Search Results
Middle East geopolitical risk modestly affects inflation and inflation expectations
While hostilities between Iran and Israel ended quickly in June 2025 without a major oil supply disruption, it is worthwhile to explore the impact on inflation and inflation expectations if this geopolitical event had turned out differently.
Global Institute presentation: Steve Kamin on the dollar’s status
During a presentation and discussion hosted by the Global Institute last month, Steve Kamin discussed how tariffs, volatility and evolving payment technologies are challenging—but not yet dislodging—the dollar’s position as a reserve currency at the center of the global financial system.
Mexico gains from U.S.-China trade war; inefficiencies limit benefit
A sequence of major economic and geopolitical events has reshaped the structure of global trade in the past decade. It began with U.S. imposition of tariffs on Chinese goods in 2018. The postpandemic followed with widespread disruption to global value chains—the process of manufacturing a product in stages across several countries.
Hormuz closure offsets tariff reversal; U.S. left with upside inflation risk
A pair of important and opposing trade shocks hit the U.S. economy during the first quarter of 2026. The U.S. Supreme Court struck down a portion of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The decision on Feb. 20 lowered average U.S. import tariffs by roughly 4.8 percentage points.
Fed’s 1994 Rate Aggressiveness Led to Emerging-Market Turmoil; Is This Time Different?
As the Federal Reserve embarks on a monetary tightening cycle, only a few spots of vulnerability have appeared among emerging markets.
Blockchain Technology Aims to Expand Role of Digital Transactions on Internet
While the resources devoted to blockchain technology development have increased dramatically the past few years, the technology’s ultimate success depends on whether blockchain protocols can interact with the current economic landscape and how that occurs.
Decentralized finance proposed as alternative to traditional financial services
DeFi applications allow users to directly interact with each other to borrow, lend, insure and exchange digital assets without centralized intermediaries, such as banks and custodial exchanges.
Tax, transfer programs explain why Western Europeans work less than Americans
Western Europe differs from the United States not only in consumption tax, income tax and social security systems but also in the total factor productivity—a measure of productivity—for market production in which most European countries are low.
Dallas Fed, Latin American central banks explore financial stability risks
The COVID-19 pandemic, recent monetary tightening and a strengthening U.S. dollar were the themes explored during a recent conference organized by the Federal Reserve Bank of Dallas and the Center for Latin American Monetary Studies (CEMLA) and held at CEMLA’s Mexico City headquarters.
Threat of global housing slide looms amid rising rates
While house-price growth has recently begun to moderate—or, in some countries, to decline—the risk of a deep global housing slide persists.