Skip to main content

U.S. Federal Reserve

An Indian Youth Congress activist takes part in a protest against rising fuel prices in Siliguri, India, on Feb. 26.
An Indian Youth Congress activist takes part in a protest against rising fuel prices in Siliguri, India, on Feb. 26.

Specter of Stagflation Hangs Over Emerging Markets

Rich countries’ pandemic policies are sucking growth and capital out of the developing world.

Food market in Mexico City
Food market in Mexico City

Biden’s ‘America First’ Policies Are Spreading Global Pain

Like its blatant vaccine nationalism, the administration’s unchecked stimulus policies are hurting the world—especially the global poor.

Economy-pandemic-imf-feature-gita-gopinath-kristalina-georgieva
Economy-pandemic-imf-feature-gita-gopinath-kristalina-georgieva

Emerging Stronger From the Great Lockdown

The managing director and the chief economist of the International Monetary Fund lay out a strategy for sustained recovery.

An employee sorts Turkish lira banknotes at a bank in the town of Sarmada in Syria’s northwestern Idlib province on June 14.
An employee sorts Turkish lira banknotes at a bank in the town of Sarmada in Syria’s northwestern Idlib province on June 14.

Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks

And he won’t be able to keep the game going for much longer.

A homeless man panhandles along a street in Lawrence, Massachusetts, on Aug. 16.
A homeless man panhandles along a street in Lawrence, Massachusetts, on Aug. 16.

To Avoid a Coronavirus Depression, the U.S. Can’t Afford to Alienate the World

America needs a cooperative global economy to dig itself out of the downturn. That will require deft economic diplomacy, not bluster and bullying.

People walk down 16th Street after “Defund The Police” was painted on the street near the White House in Washington, D.C., on June 8.
People walk down 16th Street after “Defund The Police” was painted on the street near the White House in Washington, D.C., on June 8.

Defund the Bankers

The U.S. economy needs reform, and the Black Lives Matter movement shows how it can be done.

The charging bull on Wall Street is decked out with a facemask in New York City on May 19.
The charging bull on Wall Street is decked out with a facemask in New York City on May 19.
Santiago Demonstrators Clash With Police Over Food Supply
Santiago Demonstrators Clash With Police Over Food Supply

Food Price Spikes and Social Unrest: The Dark Side of the Fed’s Crisis-Fighting

Emergency monetary policies produce an unintended consequence: rising food prices around the world.

Christine Lagarde, then-director of the International Monetary Fund, speaks with Jerome Powell, the chair of the U.S. Federal Reserve, during the family picture of the G-20 meeting of finance ministers and central bank governors in Buenos Aires on July 21, 2018.
Christine Lagarde, then-director of the International Monetary Fund, speaks with Jerome Powell, the chair of the U.S. Federal Reserve, during the family picture of the G-20 meeting of finance ministers and central bank governors in Buenos Aires on July 21, 2018.

The Death of the Central Bank Myth

For decades, monetary policy has been treated as technical, not political. The pandemic has ended that illusion forever.

Demonstrators protest against government bailouts of banks in front of the New York Stock Exchange, in New York City on Oct. 24, 2008.
Demonstrators protest against government bailouts of banks in front of the New York Stock Exchange, in New York City on Oct. 24, 2008.

This Time, Can We Finally Turn a Financial Crisis Into an Opportunity?

Once again, markets are crashing and taxpayers are bailing out wealthy insiders. It's time we reform this perverse social contract.

$100 notes are printed at the U.S. Bureau of Engraving and Printing in Washington, D.C., on May 20, 2013.
$100 notes are printed at the U.S. Bureau of Engraving and Printing in Washington, D.C., on May 20, 2013.

The Democratic People’s Republic of U.S. Monetary Policy

Congress is outsourcing more and more policymaking to the Federal Reserve.

Former Chairman of the Federal Reserve Paul Volcker
Former Chairman of the Federal Reserve Paul Volcker

What Paul Volcker Got Right About Global Finance

The late Federal Reserve chief was most renowned for fighting inflation, but he also understood—before almost anyone else did—that Wall Street was out of control.

Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on Feb. 27, 2018.
Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on Feb. 27, 2018.

Beware SOFR

With the global economy slowing, the world has a new acronym to worry about.

U.S. Federal Reserve Chairman nominee Jerome Powell looks on as President Donald Trump speaks during a press event in the Rose Garden at the White House on Nov. 2, 2017.
U.S. Federal Reserve Chairman nominee Jerome Powell looks on as President Donald Trump speaks during a press event in the Rose Garden at the White House on Nov. 2, 2017.

What the Last Recession Tells Us About the Next One

A transcript of U.S. Federal Reserve Chairman Jerome Powell’s remarks in Paris.

A container ship unloads its cargo from Asia at the Long Beach port in California on Aug. 1.
A container ship unloads its cargo from Asia at the Long Beach port in California on Aug. 1.

Our Top Weekend Reads

The U.S.-China trade war reignites, the Fed takes bold action, and a U.S.-Russia nuclear treaty comes to an end.

Load 10 More Articles
Loading graphics

Welcome to a world of insight.

Explore the benefits of your FP subscription.

Stay updated on the topics you care about with email alerts. Sign up below.

Choose a few newsletters that interest you.

Here are some we think you might like.

  • Morning Brief thumbnail
  • Africa Brief thumbnail
  • Latin America Brief thumbnail
  • China Brief thumbnail
  • South Asia Brief thumbnail
  • Situation Report thumbnail

Analyze the world’s biggest events.

Join in-depth conversations and interact with foreign-policy experts.

FP Live: Samantha Power

In her role as administrator of the U.S. Agency for International Development, Samantha Power is often thrust into the forefront of some of the world’s biggest crises. From working to ensu...Show more

FP Live: The Future of Afghanistan

Last summer, the United States decided to end its longest war. But just days after the U.S. military withdrew from Afghanistan, Kabul fell—and the Taliban took control of the country. Aug....Show more

FP Live: Reporters’ Notebooks

Want the inside scoop on Russian arms sales to Africa? Care to learn more about how Ukraine is arming itself and how Beijing views Washington’s support for Taiwan? FP subscribers are alrea...Show more