Home NewsComment Biden needs to act fast with economic plan, Financial stability in Europe, and more

Biden needs to act fast with economic plan, Financial stability in Europe, and more

by admin

Biden needs to act fast with economic plan, Financial stability in Europe, and more


Latest opinion and analysis from OMFIF around the world

18-22 January 2021, Vol.12 Ed.3

Most-Read Commentary

Biden needs to act fast with economic plan: President Joe Biden has tabled his near-term US rescue plan and surprised many with a $1.9tn economic relief proposal. It was facilitated by the Democratic party securing the Senate majority with victories in Georgia. While Biden is now better positioned to advance his agenda, many ambitious aspirations may be unattainable. There is much uncertainty. Following US macroeconomic policy in 2021 will not be for the faint-hearted, writes Mark Sobel. 

Read more.

Financial stability in Europe: Dimitri Demekas, visiting senior fellow at the Institute of Global Affairs and special adviser to the Bank of England, and Ludger Schuknecht, former chief economist of the German ministry of finance and deputy secretary-general at the OECD, join Danae Kyriakopoulou, chief economist of OMFIF, to discuss European financial stability. Listen.

Outlook 2021
Rising public debt won’t spark difficulties: Fiscal efforts to contain the fallout of the Covid-19 pandemic are already fuelling controversy. Yet, fiscal adjustments of less than 4% of GDP would close the debt sustainability gap in most countries. Rising debt levels alone won’t drive a country into difficulties – the currency regime plays an important role, writes Christian Kopf. Read more.
US, China must act to avoid monetary breakdown : Central banks are exerting ever-greater control over financial markets. This is part of an era of debt-fuelled state capitalism that is looking vulnerable. The system needs a reset. Anything Biden undertakes in this field will fail unless the US involves China in a meaningful way, write Willem Middelkoop and David Marsh. Read more.

Boston Fed’s CBDC project: In August 2020, the Boston Fed, in collaboration with MIT, announced that it would research and test leading technologies to determine design requirements for a US-based central bank digital currency. Jim Cunha, senior vice-president, secure payments and fintech, at the Federal Reserve Bank of Boston, discusses this initiative. Watch

You may also like

Leave a Comment