Modi Is $20 Trillion Short on His Grand Plan for India’s Economy
In an August 2022 speech delivered at the historic Red Fort in New Delhi, Prime Minister Narendra Modi made a bold pledge: India will be a developed country by 2047. The annual Independence Day address is often big on promises…
Rents Are the Fed’s ‘Biggest Stumbling Block’ in Taming US Inflation
When inflation peaked above 7% in 2022, it was relatively broad-based across goods and services. In 2024, with inflation back below 3%, that’s no longer the case: What’s left of the problem now is mainly about housing. Rent dominates the…
A Resilient Global Economy Masks Growing Debt and Inequality
The increasingly hopeful economic story of 2024 so far is that of a world headed for a soft landing. Unfortunately that same world is also becoming more dangerous, divided, indebted and unequal. The reasons for short-term optimism are plain. A…