Donald Trump tests the limits of campaign speech. He makes false statements and refuses to correct them. He attacks other religions and ethnic groups, inflaming domestic tension and foreign terrorist rage. He pledges to overhaul long-standing US commitments in ways that frighten allies. He cavalierly predicts a “massive recession,” undermining confidence in the US economy. When criticized, Trump adopts the …

Massive recession and charges of juggling government accounts to disguise the depth of budget shortfalls during her 2014 re-election, combined to weigh heavily on Brazilian President Dilma Rousseff, who is currently facing imminent impeachment. But she and her supporters argue that this relatively technical accusation regarding the budget is not an impeachable offence. Indeed, the grip is tightening on Rousseff, …

Narayana Kocherlakota The steady improvement of the U.S. economy has led many to conclude that the Federal Reserve should keep removing stimulus by resuming interest-rate increases this year. I disagree: With inflation pressures low, there’s a lot more the Fed can and should do to get people back to work. To understand my point, consider three charts. The first shows …