The magazine of international economic policy.

FROM THE LATEST ISSUEE 

The Fed’s New “Gain-of-Function” Monetary Policy

Overuse of nonstandard policies, mission creep, and institutional bloat are threatening the central bank’s monetary independence.

By Scott Bessent

On the Subject of Central Bank Independence

TIE asked U.S. Treasury Secretary Scott Bessent to expand on his views about the Fed’s role in an exclusive interview.

Looking Ahead Ten Years, What Outside-the-Box Economic Development Could Shock the World?

TIE once again asked a broad range of experts to highlight a shocking development that could unexpectedly materialize by 2035. This outside-the-box speculation on matters that today seem improbable, if not impossible, offers plenty to ponder.

Featuring commentary by Henry J. Aaron, Marco Annunziata, Anders Åslund, Dean Baker, Marek Dabrowski, Mansoor Dailami, John M. Deutch, Andrew DeWit, Takeshi Fujimaki, Adam Garfinkle, Brigitte Granville, Lyric Hughes Hale, Gary Clyde Hufbauer, Harold James, Richard Jerram, Gary N. Kleiman, Desmond Lachman, Hongyi Lai, John Lee, Robert E. Litan, Robert A. Manning, J.W. Mason, Philippe Riès, Derek Scissors, Robert J. Shapiro, Daniel Sneider, and Stan Veuger.

A symposium of views

Japan on the Ropes

Has the global economic powerhouse lost its mojo?

By Yoshihiro Sakai

The New Stablecoin Debate

The pro side seems to be winning.

By Peter Coy

AI’s Energy Problem

The Big Bad Beautiful Bill’s phase-out of renewable energy subsidies isn’t helping matters.

By Philip K. Verleger, Jr.

Looking Back at the Great Financial Crisis

A new book examines how human factors played an outsized role.

By Aditi Sahasrabuddhe

Today’s Export Control Explosion

Like tariffs, they are reshaping global markets.

By Shubham Singhal

Globalization’s Not Ending

It is being restructured.

By Zia Qureshi

Time for a Progressive Supply-Side Approach

Ezra Klein and Eric Thompson break new ground in their recent book.

By Dani Rodrik

Off the News

A Chinese gold-backed reserve currency, Trump’s hand grenades and fireworks, and all crudes are not the same.

From the Founder

The rise of a third political party. Sounds impossible. Maybe not.

By David M. Smick

View from the Beltway

The downsides of tariffs: Tariffs aren’t a policy. They’re a personalized tactical tool for gaining leverage.

By Owen Ullmann

Letter from Berlin

Merz’s hopeful start: Negotiating around Trump trade land mines.

By Klaus C. Engelen