Monday 21 March 2022 – Vol.13 Ed.12.1
Commentary: Cocktail of private debt and inequality makes US more vulnerable to stagflation
By Julian Jacobs in London
The Ukraine crisis is a portentous event for the global economy. The combination of rising prices and stifled growth is presenting central banks and governments with a dilemma about the possible emergence of stagflationary pressure. Yet the macroeconomic conditions that have left the US economy vulnerable to economic shocks have remained under-discussed. Chief among these is the rise in private debt and wealth inequality.
Read the full commentary on the website.
Commentary: Cryptoasset regulation suffering from lack of consensus
By Douglas Elliott in New York
Billions of dollars are pouring into new ventures that hope to remake the banking and investment world with the help of blockchain-based decentralised finance. Coherent regulation could channel this for the good of society, yet regulators remain divided on a central question: are cryptoassets the beneficiaries of speculative excess, like the tulip mania of the 1630s, or are they 1998-style dot-coms, containing the seeds of a major economic transformation?
Read the full commentary on the website.
