Powell at Jackson Hole… and then what?
Tonight in Jackson Hole, Jay Powell will deliver his final speech in this central bankers’ lair. It’s often an important venue for getting messages across. Draghi, Bernanke, Yellen, and even…
Philippe Waechter's blog
Three questions for back to work – France – Part III
The government’s commitment in the 2026 budget is a deficit of 4.6% of GDP compared to 5.4% in 2025. A saving of almost 44 billion compared to 2025.The long-term goal…
Three Questions for Back to Work – Europe – Part II
Europe’s strategy changed rapidly during the summer. The Draghi report had generated enthusiasm about Europe’s ability to become more self-sufficient in generating new revenues. Insufficient innovation was the key to…
Three Questions for Back to Work – Part 1
The new school year is upon us, and with it a whole series of questions about the evolution of the global economy and each of its components. As a European,…
Culture at the heart of the economic system
Culture is the key to understanding the process that led to the Industrial Revolution. This is the theme of Joel Mokyr’s book, “The Culture of Growth.” His message is that…
The strange relationship between the United States and China.
The Middle Kingdom was the focus of Donald Trump’s attention upon his arrival at the White House, with threats of brutal sanctions. This is no longer the case. By extending…
Europe at the time of political choices
During globalization, the world was economic. With the pandemic, it has become political.Political preferences now condition economic choices. The opposite was true during the rise of globalization until the pandemic.Europe…
What effects have recent trade agreements had on the United States?
Summary of an interview with Radio Télévision Suisse So far, the effects are still moderate. There are several reasons for this. Donald Trump’s recent announcements setting tariffs at 18.3% (Source:…