Treasury Secretary Janet Yellen’s “mystery” may be moving towards resolution. When she led the Federal Reserve, Yellen puzzled over inflation’s failure to fire despite low unemployment, years of shallow interest rates and several rounds of quantitative easing. Claudio Borio, a top official at the Bank for International Settlements, likened the situation to peering through a looking glass: Central banks that ...

Bloomberg Malaysia will summon China’s ambassador to protest flights by 16 air force planes over the South China Sea that Foreign Minister Hishammuddin Hussein says were a “breach of Malaysian airspace and sovereignty.” The “suspicious” Chinese aircraft were spotted near the East Malaysian state of Sarawak, the Royal Malaysian Air Force said in a statement. They entered the Malaysian maritime ...

Bloomberg Opposition politician Dmitry Gudkov, a former deputy in Russia’s lower house of parliament, was detained, Tass reported, citing unidentified people in law enforcement. Lera Gudkova, the politician’s wife, confirmed the detention via Facebook and said his aunt was also being held in the case. His detention comes amid a widening crackdown against opponents of President Vladimir Putin since Kremlin ...