The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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Bullard: No need for international monetary policy coordination

WASHINGTON (MarketWatch)
St. Louis Fed President James Bullard said he's of the view that the so-called "taper tantrum" that rocked emerging market in the summer of 2013 represented "global macroeconomic equilibrium in action" and doesn't argue for better coordination of international monetary policy
Whether the U.S. is following the Taylor principle or not hinges on what one thinks about unconventional monetary policy," Bullard said at the 27th Asia/Pacific Business Outlook Conference in Los Angeles
"If unconventional U.S. monetary policy is effective, the traditional view is more nearly correct and the gains from international policy coordination would be small
If unconventional policy is ineffective, the alternative view is more nearly correct and the global gains from the U.S. shifting to a better policy may be large," he explained                   

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Lew: Japan needs to take long-term reform steps

Lew: China has clearly shown yuan can move down

Lew: China needs market-determined exchange rate

Lew: Better policies in many countries would help

Lew: Many places in global economy could do better

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Big banks to get higher capital requirement

Increase in leverage ratios means biggest banks will have to add $68 billion to level

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WASHINGTON (MarketWatch) -- Federal Reserve officials had a secret video conference call in early March to discuss overhauling its communication to the market and reached a general consensus that the 6.5% unemployment rate threshold for the first rate hike was outdated, the central bank said Wednesday. A summary of the video conference was included in the minutes of the Fed's March 18-19 meeting released by the Fed. On the conference call, the central bankers were clearly worried that changing the forward guidance would impact markets. They noted that, going into the video conference, the Fed and the markets were on the same page about the outlook for short-term interest rates. The minutes of the March 18-19 meeting also reveal that there was concern that the markets would read too much into the "dot plot" which showed an upward shift in the Fed's expectations for short-term rates. Officials also spelled out headwinds that would keep rates low even after the first rate hike. These headwinds included higher precautionary savings by consumers.

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Evans sees below-target inflation for years

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WASHINGTON (MarketWatch) -- Many people who argue that inflation is just around the corner have been repeating the same warning for the past five years, said Charles Evans, the president of the Chicago Federal Reserve Bank, on Wednesday. "I confess that I am somewhat exasperated by these repeated warnings given our current environment of very low inflation," Evan said in a speech at an economic policy conference in Washington D.C. Evans said he still sees the economic environment pointing to below-target inflation "for several years." Evans debunked current arguments that inflation is just over the horizon. He said that there is "substantial room" for stronger wage growth without inflation pressures building and added the Fed's large balance sheet is not a "classic warning sign" of inflation. Commodity prices also seem to be an unlikely propellent of inflation at the moment, he said.

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