.
As far as Mr. Connolly is concerned, Read more |
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