Nell Henderson

Adam S. Posen on IEEPA ruling, tariff revenue, refunds for importers, and more Adam S. Posen (PIIE) joins CNN International to discuss the Supreme Court’s ruling on presidential authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA), other lega...

Must see TV! www.piie.com/newsroom/sho...

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The Supreme Court's welcome ruling on Trump's tariffs The US Supreme Court has ruled against President Donald Trump's sweeping tariffs imposed by claiming emergency powers under the International Emergency Economic Powers Act (IEEPA). These included the ...

Breaking News Analysis from PIIE expert Alan Wm. Wolff: The Supreme Court's welcome ruling on Trump's tariffs www.piie.com/blogs/realti...

The worst inflation outbreak in 40 years: Conference on distilling lessons from the COVID era During the recovery from the COVID-19 pandemic, inflation in the United States and many other countries surged to its highest level in more than 40 years, inflicting enormous pain on households and bu...

AGENDA UPDATE: At 12:30 PM ET, @adamposen.bsky.social will present new inflation forecasts from his recent collaborative work with Peter Orszag: "The Risk of Higher US Inflation in 2026." Stream it live below.

An audacious new book about a “precocious” country There is no such thing as “the” Indian growth model

www.economist.com/finance-and-...

The COVID era inflation surge: Causes, consequences, and policy lessons The COVID era inflation surge was shaped by an unusual confluence of shocks and policy responses. It nonetheless raises enduring questions about the interaction of demand, supply, expectations, and po...

Latest from PIIE's Karen Dynan and David Wilcox! The COVID era inflation surge: Causes, consequences, and policy lessons www.piie.com/publications...

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The America First investment pledges: How are they structured and are they realistic? In pursuit of President Donald J. Trump’s “America First” agenda, the administration has engaged in high-level bilateral negotiations with allies and partners to encourage them to invest in US industr...

Latest from PIIE's Mazarei and Auclair: The America First investment pledges: How are they structured and are they realistic? (Spoiler Alert: May be less than meets the eye) www.piie.com/publications...

Supreme Court Appears Poised to Reject Trump’s Attempt to Immediately Fire a Fed Governor

Supreme Court Appears Poised to Reject Trump’s Attempt to Immediately Fire a Fed Governor www.nytimes.com/2026/01/21/u...

Washington Post demands government return materials seized from reporter The Post demanded in a court filing Wednesday that federal law enforcement officials return electronic devices the government seized from a staff reporter’s home.

Breaking news: The Post demanded in a court filing that federal law enforcement officials return electronic devices the government seized from a staff reporter’s home, writing that the search “ignores federal statutory safeguards for journalists.”

Read the full transcript of Carney’s speech to World Economic Forum - National | Globalnews.ca Prime Minister Mark Carney gave a forceful speech in Davos, Switzerland, on the 'new world order' and how middle powers like Canada can benefit by working together.

Recommended reading:Important words of wisdom from Carney globalnews.ca/news/1162087...

The risk of higher US inflation in 2026 The consensus view among forecasters is that inflation will continue its gradual descent toward the Federal Reserve's 2 percent target through 2026. Similarly, market pricing suggests investors believ...

Latest must-read from Orzag and Posen: www.piie.com/blogs/realti...

What Trump's fight with Powell could mean for the Fed's future President Trump has been trying to bully the Federal Reserve into cutting interest rates. It's a gambit that could lead to more inflation.

Listen to this! PIIE's Posen tells NPR why Fed Chair Powell had to push back publicly against the federal criminal investigation. www.npr.org/2026/01/13/n...

The Economic Toll of Trump’s Policies Will Soon Be Visible Mainstream economists have underestimated the cost of all the confusion the administration has unleashed, particularly on trade and immigration.

The latest from PIIE President Adam S. Posen: www.bloomberg.com/news/article...

Opinion | Trump’s Attack on the Fed Is Already Backfiring

Jason Furman: Trump’s Attack on the Fed Is Already Backfiring www.nytimes.com/2026/01/12/o...

