To be read this week

Writing on a blog is a good way to discuss ideas. But a blog is also a link to what is written by others. This post shows what I consider as interesting links in English. You can find different links in French on the French part of my blog (here)

Crimes and Punishments (Menzie Chinn on and
The impact of economic sanctions on Russia (Linda Yueh on Continue reading

Fed’s Strategy – How to avoid having hands tied?

At its FOMC meeting, the Federal Reserve has kept unchanged its interest rates and has continued to reduce the amount of assets purchased every month. Nevertheless the monetary policy framework has changed. The reference to a threshold on unemployment rate to trigger a change or thinking to a change of interest rates has disappeared.

Three remarks on the economic situation Continue reading

Euro Area – USA : Convergence in the Business Cycle Momentum?

Looking at the synthetic indices in February, a convergence can be seen between the Euro Area and the USA. That’s what is shown by the first chart. There is a real improvement in the Euro Area with a PMI  index which is above 50 since last August. The momentum is on the upside. In the USA, the drop seen in the index reflects the climate impact during the first two months of this year. Continue reading