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Latest Kenneth Rogoff Stories

2009-06-04 08:25:55

Rising interest rates on rising debt could haunt the United States much like the crisis that sneaked up on U.S. homeowners, a Harvard University economist said. Interest payments on federal borrowing could reach $806 billion by 2019, up from $170 billion this year, The New York Times reported Thursday. With borrowing escalating to get world economies back on track, a one percentage point increase in interest rates could increase U.S. obligations by $50 billion a year, the newspaper said....

2009-03-23 09:14:01

Former U.S. trade negotiator Daniel Price has recommended that the World Trade Organization study the impact of stimulus packages on trade agreements. Price, who helped negotiate an agreement in November among Group of 20 nations to avoid passing new protectionist measures, said, No sooner was the G20 statement issued than it was breached. The World Bank said last week that 47 trade restrictions have been adopted since the G20 meeting in Washington. Some are concerned that stimulus packages,...

2009-03-09 07:28:48

U.S. Treasury bonds appear to be the investment choice of last result for investors and central banks, propping up the dollar's strength, experts said. Currency exchange rates that favor the dollar are helping the U.S. government finance its debt. But, the slanted exchange rates are not giving export markets a boost, given the global slowdown. As a result, virtually all of the low-income countries are in very serious trouble, said Eswar Prasad, a senior fellow at the Brookings Institution,...

2009-02-24 11:18:56

Concern is growing that the global recession will push several Eastern European countries into default, leading international economists said. After extending help to Ukraine, Iceland, Latvia and Hungary in recent months, Managing Director of the International Monetary Fund Dominique Strauss-Kahn said he expected a second wave of countries to knock at the door, The New York Times reported Tuesday. Financial systems are so intertwined, a snowballing credit crisis in Eastern Europe and the...

2005-06-27 13:57:06

By Mark Egan NEW YORK (Reuters) - Buddy, we gave already. Live 8 concert organizers want to spur a global groundswellof support for African debt relief, but experts say the biggestchallenge in the United States is changing entrenchedperceptions that it is the world's most generous country. Polls over the last decade show most Americans believe 10percent of the federal budget is spent on humanitarian andeconomic aid for the world's poor and that America gives morethan any other country....


Word of the Day
caparison
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.
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