LONDON — The problem with quantitative easing (QE), quipped then-US Federal Reserve Chair Ben Bernanke in 2014 about the Fed’s bond-buying program, “is it works in practice but it doesn’t work in theory”.

ATHENS — In his March budget, the United Kingdom’s chancellor of the exchequer, Rishi Sunak, enlarged the mandate of the Bank of England to include supporting the government’s target of achieving net-zero greenhouse-gas emissions by 2050.

LONDON — Amid all the talk of when and how to end or reverse quantitative easing (QE), one question is almost never discussed: Why have central banks’ massive doses of bond purchases in Europe and the United States since 2009 had so little effect on the general price level?Betwee

LONDON — The other day, my wife and I were leaving our apartment building. I pressed the button which automatically opens and shuts the door. Nothing happened. We could not leave the building, except perhaps by jumping through a window.

LONDON — US President Joe Biden has set out to emulate Franklin D. Roosevelt by spending huge amounts of money, something that FDR avoided doing until World War II.

LONDON — Since March 2020, the Bank of England (BoE) has bought £450 billion ($639 billion) of UK government debt through its so-called Asset Purchase Facility. Virtually all of this was new debt issued by the government since the start of the COVID-19 crisis.

LONDON — Mahatma Gandhi probably never said, “The greatness of a nation can be judged by how it treats its weakest member.” But that doesn’t make it any less true.

LONDON — John Maynard Keynes was a staunch champion of US president Franklin D. Roosevelt’s (FDR) New Deal.

LONDON  —  Something extraordinary has happened to macroeconomic policymaking.