Chief of Poland’s financial regulatory (KNF), Andrzej Jakubiak, recently sought to head off concerns that the Polish banking sector is facing rocky times ahead, saying that the system was “stable and money held in Polish...
There is no reason to believe that within the next six months, and probably even more, something will significantly change the course of economic events specified in the November "Inflation Report" of NBP. Therefore, the Monetary...
A long standing Fed President, William McChesney Martin, kept saying that the central bank is like a good chaperone at a party: one that cares that the guests always have enough punch in their glasses. When the atmosphere gets...
MPC's last announcement makes it clear that the process of easing monetary policy has begun. We are witnessing an economic slowdown when it is difficult to keep the level of public debt in check. Our economy's sustainable...
When people talk about how Washington has helped its friends on Wall Street (and elsewhere) at the expense of the little guy, the discussion usually centers on taxpayer-funded bailouts and the various liabilities taken on by the...
The eurozone treaty genie is out of the bottle and there’s no way to put it back in. I pointed to a WirtchaftsWoche article which quoted German Chancellor Merkel as wanting to „improve” (weiterzuentwickeln)...
Many commentators are upbeat about prospects for the coming year. Among other reasons, they believe that severe recessions are invariably followed by sharp rebounds, even though history suggests financial crisis-inspired...
While policymakers, pundits, and economists such as Paul Krugman are apparently relaxed about our nation’s fast growing debt load, more and more people are beginning to have their doubts, including government officials...