How to end the cycle of mistrust between the Treasury and everybody else

The lesson from Manchester is that it takes time for public investment policies to show up in GDP

ft.com

The Bank of England gets with the programme on QT

Four years on, Threadneedle Street finally agrees with the market

ft.com

The real message in the yen intervention

The dollar’s status as a reserve currency is not what it used to be

ft.com

We’ve moved from income world to wealth world

Passive wealth gains increasingly matter more than earnings for one’s standing in society

ft.com

We need humanities more than ever in the age of AI

Subjects like literature, languages and history are vital to a thoughtful and prosperous society

ft.com

Britain does not need looser fiscal rules. It needs better ones

The budget framework needs to be fixed to reward stewardship rather than neglect

ft.com

The Federal Reserve and Bank of England have a trust deficit

Loss of faith in central banks could be driving up long-run inflation expectations

ft.com

Chart of the Week: UK inflation is not distributed equally

The poorest pay the most in an energy shock

ft.com

Developing countries spend more repaying foreign debt than on education, UN reveals

Unesco report shows children lost out to servicing debt in 113 countries, with 18 spending five times more on loans

theguardian.com

The great carbon capture con: behold the wasted billions Burnham could claw back | George Monbiot

There are far better ways to tackle climate breakdown, but successive governments have chosen to listen to the fossil fuel companies instead, says Guardian columnist George Monbiot

theguardian.com

The UK’s falling debt to GDP fiscal rule is a rule to suppress public investment

Let me start by apologising to any regular readers of this blog. None of the arguments in this post are particularly new. But with a new P...

mainlymacro.blogspot.com

Inflation: If they don’t know, now you know?

What fence-sitters can, and can’t, tell us about price increases

ft.com

Taking the measure of the UK as a financial service centre

Turning a data-fuelled quantitative international ranking project into a thing about London

ft.com

How the Iran crisis undermines the Bank’s QT programme

Unlike the previous crises, this time the Bank carried on selling. It is time for a rethink.

ft.com

The massacre America forgot

The events of 1919 had largely been erased in the town of Elaine, Arkansas. Now a new generation is documenting the legacy of racial conflict for itself

ft.com

Trump, the Fed and footnote 8 in the Lisa Cook case

The US president lost round one, but can fire her again if he thinks he has cause

ft.com

Financialization of Nature in Latin America | From Neo-Extractivism to

Highlighting how the financialization-driven economy has played a significant role in exacerbating the climate crisis, particularly in the Global South, this

taylorfrancis.com

Why poor countries won’t restructure

Low-income countries are facing deeper shocks, but are refusing to restructure. Why?

ft.com

Ten tensions in the Kevin Warsh Fed

Task forces cannot find simple solutions to fundamental trade-offs

ft.com

What would a stablecoin run look like?

Fire sales of assets held in reserve could trigger problems in many other financial markets

ft.com

Global imbalances need not lead to trade wars

The world’s benign arithmetic will turn malign if countries do not adjust

ft.com

Is Tether the Coppernose of our time?

USDT vs USDC

ft.com

The ‘new joule order’ is here. The west is last to realise

Electrification is the purchase of optionality and China bought more of it than any nation in history

ft.com

Community, Culture and Council Housing: Mapping Campsbourne Estate - London Festival of Architecture

londonfestivalofarchitecture.org

The Fed is going to have to rethink its global role

Stabilising the finances of another country is a foreign policy decision as well as an economic one

ft.com

The dollar’s decline is overstated — but still real

The most reliable measure of dollar dominance is probably the loans and other dollar obligations created outside US

ft.com

Politicians and the bond markets: lost in translation

Mutual misunderstanding and panicky commentary mask a joint desire to see the UK economy doing better

ft.com

The rise and rise of the IMF’s mysterious ‘other’ reserve currencies

Sing me a song, Mr Reserve Manager

ft.com

Governments need to learn how to talk about debt

They must find a way to tell taxpayers how their money is spent

ft.com

How much value is AI really creating?

Eye-opening changes to the speed and volume of work are not always translating into genuine productivity

ft.com