Team

Bill Gates says climate activists are wasting their time trying to encourage divestment from companies involved with fossil fuels. The impact on emissions to date, according to Gates, is probably zero. Instead, activists should focus their efforts on backing new technologies that will either slow carbon emissions or reduce their impact on the climate. In short, more…

The European Central Bank (ECB) and the Fed are both worried about stubbornly low inflation and a weakening outlook. They are both signalling that they will turn the policy dial back towards a looser monetary stance. But the differences in the political circumstances and the institutional constraints facing each are stark. They suggest the Fed is much better positioned to…

The consensus underpinning monetary policy in advanced economies over the past 30 years is weakening, with challenges from both the left and the right, and from within the central banking community. The implications are potentially far-reaching, including for institutional arrangements and the independence of central banks. Some central banks are more vulnerable to…

There is a growing body of evidence that suggests corporate market power may be increasing and that this is damaging macroeconomic performance. Moreover, the effects may be strengthening as the market power of some firms becomes more entrenched and capable of exploitation. This, combined with growing political attention in some major economies, means policymakers may come…