CSFI Economic Outlook: Andrew Hilton's take on what you should be worried about...

Why you should watch: The big news last week was probably Yellen's U-turn on a global tax deal - capitulation on European demands that third countries ought to be able to tax Big Tech (and other MNCs) on their sales in third countries, offset by a demand for a global minimum tax and an end to tax havens. Lots of problems - but no doubt it is a step forward. Plus there was the Biden Administration's own tax plans - which, as expected, involved a graduated increase in corporate taxes, an end to fossil fuel subsidies (good luck on that) and a big increase in funding for the IRS. On this side of the Atlantic, Macron is in some trouble, and German politics has suddenly taken a new turn with Soder's announcement that he will challenge Lashet for the CDU/CSU Chancellor-candidacy. As for the global economy, well, the IMF has jacked up its forecasts - thanks to Biden's stimulus package. But the actual numbers are a tad disappointing. Maybe Powell and Yellen are right to keep policy on max. Oh, and don't forget either Greensill or Archegos: two scandals in as many weeks suggests there is something wrong at a systemic level.

In his Weekly Economic Outlook, Andrew Hilton, the CSFI’s Director, discusses the current crisis, its impact on the global economy, and what we may be missing.

Andrew is a former World Bank economist, who also ran a small economic consultancy advising international clients, particularly in the Middle East. He has an MA from New College, Oxford, an MBA from Wharton, and an MA and PhD from the University of Pennsylvania, where he was a Thouron Scholar and Kent Fellow.

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Produced/Edited by Alex Treptow