Essays & News

  When consumer price inflation first reared its ugly head in the aftermath of the Covid-19 crisis, the initial reaction of central bankers and politicians was to dismiss it, along with anyone expressing concern over it. As Federal Reserve Chair Jerome Powell put it, consumer price increases were merely “transitory” and nothing to be too […]

  The United States economy has had a good run. Gross domestic product (GDP) growth is encouraging (2.5 percent in 2023 and more than 3 percent during the last 2023 quarter), and the February 2024 price inflation rate was down to 3.2 percent  – higher than expected but still a commendable result. The labor market is […]

  An airstrike targeted an Iranian consulate in Damascus early last week, killing seven military officers, including two generals serving in Iran’s Islamic Revolutionary Guard Corps. The Revolutionary Guards, an elite military entity crucial for the Iranian regime’s hold on power, ruthlessly suppress any opposition within the country and support terrorist activities abroad. The airstrike […]

  In Turkey’s municipal election of March 31, 2024, President Recep Tayyip Erdogan’s AK Party recorded setbacks at the ballot box. For the first time, the opposition Republican People’s Party emerged as the strongest force. Observers considered this election not only a municipal matter but also a test of national policy. It is typical for […]

The implementation of central bank digital currencies as the primary medium of exchange would exacerbate the flaws of our current fiat system which encourage banks to overextend credit and create liabilities that they cannot redeem. This will worsen the already recurring cycles of financial crises, writes Vibhu Vikramaditya. The Bank of England recently proposed a […]