Each president of the United States leaves behind a legacy, and Barack Obama is no exception. In 2009, Obama inherited an economy hurtling toward catastrophe, and through his economic policies he succeeded in not only steadying it but helping it to improve on many, if not all, fronts.
A popular argument made by protectionists is that undervalued foreign currencies foster trade deficits, lower employment and are therefore harmful to the domestic economy, such as that of the United States, which is currently enjoying a relatively high dollar value. But are Americans really made poorer by their high-flying dollar?
By John Manning, International Banker In early March, Ulster Bank announced that from October onwards, it will be closing nine…
Underbanked and unbanked citizens do not exist only in emerging countries. Developed countries have their share, too, and their financial institutions are quickly learning that their counterparts in emerging economies have much to share about how especially mobile-banking apps are making what was once inaccessible accessible to large numbers of consumers.
The Millennial generation has not carried out personal-financial transactions in what was historically considered a normal interest-rate economic environment. How are near-zero interest rates affecting their financial decisions, and how will their decisions impact the economy and monetary policy of the future?
Trying times can inspire groundbreaking reform, and today’s economic climate may demand a radical strategy. Approaches such as universal basic income, deposit accounts held at central banks, and monetary policy through direct transfers may be what is needed to effectively address stubborn conditions that could turn perilous in the days ahead.
In the US, strict and costly regulations in the aftermath of the financial crisis were applied with a broad brush, to large financial institutions capable of creating systemic catastrophe and to community banks with risks tied only to the communities they faithfully serve. Now is the time to strengthen the best of the financial system, its community banks.
Much has been made of Europe’s struggling banking sector since the turn of the decade. In October, for instance, the International Monetary Fund (IMF) reported that across the world, banks that were in charge of approximately $12 trillion of assets will continue to remain vulnerable, even if a global economic recovery takes hold.
In the United States, the average car spends 96 percent of its time parked on a parking space or in a garage. The rest of the world isn’t much better. Yet, regardless of all those cars just sitting and doing nothing, it is reported that 1.2 million people are killed in road accidents per year worldwide.
Across the world, governments are increasingly acknowledging the need to raise the levels of investment in infrastructure projects within their respective countries.