Econ Comments & Analysis
Washington Post | The curse of the dollar?
For years, the dollar’s role as the major global currency has been termed an “exorbitant privilege” — a phrase coined by French Finance Minister and later President Valéry Giscard d’Estaing. Now it may be turning into an extravagant curse.
Washington Times | Preserving their monopoly on monopoly money
“The need to slough off the outworn old to make possible the productive new is universal. It is reasonably certain that we would still have stagecoaches — nationalized to be sure, heavily subsidized and with a fantastic research program to ‘retain the horse’ — had there been ministries of transportation around 1825.”
Real Clear Markets | Bernanke's Cures Are the Economy's Disease
New jobs numbers from the Labor Department due out next week will give the Federal Reserve its first clue as to how the economy performed in May, and signal whether the Fed might start reducing its accommodative monetary policy.
Heritage Foundation | Congress Should Query IMF Support for Capital Controls
Since the global financial turmoil in late 2008, increased attention has focused on the role of the IMF in the rapidly changing international monetary system and the future of U.S. support for the fund. The IMF’s recent institutional endorsement of capital controls should be a major concern for Congress in its consideration of President Obama’s request for a $63 billion increase in the U.S. funding for the organization.
