International investors are the most bullish they’ve been on the U.S. and Japanese markets in more than 3-1/2 years as both countries’ economies are seen as improving, according to the latest Bloomberg Global Poll.
Pacific Investment Management Co., home to the world’s biggest fixed-income fund, is shying away from risky assets as it sees a growing disconnect between the performances of financial markets and the global economy.
Harvard University economists Carmen Reinhart and Kenneth Rogoff acknowledged today that they had made a mistake in a 2010 paper that has been used to justify fiscal consolidation in the U.S. and Europe, while arguing that the error didn’t change the basic findings of their research.
A paper by Harvard University economists Carmen Reinhart and Kenneth Rogoff that has been cited by Republican lawmakers to justify eliminating the budget deficit contains “serious errors,” according to a study by a group of University of Massachusetts academics.
A newly elected Democratic president pushes a controversial tax increase through Congress without a single Republican vote. A veteran Federal Reserve chairman holds short-term interest rates at record lows. And the economy struggles to recover from a financial crisis.