The Latest Breaking News from Paul Volcker

The Spanish-American philosopher George Santayana famously warned that "those who cannot remember the past are condemned to repeat it". But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation…

A collapse in credibility under the former Tory PM is being followed by a return to ‘sado-monetarism’ under the new one

For most consumers, the concept of inflation is all too familiar. Inflation describes the process of goods and services going up in price over time, thus decreasing the purchasing power of every dollar. Deflation, on the other hand, refers to falling prices and a lower cost of living. So just…

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy