Prof. Daron Acemoglu speaks with New York Times reporter Patricia Cohen about various factors influencing the global economy, including “the revolution in artificial intelligence, rapidly aging populations, climate change, and a worldwide turn against liberal democracy and a rules-based international order.” Acemoglu explains that: “We are living through a singularly turbulent time.”
Writing for the Financial Times, Prof. Kristin Forbes emphasizes the importance of central banks reducing their balance sheets during economic recoveries. “Now is an opportune moment to use their balance sheets to fight inflation while supporting a balanced and sustainable recovery,” writes Forbes.
Prof. Kristin J. Forbes has found that "those parts of the consumer-price index influenced by global factors, such as commodity prices, currency fluctuations and global value chains, drove half the changes in the index between 2015 and 2017, up from about 25% in the early 1990s," reports Yuka Hayashi for The Wall Street Journal.
Prof. Chris Knittel speaks with Stacey Vanek Smith on The Indicator from Planet Money podcast about the high price of oil and what that means for electric vehicles. “If everybody believed EVs were taking over next year, we would see oil prices tank now,” says Knittel. “The fact that they’re not tanking suggests that the markets think there’ll be sustained demand for oil for quite some time.”
Prof. Kristin Forbes discusses monetary policy, currency wars and what she considers the biggest risk to the global economy with Daybreak Asia on Bloomberg TV. “For me, the biggest concern is what happens next on trade wars and especially the uncertainty around trade wars,” says Forbes.
In an article for Fortune, Senior Lecturer Robert Pozen argues that the Federal Reserve should not lower interest rates. “When the U.S. economy falls into the next recession, as it inevitably must, the Federal Reserve needs to respond by sharply lowering interest rates,” writes Pozen. “However, U.S. interest rates are now so low that the Fed has little dry powder in its arsenal.”
Prof. David Singer weighs in on the Federal Reserve’s decision to raise its target interest rate in this article for The Conversation. Singer writes that, “a less appreciated facet of liftoff is that the Fed’s balance sheet is now so large that raising interest rates is logistically and mechanically challenging.”
Reuters reports on Professor Kristin Forbes’ appointment to the Bank of England’s Monetary Policy Committee. "Dr Kristin Forbes is an economist of outstanding ability with real practical experience of policy making," says Chancellor of the Exchequer George Osborn.
Chancellor of the Exchequer George Osborn has appointed Professor Kristin Forbes to the Bank of England’s Monetary Policy Committee, writes Asa Bennett for The Huffington Post UK. Forbes is the second woman appointed to the committee under Osborn.
“Kristin Forbes, a former economic adviser to George Bush, is to break the all-male stranglehold on interest-rate setting in the UK when she becomes a member of the Bank of England's monetary policy committee in July,” writes Larry Elliot of The Guardian.
“Kristin Forbes, a professor of management and global economics at the Massachusetts Institute of Technology, will join the MPC for its July meeting, completing an almost wholesale transformation of the committee’s membership within a year,” write Chris Giles and Emily Cadman for The Financial Times.
Jennifer Ryan and Emma Charlton of Bloomberg News report that Professor Kristin Forbes has been appointed to the Bank of England’s Monetary Policy Committee. Forbes previously worked for the U.S. Treasury during the Bush administration and was the youngest member ever on the White House Council of Economic Advisers.
“Now professor of management and global economics at MIT Sloan, Ms Forbes was the youngest-ever person appointed to the White House's Council of Economic Advisors, where she served President George W Bush from 2003 to 2005,” reports The BBC on Professor Kristin Forbes’ appointment to the Bank of England’s Monetary Policy Committee.
Professor Kristin Forbes has been appointed to the Bank of England’s Monetary Policy committee writes Jason Douglas for The Wall Street Journal. “She will make an exceptionally strong addition to the MPC," said Chancellor of the Exchequer George Osborne in a statement.