The Business Times

Chris Giles

FT COLUMNIST

GDP and other measures of paid activity in the economy are extremely valuable as a gauge of how money flows and the resources available for households and government to consume and to invest.
THE BROAD VIEW

The perils in the search for the perfect GDP alternative

Statistical agencies trip up when they attempt to weigh the values of good and bad in society

Central banks in Europe should follow those of Sweden and Switzerland and begin a programme of rate cuts.

The US and Europe should decouple on monetary policy 

Divergent economic positions mean the assessment of policy risks needs to be radically different

Central banks are poised to lower interest rates in 2024, but are reluctant to move quickly for fear of financial market excess -- and a remaining risk of lingering inflation.

Buckle up – the inflation battle is entering a new phase

The US, UK and eurozone are on course to declare victory this year, but difficult trade-offs await

From left: Federal Reserve chair Jerome Powell, European Central Bank president Christine Lagarde, and Bank of Japan governor Kazuo Ueda at the Kansas City Federal Reserve Bank's annual economic policy symposium in Jackson Hole, Wyoming on Aug 25, 2023.
THE BOTTOM LINE

The five global economic shifts happening now

As uncertainty and inflation challenge central bankers and policymakers, they must also adapt to structural changes

With a twin budget and current account deficit, the UK needs the global economic orthodoxy to keep lending it money.
THE BROAD VIEW

Lessons for Truss when economic orthodoxy bites back

The UK prime minister’s experiment fails to take account of unforeseen consequences in the real world

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