Rebels break the siege of Aleppo, but at a cost

EVER since Russia entered the Syrian civil war on the side of the Syrian regime led by Bashar al-Assad, rebel groups in Aleppo have been progressively isolated and besieged. In February they lost their main access route to Turkey; and two weeks ago the fighters in the east of the city, with a population of perhaps 250,000, were cut off entirely. It threatened to become the biggest and nastiest siege in the five-year-long war. Despair, it seems, forced a show of unity by the disparate rebel groups, with striking effect.Read More

The Fed is rethinking one thing too many

OFFICIALS at the Federal Reserve, a few of them anyway, seem to be rethinking their views of the economy in some dramatic ways. In a new blog post, however, Ben Bernanke suggests that Fed watchers shouldn’t overstate the radicalism of the intellectual evolution within the Fed. Top policy-makers still have confidence in their mental model of the economy; they have just been tweaking a few of the parameters within that model, he says. In particular, the Fed’s long-run projections for GDP growth, the unemployment rate and their benchmark interest rateRead More

The great wall of Trump

Buttonwood columnist Philip Coggan hosts as Callum Williams explains how the Bank of England is trying to stimulate lending. Adam Roberts checks in on the health of Silvio Berlusconi’s business empire. And, US data journalist Wade Zhou investigates the costs of Donald Trump’s proposed border wall with Mexico Continue reading Powered by WPeMatico

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