On Monday the Office for National Statistics (ONS) confirmed that the UK economy grew by 0.7% in the first quarter of the year, as measured by Gross Domestic Product (GDP). That may sound impressive and was certainly better than most had expected a few months earlier. But unfortunately, it was as good as it gets. … Continue reading The UK economy’s strong start to the year was a flash in the pan (reprise)
Category: Monetary policy
No, the MPC doesn’t have a time machine…
The larger than anticipated jump in UK inflation in April has prompted many to argue that the Bank of England’s Monetary Policy Committee will now be much slower to cut interest rates. But there is, of course, nothing that the MPC can do now about last month’s CPI. The right question to ask is what … Continue reading No, the MPC doesn’t have a time machine…
Classical Liberal solutions to the productivity puzzle
Here are the slides from a presentation I gave at the IEA today on the slowdown in productivity growth in the UK and other major economies since the Global Financial Crisis of 2008 - aka the 'productivity puzzle'. It concludes with some proposed solutions in the Classical Liberal tradition... Classical Liberal solutions to the productivity … Continue reading Classical Liberal solutions to the productivity puzzle
President Trump is gradually undermining confidence in the dollar, one tirade at a time
Donald Trump’s latest tirade against the head of the US central bank is so obviously negative for the dollar that you have to wonder whether the President is deliberately trying to undermine the US currency. Remarkably, the answer may indeed be ‘yes’. On Monday, Trump used his social media platform to call Federal Reserve Chair … Continue reading President Trump is gradually undermining confidence in the dollar, one tirade at a time
Plain-speaking Economics 