Ten years ago, trillions of dollars of advanced-economy government debt traded at a negative real interest rate. Deflation, not inflation, was the euro zone’s main problem, and central bank researchers wondered where all the inflation had gone. They found it again in Covid-19 and the war in Ukraine. Inflation had merely been dormant, not dead, we discovered. Now President Donald Trump’s tariffs augur still-higher prices.

It is delusional to think that the Trump administration will devise a viable, let alone sensible, trade policy before its 90-day pause on “reciprocal” tariffs ends. Before prices spike and the economy starts shrinking, legislators and business leaders must recognize that there is no strategy and respond accordingly.

As temperatures rise and countries back off their decarbonization efforts, we must confront a reality central banks can’t correct

Mark Blyth comments for The New York Times, “The whole world has decided that the U.S. government has no idea what it’s doing."

In an interview with The New Yorker’s The Political Scene podcast, Mark Blyth discussed how the bond market forced Donald Trump to retreat on some tariffs and the risks of the president’s escalating trade war with China.

Mark Blyth discusses the economic impact of Trump’s tariffs.

Donald Trump’s attempt to reindustrialize the US economy by eliminating trade deficits will undoubtedly cause pain and disruption on a massive scale. But it is important to remember that both major US political parties have abandoned free trade in pursuit of similar goals.

Mark Blyth discusses what will happen in the short and long term if the U.S. economy goes into recession due to the Trump administration's attempt to produce a "once-in-a-generation shift in how we run the global economy."

President Trump’s on-again, off-again tariff announcements sent stock markets plunging. On the Media interviews Mark Blyth to make sense of the ever-changing news about the economy.

A decade and a half after the global financial crisis, austerity has returned. But this time it is not just an economically dangerous idea that promises to make a bad situation worse; in the hands of Elon Musk and Argentine President Javier Milei, it is also a political weapon and a redistributive tool.

Fighting inflation is quickly falling down the list of President Donald Trump’s priorities as he pursues his isolationist policies at a clip.

Brics has become an alternative power base outside the reach of the US and its allies, and a rising counterweight to US influence globally

US central bank widely expected to hold borrowing costs steady at meeting next week

The sums required to meet global challenges like mitigating climate change and strengthening financial-market stability far exceed available public funding. Attracting voluntary private investment, however, will require the development of a menu of innovative financial instruments.

We are entering a period of deteriorating US-China relations, with each side backed by its own allies and operating in its own international forums. While the precise impact of the changing geopolitical balance remains unknown, it is clearly becoming an impediment to addressing humanity’s most pressing problems.

Beijing needs to let unsalvageable developers fail and, crucially, avoid saddling banks with bad loans. Short-term pain is preferable to infecting finance and creating a deeper, longer economic downturn.

The country should not forget the need for strong and independent institutions in its dash for growth.

William R. Rhodes gave at talk at The Korea Society on the release of the Korean translation of "Keeping At It: The Quest for Sound Money and Good Government" - a memoir written by the late Federal Reserve Chairman Paul Volcker

With sovereign debt at record levels and extreme weather events becoming more frequent and intense, policymakers must find a way to sustain economic growth, ensure financial stability, and mobilize the necessary resources to combat climate change. Achieving this requires nothing less than a new economic paradigm.

Politically and economically, Xi’s China is superior to Putin’s Russia in an unequal alliance that has seen growing Russian dependence. If Xi can craft an exit from war in Europe after the current offensive, China’s geopolitical stock will rise further.

Professor of International Economics Mark Blyth co-authored an essay for the Financial Times on bird metaphors for central bankers.

The world thinks of treasuries as assets and no other country has been able to produce more sovereign debt than the US.

Mark Blyth comments for Bloomberg, “We may be in a world of financial dominance. I don’t know, but it sure smells that way.”

Mark Blyth discusses falling European bank shares on RTÉ's The Business podcast.