New York Times (June 3)
“If T.P.P. falls apart, China wins. It’s as simple as that. Nonratification would signal that Beijing gets to dictate policy in the region…. “Like the best trade accords, the Trans-Pacific Partnership is also a strategic boost to liberty and stability in the fastest-growing part of the globe. Congress should resist populist ranting and ratify it.”
Tags: China, Congress, Liberty, Nonratification, Policy, Populists, Ratify, Stability, Strategic, T.P.P., Trade accords
Institutional Investor (April 27)
With no major changes resulting at the Federal Open Market Committee (FOMC), “it’s easy to overlook the seismic shifts going on just beneath the surface that will impact policy and markets for the remainder of 2016.” The “astounding number of mixed signals and conflicting messages” emanating from Fed speakers of late is one clue to the divisions on the committee and the uncertainty regarding the U.S. economy.
Wall Street Journal (March 23)
“French voters still don’t have a convincing pro-growth option.” While “Sunday’s first round of voting in French municipal elections won’t much affect national policy… it does send a signal about where the electorate stands.” The majority voted “for manifestos that would consign France to more economic stagnation.”
Tags: Economic stagnation, Elections, France, Manifestos, Policy, Pro-growth, Voters
Institutional Investor (March 18)
“Market sentiment today hinges almost entirely on the Federal Open Market Committee’s announcement this afternoon. The anticipation of any change in wording to policy means investors are again ready to rethink what a new market reality may look liked as the process of policy normalization begins.”
Tags: Announcement, Anticipation, FOMC, Investors, Market, Normalization, Policy, Sentiment
New York Times (November 6)
“The Democratic brand did not fare well” in Tuesday’s elections that broadly swept conservative Republican candidates into office. When asked to vote on policy issues, however, “voters made notably liberal decisions in both red and blue states,” passing liberal initiatives ranging from environmental initiatives and gun control measures to legalizing marijuana. These initiatives “were directly at odds with the positions of many of the Republican winners.”
Tags: Conservative, Democrats, Elections, Environment, Gun control, Liberal, Marijuana, Policy, Republicans, U.S.
Los Angeles Times (March 28)
“California ought to learn from the experience of Australia, the driest continent on Earth, with a broadly similar economy.” California has been reeling from perpetual water shortages: the result of a flawed water policy. California “uses enough water in an average year to support, in theory, 318 million Californians (and their lawns and dishwashers), more than eight times the actual population of 38 million.”
Tags: Australia, California, Dishwashers, Dry, Economy, Lawns, Policy, Population, Shortages, Water
Euromoney (November Issue)
“Janet Yellen is eminently well qualified to lead the Federal Reserve. But investors should not assume that continuation of policy as normal comes without risk. Her dovish stance on inflation is worth noting and hedging against.”
Tags: Dovish, Federal Reserve, Hedging, Inflation, Investors, Janet Yellen, Policy, Qualified, Risk
Washington Post (September 16)
Acknowledging he was tainted, Lawrence Summers withdrew from consideration for appointment as Federal Reserve chairman. Global markets surged as the dovish Janet Yellen now looks better positioned to win the influential post. “Shed no tears” for Larry. “Though brilliant, the Harvard economist has nonetheless ticked off too many people in his long and brash career, not only on policy grounds but also because of his famously caustic personality. Note to future careerists: Niceness counts.”
Tags: Career, Chairman, Economist, Federal Reserve, Global markets, Harvard, Janet Yellen, Lawrence Summers, Niceness, Personality, Policy
Euromoney (July 9)
“The new Chinese government’s policy drive to deleverage the banking sector has become more apparent, and that deleveraging will continue to unfold in the next six to 12 months. In what Morgan Stanley calls its ‘super-bear scenario’, it estimates that aggressive policy tightening will reduce Chinese GDP growth to an annual rate of 5.5% in the second half of this year.” If the scenario plays out (a one in ten chance according to Morgan Stanley), it “would have major implications for global markets.”
Tags: Banking sector, China, Deleveraging, GDP, Global markets, Government, Growth, Morgan Stanley, Policy, Scenario, Super-bear
Financial Times (May 19, 2013)
“Europe’s recent lamentable growth numbers bring home the cost of poor policy. But after years of confusion, distraction and errors, eurozone leaders are focusing on the right task, as finance ministers did in their meeting last week: to build a banking union for the euro.”
Tags: Banking union, Errors, euro, Europe, eurozone, Finance ministers, Growth, Policy
