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What won’t be in the strategy review
The divergence between a decisive Fed and a more hesitant ECB is an interesting debate but it hides the fact that on both sides of the Atlantic monetary policy through its traditional transmission ch ...
Holidays over for policymakers
The announcement of more fiscal stimulus contrasts with the emergence of disciplinarian noises here and there. The debate on tax hikes in the UK reflects idiosyncratic stress as the probability of no ...
Pushing with a longer string
The European covid relapse is a concern, but the US example suggests the pandemic can be curbed with less mobility loss than in March/April.
Beyond the deal
Comments may focus this week on a deeper recession in Europe than in the US in Q2, but the opposite picture is emerging for Q3
Waiting for the parachute to open
Given Europe’s still daunting economic challenges ahead, long-haul “federal” fiscal support is crucial. Unfortunately, we are still waiting for the outcome of the Recovery and Resiliance Fund negotia ...
Macrocast Podcast #16 - Fiscal forward guidance needed
Fiscal forward guidance needed
The US handling of the covid pandemic continues to be our main focus.
Macrocast Podcast #15 - US Policy-makers looking for a plan B
US Policy-makers looking for a plan B
The impact on US activity of states delaying reopening or re-imposing restrictions is starting to show in some real-time data