Economic magic or a risky fantasy?

AT Stanford University recently, I watched Professor Mark Duggan reluctantly ask US Federal Reserve chairman Jay Powell his view on Modern Monetary Theory. MMT has attracted scathing criticism from an array of heavy hitters, including former US Treasury Secretary Larry Summers, former...

THE BOTTOM LINE

The Fed will hike again - because it can

THE US Federal Reserve performed a remarkable 180-degree turn between December and January. On Dec 19, the Wall Street Journal's opinion page was titled "Powell to Markets: Take That" with the subtitle "The Fed says more rate increases are coming, so get used to it."...