Narayana Kocherlakota Have the U.S. Federal Reserve’s policies contributed to wealth inequality? Probably, but not in the way the central bank’s detractors think. Critics of the Fed’s efforts to support economic growth often argue that policies such as low interest rates and asset purchases have disproportionately benefited the rich. After all, they work in part by pushing up the ...

  Jean-Michel Paul The dilapidated state of infrastructure in Belgium, home to the European Union’s main institutions, has become emblematic of a lack of investment that blights the whole continent and, according to the EU itself, is creating “lasting bottlenecks that undermine productivity growth.” This problem can be fixed, but probably not without reforming the bloc’s destructive restrictions on government ...

Trade policy has taken a beating on the U.S. presidential campaign trail. It’s been blamed for the United States’ economic troubles and for creating the social strife and unease that has driven an unusually populist presidential campaign season. It’s a difficult context in which to pitch the Trans Pacific Partnership, one of the most ambitious trade agreements in history. But ...