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United States

Swaha Pattanaik

Breakingviews - Kiwis test limits of overburdened rate setters

Nov 26 2020

LONDON (Reuters Breakingviews) - New Zealand led the way in central banking in the past. Now, the country that first formally asked independent monetary policymakers to target inflation is offering a lesson in the problems of overburdening rate setters.

Breakingviews - ECB has chance to avoid Fed’s strategy revamp flaw

Nov 12 2020

LONDON (Reuters Breakingviews) - European Central Bank boss Christine Lagarde can learn from her peers’ mistakes. She’s partway through a strategy review, including basics such as what its inflation target should be and which price measure to track. Federal Reserve Chair Jerome Powell, who came up with a new mission statement after conducting a similar exercise, offers a useful lesson on one pitfall to avoid.

Breakingviews - WTO is early test of Joe Biden’s multilateralism

Nov 09 2020

LONDON (Reuters Breakingviews) - Uncle Sam’s allies across the globe have high hopes for President-elect Joe Biden. German Economy Minister Peter Altmaier spoke for many when he said on Monday that Biden’s victory augured a return to stronger multilateralism. The World Trade Organization will offer an early chance for Biden to show that’s true. Even changes in form will produce changes in substance.

Breakingviews - Bank of England offers plaster for Covid-19 wound

Nov 05 2020

LONDON (Reuters Breakingviews) - UK finance minister Rishi Sunak couldn’t ask for a better friend than Andrew Bailey. The Bank of England boss said on Thursday he would buy an extra 150 billion pounds of government bonds to help an economy that will take a new hit from the lockdown imposed in England this week. These purchases will allow Sunak to keep spending freely without worrying about whether borrowing costs might rise. But the central bank’s buying spree is at best a sticking plaster.

Breakingviews - The Exchange: IMF and sub-Saharan Africa

Oct 27 2020

LONDON (Reuters Breakingviews) - The regional head of the International Monetary Fund, Abebe Aemro Selassie, joins Swaha Pattanaik to discuss how the Washington-based lender is helping hard-hit countries, debt difficulties, the need for reforms, and why policy choices are more limited than in advanced economies.

Breakingviews - Review: Picking the turning point in inflation

Oct 16 2020

LONDON (Reuters Breakingviews) - Inflation has in recent years been like Samuel Beckett’s Godot: much awaited but never turning up. That is about to change, according to economists Charles Goodhart and Manoj Pradhan.

Breakingviews - The Exchange: The long wait for inflation

Oct 06 2020

LONDON (Reuters Breakingviews) - Charles Goodhart and Manoj Pradhan tackle an issue perplexing policymakers and investors: if, and when, price pressures will rise. The authors of “The Great Demographic Reversal” discuss ageing societies, emerging economies, and why the world won’t follow in Japan’s footsteps.

Breakingviews - Christine Lagarde has a real rates problem

Oct 02 2020

LONDON (Reuters Breakingviews) - European Central Bank President Christine Lagarde is running to stand still. Her policy rate is at a record low. But the weakness of inflation means that the real rate, which is adjusted for changes in prices, is actually rising. This may buoy the euro – the last thing that Lagarde needs.

Breakingviews - Rishi Sunak’s UK economic safety net has a tear

Sep 24 2020

LONDON (Reuters Breakingviews) - As befits a big buyer of overseas goods, Britain is importing a job retention scheme along the lines of those used in Germany and France. The plan that finance minister Rishi Sunak unveiled on Thursday will help the economy cope with rebounding coronavirus infections and ticks several boxes. But he is failing low-skilled workers whose roles may disappear forever.

Breakingviews - The Exchange: Stephanie Kelton

Aug 11 2020

LONDON (Reuters Breakingviews) - As budget deficits swell, one of the highest profile advocates of Modern Monetary Theory joins Swaha Pattanaik to discuss her approach to public finances, U.S. presidential hopeful Joe Biden’s economic agenda, how her thinking evolved, and her experience of academic gatekeeping.

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