If UK Prime Minister Boris Johnson seems rather glib about the idea of his country crashing out of the European Union without a deal — an outcome that myriad authoritative bodies have predicted will be highly costly for the UK economy — it is most likely because there is something he fears more than that. Nigel Farage’s Brexit Party is ...

The US Federal Reserve has developed a pretty poor track record for meeting its inflation and employment goals. If it wants to do a better job, it should follow Canada’s example and set some deadlines. More than four decades ago, Congress mandated that the Fed’s monetary policy pursue two objectives: price stability and maximum employment. In January 2012, the central ...

First they came for central banks, then they came for government bonds, then they came for rich depositors. Then they came for me. Negative interest rates are coming for us all, in one form or another, as central banks redouble their efforts to avert a global economic slowdown that threatens to unleash deflation. So how can we defend ourselves from ...