Martin Hutchinson covers emerging markets and economic policy, drawing on 25 years of experience as an international merchant banker. He ran derivatives platforms for two European banks, before serving as director of a Spanish venture capital company, advisor to the Korean conglomerate Sunkyong and chairman of a US modular building company. In Zagreb he established the Croatian debt capital markets and set up the corporate finance operations of Privredna Banka Zagreb. Since 2000 he has been a financial journalist, and is the author of "Great Conservatives," a book on British political history. He has a first class Honours degree in Mathematics from Trinity College, Cambridge and a Harvard MBA.
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Stephen Blyth is taking over the university’s $36 bln endowment at a time when its investment strategy is faltering. Its 2014 performance was even bested by Ivy rival Yale. Calpers’ decision to ditch fee-heavy hedge funds may give Blyth a useful roadmap for reviving returns.
It certainly looks like monetary policy these days doesn’t have much effect on price changes. Its power over labour markets is also limited. Perhaps central banks should target savings, which have been too low in the United States. Higher interest rates would be a start.
Philly Fed President Charles Plosser’s retirement reduces the tighter-money group on the FOMC, though Cleveland’s Loretta Mester, on the committee in 2016, is a protégé. They may speak and vote against the consensus but must await a new Fed chairman and governors to prevail.
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- Puzzling Peruvian slump requires patience
- Colombia's top bank offers Americans a bumpy ride
- Cuba's policies worse for GDP than U.S. embargo
- Both jobs and policy culprits in U.S. inequality
- Mexico's loose purse strings could blunt reforms