March
Inside the sudden exit of a central bank governor
The aggressively nationalist Kiwi central bank boss Adrian Orr deliberately pushed New Zealand into recession. Australian bankers hope his sudden exit will give them some relief.
October 2024
Why the RBA has a massive public education job to do
Inflation is high because of the stimulus that Canberra and the RBA poured on in the pandemic. But the public struggles to understand this.
April 2024
![Former US Fed chairman Ben Bernanke put it bluntly: “It’s important to have people in key areas [who] understand the details and can stand up to an MPC member and say: ‘no, you’re wrong’.”](https://static.ffx.io/images/$zoom_0.2802%2C$multiply_3%2C$ratio_1%2C$width_378%2C$x_27%2C$y_0/t_crop_custom/c_scale%2Cw_160%2Cq_52%2Cf_auto/6d2b85096d048e8b0a522ef5285874bd81e934a7)
How ‘flamethrowers’ and creaking IT burnt the Bank of England
For more than three decades, the BoE has used fan charts to visualise the uncertainty surrounding its forecasts. As Ben Bernanke pointed out, most people have no idea what they mean.
Bernanke tips BoE towards ‘scenario forecasts’ over Fed dot plots
This week, the former Fed chairman is expected to suggest the Bank of England adopt something new to update its forecasting process and repair its battered reputation.
December 2023
China faces the risk of a debt-deflation spiral
If deflation continues to eat into corporate profits, companies will cut wage growth, creating a vicious ‘loop’ of even weaker aggregate demand and deflation.
July 2023
BoE names former Fed boss Bernanke to review its forecasting record
The review will allow the bank to reflect on where to adapt to in “a world in which we increasingly face significant uncertainty”, its governor said.
June 2023
What is the new normal for rates, and when do we get there?
Ben Bernanke went a bridge too far in monetary policy after the 2008 financial crisis. We are now paying the price in a new inflationary world.
May 2023
The Aussie who transformed Morgan Stanley, deal by deal
James Gorman is standing down as chief executive after more than a decade heading one of the world’s biggest investment banks. Three contenders are vying for his job.
April 2023
Ueda kicks off first change of BoJ governorship in a decade
As the first academic to head the 140-year-old institution, Kazuo Ueda has so far struck a neutral tone on monetary policy.
October 2022
Trickle-down misinformation
Short-term pain for long-term gain; Nuclear just a Coalition political play; Economics not such a Nobel calling; Stage three a bad idea in so many ways.
Bernanke shares Nobel Prize for crisis work
The former Fed chair helped to reshape how the world understands the relationship between lenders and financial crises.
Ben Bernanke wins Nobel for economics
Former Federal Reserve chairman Ben Bernanke has shared the prize with two other US-based economists for research into the collapse of banks.
June 2022
Who would want to be a central banker right now?
Central banks became enormously powerful after the global financial crisis. Now there are questions on whether they can do what is needed of them.
Oversized pay rise is somebody else’s job
Make no mistake. Fair Work’s decision will mean more people on JobSeeker and fewer on minimum wage
April 2022
The end of the global savings glut theory of low-interest rates
The only way for central banks ensure that inflation is temporary is to tighten their monetary policies, rather than clinging to old theories to justify their persisting with ultra-cheap money policies.
February 2022
RBA has got interest rates more right than wrong
There is no US-style inflation here, and the neutral rate of interest is now structurally lower. That’s a chance to keep a three in front of the jobless rate.
January 2022
Interest rates to rise, markets correct
The question to be answered now is how much this unnaturally cheap money has distorted capital flows and how unruly is the correction.
A fascinating page-turner made from an unlikely subject
The Lords of Easy Money is a fascinating and propulsive story about the Federal Reserve — yes, you read that right
September 2021
No point keeping money so cheap
Holding down interest rates to make inflation rise is long past any usefulness. The best way to start the painful adjustment is to begin early.
August 2021
Why Powell should be bold at Jackson Hole
The longer the Fed chairman waits to detail his thinking, the bigger the risk the central bank will be forced into a disorderly slamming of the policy brakes.