Chapter News

17 Jan
Chapter News

IMF | As One Cycle Ends, Another Begins Amid Growing Divergence

Blog post by Pierre-Olivier Gourinchas | We project global growth will remain steady at 3.3 percent this year and next, broadly aligned with potential growth that has substantially weakened since before the pandemic. Inflation is declining, to 4.2 percent this year and 3.5 percent next year, in a return to central bank targets that will allow further normalization of monetary policy. This will help draw to a close the global disruptions of recent years, including the pandemic and Russia’s...

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16 Jan
Chapter News

DoC | U.S. Department of Commerce Announces $1.4 Billion in Final Awards to Support the Next Generation of U.S. Semiconductor Advanced Packaging

Today, the U.S. Department of Commerce has announced that CHIPS National Advanced Packaging Manufacturing Program (NAPMP) has finalized $1.4 billion in award funding to bolster U.S. leadership in advanced packaging and enable new technologies to be validated and transitioned at scale to U.S. manufacturing. These awards will help establish a self-sustaining, high-volume, domestic, advanced packaging industry where advanced node chips are both manufactured and packaged in the United States.    These awards include: A total of $300 million under the CHIPS...

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16 Jan
Chapter News

OECD | Pillar One Update from the Co-Chairs of the Inclusive Framework on BEPS

Following our update in May 2024, we want to report on the progress made by the Inclusive Framework on BEPS (IF) in the development of a final package for Pillar One of the Two‐Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy agreed in October 2021. This package includes two components: a text of the Multilateral Convention (MLC) to implement Amount A and a framework for Amount B. Amount A Amount A introduces a system...

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15 Jan
Chapter News

IMF | Top Five Trends in the Role of the Accounting Profession on Public Finances in 2025

By Srinivas Gurazada | Historically, accountants have been perceived as mere ‘bookkeepers’ who record vouchers and prepare budget execution statements of government. Accounting was seen as a technical responsibility of the Accountant General's office, which prepares financial statements, and the Auditor General, who conducts audits. This was considered a ‘control formality’ with limited implications for the rest of the government or citizens. However, the past two decades have seen significant changes to this perception. Here are five top trends...

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15 Jan
Chapter News

ECB | Exploring an uncertain future with the help of scenarios

Blog post by Matteo Ciccarelli, Matthieu Darracq Pariès, Bettina Landau and João Sousa | Central banks project future developments based on past data patterns and a set of assumptions. Crises can change economic structures, complicating this forecasting. The ECB Blog explains how scenario, risk and sensitivity analyses address the new uncertainty. We use economic models and data patterns from the past to project the future. In normal times, assessing what conditions will be like in the near future can be...

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14 Jan
Chapter News

FSB | The Relevance of Transition Plans for Financial Stability

Transition plans hold potential for enhancing financial stability assessments by providing forward-looking information that can be useful to measure and monitor climate-related risks. This report considers the role that financial and non-financial firms’ transition plans can play for financial stability assessments, in particular as a source of information for monitoring climate-related financial risks and vulnerabilities, and as a tool for helping to address some of those risks. Climate transition planning and the resulting outputs – transition plans – have seen increased...

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14 Jan
Chapter News, Trade & TTIP Related

DoC | Prioritizing Space Commerce Within the Commerce Department

Today, the Department of Commerce Office of Space Commerce published a report on the department’s space commerce accomplishments under the Biden-Harris Administration.  A message from Don Graves, Deputy Secretary of Commerce Under the Biden-Harris Administration, the Department of Commerce has taken many concrete actions to promote the growth and competitiveness of the U.S. commercial space sector. The Department’s strategic objective to “advance U.S. leadership in the global commercial space industry” makes the lives of American citizens easier every day. Critical space services –...

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13 Jan
Chapter News, New York Related News

NY Fed | Inflation Expectations Mixed; Job Turnover Expectations Decline

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2024 Survey of Consumer Expectations, which shows that inflation expectations were unchanged at the short-term horizon, increased at the medium-term horizon, and decreased at the longer-term horizon. The average perceived likelihoods of a job loss, voluntary job separation, and finding a job in the event of a job loss all declined. While year-ahead household income growth expectations declined slightly and are now comparable to...

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10 Jan
Chapter News

ECB | Public vs. private R&D: impacts on productivity

Blog post by Arnaud Dyèvre | Investments in R&D typically foster productivity growth. But the funding source matters. The ECB Blog shows that publicly funded R&D complements private investments and has greater effects on productivity growth because of its larger spillovers. Arguably, the track record of government-funded innovation is mixed. On the one hand, governments have funded some technological endeavours that later turned out to be unsuccessful and costly. On the other hand, the history of technology is also filled...

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09 Jan
Chapter News, Trade & TTIP Related

DoC | International Trade Administration Highlights 2024 Achievements to Strengthen U.S. Competitiveness and Economic Security

WASHINGTON, D.C. - The U.S. Department of Commerce’s International Trade Administration (ITA) is proud to announce its 2024 achievements, highlighting key efforts to enhance the competitiveness of U.S. businesses and workers, strengthen supply chains, and drive innovation in international trade. “2024 was yet another impressive year for U.S. competitiveness across international markets,” said Under Secretary for International Trade Marisa Lago. “From strengthening supply chains to sustaining U.S. leadership in technology and innovation, ITA continues to enhance U.S. economic security and promote...

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