Global Central Bank Heads Back Fed’s Powell The statement from the European Central Bank and others is an unprecedented step that underlines how seriously they view the threat to the Fed’s independence.

A group of central banks from around the world issued a statement in support of Jerome Powell, an unprecedented step that underlines how seriously they view the threat to the independence of the Fed on.wsj.com/3LcDi8H

Striking Fed support: GOP Senators Criticize Probe of Fed Chair Powell wsj.com

Central bank independence in practice The Peterson Institute for International Economics held a high-level conference in October 2025 in Washington, DC, to analyze the serious issues concerning central bank independence in practice. The g...

Good time to brush up on what the experts say on the topic: Central bank independence in practice www.piie.com/publications...

YouTube video by Federal Reserve Statement by Federal Reserve Chair Jerome H. Powell

youtu.be/KckGHaBLSn4
Boom! Unprecedented Fed Mic Drop

Attempting to criminalize the actions of an independent public servant, Fed Chair Jay Powell, for the sin of acting independently is an outrage. It's bad economics, bad politics, bad for the rule of law, bad for the public sector, bad for American credibility and bad for Americans.

Some countries that have prosecuted or threatened to prosecute central bankers for the purpose of political intimidation or punishment for monetary policy decisions: Argentina, Russia, Turkey, Venezuela and Zimbabwe.

Tillis is spot on. The Senate can't confirm a Trump toady to succeed Powell at the Fed. The rest of the game is now out in the open, and it doesn't end well.

Statement from Federal Reserve Chair Jerome H. Powell Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testi

“This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation”

It’s about time the Fed took the gloves off

www.federalreserve.gov/newsevents/s...

Central bank independence in practice The Peterson Institute for International Economics held a high-level conference in October 2025 in Washington, DC, to analyze the serious issues concerning central bank independence in practice. The g...

Whoa! Unusual times! DOJ threatens criminal indictment of the Fed. Chair Powell releases a video saying this is part of Trump's pressure on the Fed to lower rates. Time to re-read PIIE's Brief on the importance of Central Bank Independence in Practice: www.piie.com/publications...

Statement from Federal Reserve Chair Jerome H. Powell Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testi

Powell makes video statement on DoJ investigation of him: The threat of criminal charges is a consequence of the Fed setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.
www.federalreserve.gov/newsevents/s...

Statement from Federal Reserve Chair Jerome H. Powell Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testi

Fed Chair Powell fires back at latest Trump attack: “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”

Economic heavyweights sound alarm over new currency – top economist fears panic His analysis is deeply unsettling. The United States is in the middle of a financial experiment. If it goes wrong, it could end in a financial crisis 2.0.

“You can have volcanoes in the economy that you haven’t seen yet,” @adamposen.bsky.social says, referencing Emily Dickinson. Stablecoins are one: a latent threat that could erupt & trigger a financial meltdown. The lava could cause destruction reminiscent of what happened in 2008.

Economic heavyweights sound alarm over new currency – top economist fears panic His analysis is deeply unsettling. The United States is in the middle of a financial experiment. If it goes wrong, it could end in a financial crisis 2.0.

This major US financial stability risk has not been getting sufficient attention.
So, I am using this feature I did with the Danish "Borsen" - in English - to try to raise this concern.
If you find the argument clear and therefore worrying, please circulate, thanks.

www.piie.com/commentary/o...

PIIE's most read pieces of 2025 Every year, I write this roundup, and every year, I start it with some variation of "what a year it's been!" Reader, what a year 2025 has been. Here are our most read pieces published this year. We ar...

Check out our most read pieces of 2025 👇

Trump's Thanksgiving tariff relief amounts to $35 per US household New York City mayor-elect Zohran Mamdani won office early this month promising to address voters’ concerns about “affordability.” Soon after, on November 14, President Donald Trump issued an executive...

Latest from PIIE's Gary Hufbauer: Trump's Thanksgiving tariff relief amounts to $35 per US household www.piie.com/blogs/realti...