Christine Lagarde has taken the helm of the European Central Bank (ECB) at a time of rising skepticism over the power of monetary policy. Critics say that the central bank has no tools left to bring inflation back to its target of close to, but below, 2%. The ECB is now a helpless bystander, they claim, as the power to ...

Investors are turning their back on fossil fuels. Sweden’s central bank sold its holdings of sovereign debt issued by Canadian and Australian local governments dependent on fossil fuel extraction, the Riksbank said. A day later, the European Investment Bank said it would stop providing funding for conventional fossil fuels by 2022. One response might be to yawn. Divestment has “reduced ...

Although President Donald Trump and Federal Reserve Chairman Jerome Powell have been at odds on Twitter and in official statements, the two share remarkably similar views about the economy and what needs to be done to improve it. The trick for the chairman will be to carry out monetary policy without appearing to cave to the president — and the ...