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Megan Greene

Megan Greene writes commentary on economics for the Financial Times. She is a senior fellow at the Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School. She is also the Dame Deanne Senior Fellow in International Economics at Chatham House
@economistmeg  on Twitter (link opens in a new browser window)

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  • Monday, 3 July, 2023
    Central banks
    Central banks shouldn’t relax about R-star just yet

    Predictions that inflation and rates will fall to pre-pandemic levels are not necessarily correct

    Close up of the eagle sculpture on the US Federal Reserve building.
  • Monday, 1 May, 2023
    First Republic
    What the protracted game of chicken over First Republic tells us

    The incentive for larger banks to pay early gets overwhelmed by the desire to wait for a better deal

    An image of a First Republic Bank sign next to  the Federal Deposit Insurance Corporation
  • Thursday, 13 April, 2023
    Property sector
    Commercial real estate is bruised but not broken

    Despite fears of a 2008 redux, the risks to CRE investors should be manageable

    Office buildings in San Francisco, California
  • Tuesday, 11 April, 2023
    Bank of England
    Megan Greene to join Bank of England rate-setting committee

    Chancellor’s choice of centrist economist likely to tilt balance on 9-member panel away from lowering interest rates

    Megan Greene
  • Sunday, 19 March, 2023
    Banks
    Global banking is now inside Schrödinger’s box

    Investors must trust in the system but confidence is wobbling and there may be more toxicity to come

    An artist’s impression of the Schrödinger’s cat thought experiment. Or, if using the FT Edit app, a photograph of a cat in a box
  • Wednesday, 22 February, 2023
    The QE retreat
    QE has become ‘Hotel California’ for central banks

    While commercial lenders change behaviour when the balance sheet expands, they do not change it back when it shrinks

    Janet Yellen in 2017, when the then Fed chair said quantitative tightening would be ‘like watching paint dry’
  • Tuesday, 7 February, 2023
    US budget
    Forget Groundhog Day vibes on debt ceiling — this time it’s different

    US default could prompt countries to hedge their dollar bets and add other currencies to foreign exchange reserves

    Flanked by Sen Sheldon Whitehouse and Sen Chris Van Hollen, Senate Majority Leader Chuck Schumer speaks at a news conference last week in Washington
  • Tuesday, 24 January, 2023
    Greek economy
    Greece must show robust data matters and stop persecuting Georgiou

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

    Andreas Georgiou (L) speaks to the press as then Greek finance minister George Papaconstantinou looks on, in Athens in 2010
  • Tuesday, 3 January, 2023
    Sovereign bonds
    Bank of Japan needs the courage to change course

    A shift in policy will be painful but the longer the delay in acting the worse it will be

    Haruhiko Kuroda, governor of the Bank of Japan
  • Sunday, 18 December, 2022
    War in Ukraine
    Europe’s long-term security will rest on the reconstruction of Ukraine

    Donors face a massive co-ordination problem in rebuilding the country and must start addressing it now

    A Ukrainian soldier walks through the rubble of a bombed classroom
  • Thursday, 1 December, 2022
    Global Economy
    The deflating of the great cash cushion

    Like Godot, the US recession has been long heralded but failed to materialise. It will, sooner or later

    Montage image of a $100 note with an air-release cap that is open, causing it to deflate
  • Saturday, 12 November, 2022
    On Wall StreetUS budget
    What the midterms mean for investors

    US equities tend to outperform in the six months after polls against the preceding half-year

    Joe Biden and vice president Kamala Harris at post-midterm election event
  • Monday, 31 October, 2022
    US inflation
    There’s one inflation gauge that bucks the trend

    The New York Fed’s often overlooked UIG believes US inflation is past its peak

    A woman with a trolley looks at items on the shelf in the aisle of a grocery store
  • Tuesday, 11 October, 2022
    Capital markets
    UK market turmoil is a harbinger of global events to come

    Price moves in the next year will be as swift and dramatic as they have been in Britain

    The Bank of England
  • Tuesday, 6 September, 2022
    Chinese economy
    Ignoring China’s disastrous ‘three Ds’ could be a global risk

    Disease, drought and debt will have worldwide consequences

    A parched river bed along the Yangtze River in Wuhan in China’s central Hubei province
  • Thursday, 18 August, 2022
    Climate change
    Europe must use all its financial firepower to fund the green transition

    Deploying EU funds for climate objectives does not appear to have been a priority — that has to change

    Low water levels this month on the Rhine River near Bingen, Germany
  • Thursday, 28 July, 2022
    Emerging market investing
    Trouble is coming for emerging markets beyond Sri Lanka

    There’s a long list of highly indebted countries that look vulnerable when choosing between paying creditors or food and fuel

    Sri Lanka will not be the last country to have to choose to between subsidising essentials and paying creditors
  • Monday, 18 July, 2022
    US inflation
    Democrats lack the tools they need to fight inflation

    Joe Biden has few tools at his disposal to cut prices in time to help his party in the US midterm elections

    James Ferguson illustration of Joe Biden pulling a price tag down against a strong wind with a part of the US dollar sign showing at the top
  • Tuesday, 28 June, 2022
    European Central Bank
    Crisis looms if the ECB’s new tool comes up short

    The spread between Italian and German government bonds has inspired the creation of an ‘anti-fragmentation’ procedure

    ECB president Christine Lagarde at a Eurogroup meeting in Luxembourg earlier this month
  • Monday, 16 May, 2022
    Food security
    Food insecurity is a bigger problem than energy

    Targeted cash and expertise are needed in the worst-hit areas, rather than sending food stocks

    People buy vegetables at a market in Colombo, Sri Lanka
  • Tuesday, 12 April, 2022
    US Dollar
    King Dollar is in no danger of losing its world financial crown

    Neither the renminbi nor cryptocurrencies pose a serious threat to the greenback’s supremacy

  • Wednesday, 16 March, 2022
    Eurozone economy
    The EU must decide how to fund its Ukraine crisis response

    Brussels can emerge more unified and resilient if it finds a way to pay for humanitarian relief, strengthened defences and the energy transition

    A German soldier inspects an array of tanks at the Bundeswehr army base in Munster, northern Germany
  • Wednesday, 23 February, 2022
    European Central Bank
    The ECB must move slowly on interest rates

    Premature withdrawal of monetary accommodation could kill the recovery

    ECB president Christine Lagarde has refused to rule out rate increases this year
  • Wednesday, 2 February, 2022
    US employment
    Why US workers will return to the labour market

    The Fed should take care how much and how quickly it raises interest rates in the post-Covid economy

    Commuters arrives at Grand Central station during morning rush hour in New York. Many workers who dropped out of the labour market due to caring duties and early retirement, among other factors, may return as the pandemic eases
  • Friday, 7 January, 2022
    US inflation
    Betting on transitory US inflation is still valid

    Fiscal drag, shrinking savings and weak foreign demand are likely to ease an overheated economy

    Picture shows Jay Powell, chairman of the U.S. Federal Reserve, speaking during a live-streamed news conference. he is standing at a podium and there is a big screen behind him showing an image of him standing at the podium.
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