Chapter News

04 Nov
Chapter News

ECB | The digital euro: what’s in it for you?

By Piero Cipollone | As they juggle various cards, apps and devices, most Europeans find that digital payments have fallen short of their promise to provide a convenient euro area-wide solution. The ECB’s Piero Cipollone explains how a digital euro would blend the simplicity of cash with digital convenience. Twenty-five years ago, the introduction of the euro transformed Europe. For the first time, people in different countries were using the same banknotes and coins. Who would have thought that the...

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04 Nov
Chapter News, New York Related News

New York State Governor | Governor Hochul Announces More Than $435 Million in State Grants for Local Water Infrastructure Improvements

Delivers on Governor Hochul’s 2024 State of the State Initiatives To Help Small, Rural and Disadvantaged Communities With Their Water Infrastructure Needs Funding Awarded Across New York State in All 10 Economic Development Regions Enhanced Awards for 32 Projects in Small, Rural Communities   Governor Kathy Hochul today announced that more than $435 million is being awarded to 102 critical water infrastructure projects across New York State through the Water Infrastructure Improvement and Intermunicipal Grant programs. The grants awarded by...

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04 Nov
Chapter News

World Bank | October 2024 Commodity Markets Outlook

Executive Summary: Commodity prices are expected to decrease by 5 percent in 2025 and 2 percent in 2026, after softening 3 percent this year. This would lead aggregate commodity prices to their lowest levels since 2020. The projected declines are led by oil prices but tempered by price increases for natural gas and a stable outlook for metals and agricultural raw materials. The Brent crude oil price is projected to average $80/bbl in 2024, before slipping to $73/bbl in 2025...

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31 Oct
Chapter News

ECB | The performance of Eurosystem/ECB staff projections for economic growth since the COVID-19 pandemic

Prepared by Adrian Page | Published as part of the ECB Economic Bulletin, Issue 7/2024. In the post-pandemic period, Eurosystem/ECB staff projections for growth have performed well over short horizons, despite the large shocks that have occurred. While the performance of inflation projections since the start of the pandemic has been extensively documented in previous issues of the Economic Bulletin, this box looks at how the Eurosystem/ECB staff projections for real GDP growth have fared during this turbulent period. The growth fluctuations in...

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31 Oct
Chapter News, New York Related News

New York State Governor | Governor Hochul Announces New York Has Landed the First National Semiconductor Technology Center Facility in the Nation

Prestigious Designation Unlocks $825 Million in Federal Funding for Semiconductor R&D at NY CREATES' Albany NanoTech Complex Cements New York as America’s Leading Semiconductor R&D Hub, Will Enable Continued Expansion of State’s High-Tech Ecosystem and Bring Back Hundreds of Good Paying Manufacturing Jobs to New York State The CHIPS for America EUV Accelerator at NY CREATES Will Support U.S. Technological Sovereignty, National Security, American Economic Vitality and Lead to More Powerful Chips for Technology Used Everyday Governor Kathy Hochul today celebrated the...

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30 Oct
Chapter News

European Commission | European Innovation Council to invest €1.4 billion in deep tech and scale up of strategic technologies in 2025

The European Innovation Council (EIC), part of the EU research and innovation programme Horizon Europe, will support European deep tech research and high-potential start-ups with €1.4 billion next year. The EIC Work Programme 2025, which the Commission adopted today, represents an increase of nearly €200 million in comparison with 2024. In addition to a bigger budget, the 2025 work programme brings several improvements, including better access to scale-up equity funding with the EIC Strategic Technologies for Europe Platform (STEP) scale-up scheme,...

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30 Oct
Chapter News

ECB | Geopolitical fragmentation in global and euro area greenfield foreign direct investment

Prepared by Lukas Boeckelmann, Lorenz Emter, Isabella Moder, Giacomo Pongetti and Tajda Spital This box reviews recent developments in global and euro area greenfield foreign direct investment (FDI) and analyses the role of geopolitics in shaping these. As firms and policymakers increasingly look at ways to reduce the vulnerability of their supply chains, understanding recent dynamics in greenfield investment is important as these may foreshadow a reconfiguration of global trade networks, the fragmentation of which could be particularly detrimental for the...

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30 Oct
Chapter News

DoC | Commerce Marks One-Year Anniversary of Historic Biden-Harris Administration Executive Order on AI

Leading up to the inaugural convening of the International Network of AI Safety Institutes, Commerce Department highlights implementation of President Biden’s historic AI Executive Order, which tasked the Department with numerous responsibilities to spur the safe development, deployment and adoption of responsible AI.  Today, U.S. Secretary of Commerce Gina Raimondo marked the one-year anniversary of President Biden and Vice President Harris’ historic Executive Order (EO) on the Safe, Secure and Trustworthy Development of AI by reflecting on the progress made by the Commerce...

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29 Oct
Chapter News, TRIA News

EIB Global and the European American Chamber of Commerce New York establish the Transatlantic Resilient Infrastructure Alliance in collaboration with the United States DFC and EXIM Bank

October 29, 2024 New York, NY The European Investment Bank (EIB) and the European American Chamber of Commerce New York (EACCNY) signed a Memorandum of Understanding on Monday to establish the Transatlantic Resilient Infrastructure Alliance, a platform for engaging with the private sector to boost infrastructure financing in low- and middle-income countries. This alliance will provide a new grouping for a select set of actors involved in infrastructure development and financing, building a transatlantic platform with major organisations from the US...

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29 Oct
Chapter News

ECB | Working Paper Series: Asymmetric monetary policy spillovers: the role of supply chains, credit networks and fear of floating

Abstract: This paper examines the asymmetry in global spillovers from Fed policy across tightening versus easing episodes several examples of which have been on display since the global financial crisis (GFC). We build a dynamic general equilibrium model featuring: (i) occasionally binding collateral constraints in the financial sector with significant cross-border exposure; and (ii) global supply chains, allowing us to match the asymmetry of spillovers across contractionary versus expansionary monetary policy shocks. We find clear asymmetries in the transmission...

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