Financial Markets | Council on Foreign Relations

Climate Change

Pricing Our Climate

As the effects of climate change move from scientific predictions to daily headlines, some investors have begun sounding the alarm about impending dangers to financial markets. In this episode, experts break down the intersection of climate change and the economy, and examine whether the persuasive power of the dollar can be leveraged in the fight for climate action.

Podcast with Gabrielle Sierra , Kate Mackenzie and Michael Greenstone July 29, 2020 Why It Matters
COVID-19

The Elements Unfold: A Possible Bottom to Oil Prices

The process of going into lockdown due to the coronavirus pandemic has been revealing, especially in regards to oil. There are many elements to the smooth operation of global oil logistics that are now facing potential problems due to the unprecedented lockdowns. Here are a few of these elements and the complications the lockdown process is exposing.

Blog Post by Amy M. Jaffe May 14, 2020 Energy Realpolitik
Financial Markets

OPEC Plus’ Zero-Sum Oil Game

Prior to the U.S. invasion of Iraq in 2003, international sanctions had severely curtailed Iraq’s oil industry. Oil production sat at 1.4 million barrels a day (b/d). Iraq’s beleaguered refining indu…

Blog Post by Amy M. Jaffe April 20, 2020 Energy Realpolitik

International Economic Policy

Not One Emerging Market Financial Crisis, but Many…

The common denominator across many emerging economies is a shortage of dollars. But the causes differ, as do the solutions.

Blog Post by Brad W. Setser March 31, 2020 Follow the Money
COVID-19

How Is the Fed Dealing With the Coronavirus Crisis?

The U.S. Federal Reserve is using creative means to counter the economic shock caused by the global coronavirus pandemic, but those measures must be matched by aggressive fiscal action.

In Brief by Brad W. Setser March 18, 2020
Global

World Economic Update

The World Economic Update highlights the quarter’s most important and emerging trends. Discussions cover changes in the global marketplace with special emphasis on current economic events and their implications for U.S. policy. This series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies.

Event with Heidi Crebo-Rediker , Susan M. Lund, Adam Posen and Sebastian Mallaby January 23, 2020 World Economic Update

Iran

Reports of Oil’s Demise May Be Premature

I have a rule of thumb on the oil price cycle: When commentators start using the word “never” we are typically at the brink of a cycle shift. For a while now, oil prices have been stuck in a range. T…

Blog Post by Amy M. Jaffe November 22, 2019 Energy Realpolitik
Climate Change

Impact of Climate Risk on the Energy System

Climate change poses risks to energy security, financial markets, and national security. Energy companies and local, state, and federal governments need to better prepare to face these challenges.

Report by Amy M. Jaffe, Joshua W. Busby, Jim Blackburn, Christina Copeland, Sara Law, Joan M. Ogden and Paul A. Griffin September 10, 2019 Greenberg Center for Geoeconomic Studies
Financial Markets

The End of Shareholder Primacy?

The recent decision by America's Business Roundtable to abandon its support for shareholder primacy was a long time coming, and reflects a broader shift toward socially conscious investment. Now that the multi-stakeholder model is receiving the attention it deserves, it will be incumbent on governments to create space for it to succeed.

Article by A. Michael Spence August 26, 2019 Renewing America
Renewable Energy

A New Dawn for Wind Energy Infrastructure After the Production Tax Credit Sunset

The wind industry is approaching the end of its federal financial support. Political leaders around the country are debating the best ways to continue supporting the wind industry.

Blog Post by Guest Blogger for Energy Realpolitik July 15, 2019 Energy Realpolitik
International Finance

Make the Foreign Exchange Report Great Again

The U.S. Department of the Treasury should transform its foreign currency report so it can be used as a tool to combat currency manipulation. This would be an important step toward a more balanced global economy with fewer persistent deficits and surpluses.

Policy Innovation Memorandum by Brad W. Setser June 17, 2019 Greenberg Center for Geoeconomic Studies
Monetary Policy

CEO Speaker Series: A Conversation with Al Kelly

Al Kelly discusses the accelerating transformation of the digital economy, including the global middle class, financial inclusion, and the future of work.

Event with Al Kelly and Glenn Hubbard April 10, 2019 CEO Speaker Series
United States

Why Schumer and Sanders Are Wrong on Buybacks

Blog Post by Benn Steil and Benjamin Della Rocca February 15, 2019 Geo-Graphics
Brazil

A Tale of Two Amazons

A comparison of two Amazons, one corporate and one natural, underscores the vast discrepancy between the health of the economy and the vitality of the environment.

Blog Post by Stewart M. Patrick January 29, 2019 The Internationalist
United States

Trump’s Tariffs Are Killing American Steel

“Our Steel Industry is the talk of the World,” President Trump tweeted in September. “It has been given new life, and is thriving.” Yet nearly a year after Trump slapped tariffs on imported st…

Blog Post by Benn Steil and Benjamin Della Rocca January 18, 2019 Geo-Graphics