Where’s that inflation we were promised? That’s the question Senators Elizabeth Warren and Sherrod Brown asked economist Marvin Goodfriend during contentious hearings over his nomination to the Federal Reserve Board. In 2011, Goodfriend had said that inflation would grow more severe. But inflation, as the senators noted, has been relatively low since then. The Fed says it wants a measure ...

For once, the fine print in India hasn’t damped enthusiasm for the broad-brush plan. New Delhi’s Rs2.11 trillion bank recapitalisation, detailed last week, goes to the heart of state-run lenders’ acute capital shortage. With a little help from the global economy—and from finance minister Arun Jaitley’s forthcoming budget—India Inc. can finally rediscover its missing animal spirits. Soaring equity valuations will ...

Bloomberg Pressure on the ratings of India’s state-owned banks is set to ease after the government unveiled plans to inject 881 billion rupees ($14 billion) of fresh capital to help the lenders meet looming Basel norms without hurting a nascent recovery in credit growth. “The large recapitalisation is credit positive and will stem downward pressure on viability ratings, which have ...