The fallout from the Russian invasion of Ukraine will be stagflationary in that it will noticeably reduce global growth and raise global inflation over the next year.
The economic and financial sanctions already implemented will lead to a deep recession in Russia.
Targeting the Russian economy through a total ban on oil and gas imports carries a high risk of recession in European economies.
Weaponizing dollar finance is likely to lead to a significant shift away from the dollar as the dominant international currency.
High volatility in the prices of crypto assets such as Bitcoin, Dogecoin, and Ethereum largely reflects movements in investor sentiment rather than news about potential sources of fundamental value (such as possible applications, or use in illicit transactions).
Given existing regulation of the financial system, as crypto assets grow in value and become more connected to the rest of the system, the fluctuations in their valuations will pose a serious risk to financial stability in advanced economies.
Private unbacked crypto assets serve no important economic purpose.
The American Rescue Plan Act of 2021 temporarily increased the value of the child tax credit from $2,000 to $3,000 for children aged 6-16 and to $3,600 for younger children. To date, the Biden administration has been unable to renew the expansion of the child tax credit, amid broad public debate about its effects on child poverty and parental labor supply, as well as its potential longer-term fiscal benefits.
The pandemic has led to a big shift to working from home among people in occupations where it is possible for the jobs or some part of them to be done remotely. There has been much debate about the extent to which such forms of working (or a hybrid model, with some hours done at home and some on business premises) will continue over the longer term. Key questions include the potential impact on employees’ productivity and their job satisfaction, and whether the career trajectories of women and men may be affected differently by a substantial increase in working from home.
The pandemic has led to a big shift to working from home among people in occupations where it is possible for the jobs or some part of them to be done remotely. There has been much debate about the extent to which such forms of working (or a hybrid model, with some hours done at home and some on business premises) will continue over the longer term. Key questions include the potential impact on employees’ productivity and their job satisfaction, and whether the career trajectories of women and men may be affected differently by a substantial increase in working from home.
