James Saft, Reuters Columnist
James Saft's columns feature twice weekly in the International Herald Tribune and widely elsewhere. Before beginning his column, he directed all global coverage of economics and financial markets for five years at Reuters. His column won a Best in Business award in 2008 from the Society of American Business Editors and Writers. Before that he was global investment editor and chief correspondent, London capital markets. He has covered mortgage banking for American Banker before the term "subprime" was coined and syndicated lending for Reuters LPC in both London and New York.
The good news is that there is a handy tool, better than negative interest rates or asset buying, to jump-start the economy when the inevitable recession comes.
To understand secular stagnation, with its low inflation and low growth, look first at the growth of the information economy and the expansion of intangible assets.
The Trump administration’s vision of a rollback in banking regulation isn’t just dubious medicine for the economy, it will do shareholders no favors.