Latest Macro Commentary

The Macro Commentaries are based on the FT Blogs by Gavyn Davies.

Macro Commentary

Gavyn Davies' Blog

Can secular stagnation morph into secular expansion?

Can secular stagnation morph into secular expansion?

January 9, 2018
In the last few years, it has...
Global growth in 2018 – slowing but not slow

Global growth in 2018 – slowing but not slow

December 12, 2017
There is now an almost complete, if...
The changing of the guard at the Fed

The changing of the guard at the Fed

December 5, 2017
It is now widely recognised that President...
BoJ hints at normalisation, with Japanese characteristics

BoJ hints at normalisation, with Japanese characteristics

November 28, 2017
The five year term of Bank of...
US productivity may not be that bad, after all

US productivity may not be that bad, after all

November 14, 2017
Bad news about US productivity growth has...
Does China’s new policy regime threaten the global upswing?

Does China’s new policy regime threaten the global upswing?

November 9, 2017
The strength of the upswing – almost...
The (non) disappearing Phillips Curve – the evidence

The (non) disappearing Phillips Curve – the evidence

October 31, 2017
Last week, I made two points about...
The (non) disappearing Phillips Curve: why it matters

The (non) disappearing Phillips Curve: why it matters

October 24, 2017
The existence, and recent disappearance, of the...
World economy may be healthier than the IMF thinks

World economy may be healthier than the IMF thinks

October 17, 2017
Richard Thaler, whose richly deserved Nobel Prize...
Doves and hawks in the race for Fed Chair

Doves and hawks in the race for Fed Chair

October 10, 2017
On a trip to Washington last week,...
Trump’s fiscal stimulus, 2.0

Trump’s fiscal stimulus, 2.0

October 3, 2017
US fiscal policy has been back in...
Central bank disputes – Yellen versus Borio

Central bank disputes – Yellen versus Borio

September 28, 2017
Ever since the Great Financial Crash, the...