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antoniofatas.bsky.social
Antonio Fatas
@antoniofatas.bsky.social
2.6K followers 750 following 2.7K posts

Professor of Economics at INSEAD. Interested in global macroeconomic issues.

Videos
Economics 92%
Political science 5%
Posts Media Videos Starter Packs

Reposted by Iikka Korhonen, Antonio Fatás

voxeu.org
VoxEU @ CEPR @voxeu.org · 8d
Steven Kamin analyses how, in the months following 'Liberation Day', the dollar switched from rising during periods of market volatility to falling, and thus appeared to switch from a safe-haven to a 'risk-on' currency.
cepr.org/voxeu/column...
#EconSky
Graph of the VIX volatility index and DXY dollar index from 1 January to 26 August 2025. A dashed vertical line identifies 'Liberation Day'. There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in the months following the Trump administration’s “Liberation Day” announcement, the dollar switched from rising during periods of market volatility to falling, and thus appeared to switch from a safe-haven to a ‘risk-on’ currency. Its reversion to traditional flight-to-safety behaviour in recent months may indicate that this ‘risk-on’ episode was a one-time event, but it is also possible that even as financial markets have calmed down, foreign entities are taking steps to reduce their dependence on the dollar for trade, payments, and investment.
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Reposted by Antonio Fatás

philipstephens.bsky.social
Philip Stephens @philipstephens.bsky.social · 9d
Blair role in Gaza politically crass and insulting to Palestinians. Yet I almost feel sorry for him. Most brilliant leader of his generation reduced to ventriloquist's dummy for Larry Ellison and lackey to Trump in desperate quest for relevance. Politics sometimes ends in tragedy as well as failure.
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Reposted by Jonathan Portes, Jan W. Mueller, Richard S.J. Tol , and 19 more

crampell.bsky.social
Catherine Rampell @crampell.bsky.social · 14d
"experts say"
www.cnn.com/2025/08/11/b...
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Reposted by Robert Wolfe, John Bistline, Antonio Fatás

kclausing.bsky.social
Kimberly Clausing @kclausing.bsky.social · 14d
🧵 (1/7) With @knittelmit.bsky.social and @cwolfram.bsky.social, happy to announce our new paper on “Who Bears the Burden of Climate Inaction?”, just posted for BPEA @brookings.edu.

We find large climate cost impacts that vary by both geography and income.

www.brookings.edu/articles/who...
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · 14d
It has never been about the technology or any real innovation in digital money and payments. It has always been about regulatory arbitrage.
Stablecoin issuer Circle examines ‘reversible’ transactions in departure for crypto
President says sector should learn from traditional finance and allow refunds in cases of fraud or disputes
www.ft.com
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Reposted by Antonio Fatás

mchinn.bsky.social
Menzie Chinn @mchinn.bsky.social · 23d
Industrial, mfg prodn, retail sales all above consensus... #EconSky
econbrowser.com/archives/202...
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Reposted by Antonio Fatás

mchinn.bsky.social
Menzie Chinn @mchinn.bsky.social · 25d
EJ Antoni says the recession is *here*!!! (as of August ***'24***) #EconSky
econbrowser.com/archives/202...
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Reposted by Daniela Gabor, Will Jennings, Antonio Fatás

hughrbrechin.bsky.social
Hugh Brechin @hughrbrechin.bsky.social · 25d
good that Keir has broken his silence this morning to ... continue posting on a website run by a man who yesterday addressed a far right rally to call for his overthrow, while not in any way addressing said far right rally
A post this morning from Keir Starmer on Elon Musk's X in which he welcomes American financial investment into the UK and makes no comment on other matters
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Reposted by Antonio Fatás

adamposen.bsky.social
Adam Posen @adamposen.bsky.social · 26d
It appears that Lisa Cook held off "proving her innocence" because she thought (rightly) she shouldn't have to. To have the courage to do that when the US state is attacking you is pretty darn admirable.
financialtimes.com
Financial Times @financialtimes.com · 27d
Fed governor Lisa Cook listed contested home as vacation property on.ft.com/46hiIu7
Federal Reserve governor Lisa Cook listed contested home as vacation property
Documents appear to contradict White House allegation that she committed mortgage fraud
on.ft.com
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Reposted by Antonio Fatás

theguardian.com
The Guardian @theguardian.com · 27d
Poland says Russia’s drone incursion ‘wasn’t a mistake’ after Trump’s speculation – Europe live
Poland says Russia’s drone incursion ‘wasn’t a mistake’ after Trump’s speculation – Europe live
Donald Trump appeared to be dismissive Thursday night as he said it ‘could have been an mistake’ Poland’s political leadership appears increasingly concerned by the muted US response to Thursday’s Russian drone incursion into Polish airspace. As more and more European partners condemn the incident and declare their support for Poland with concrete offers of help, the US president, Donald Trump, appeared to be more dismissive last night as he said it “could have been an mistake”. Continue reading...
www.theguardian.com
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Reposted by Norbert Schwarz, Christopher McCabe, Jon Green , and 7 more

cwarzel.bsky.social
Charlie Warzel @cwarzel.bsky.social · Sep 10
I wrote about what I think is a genuinely revealing document of elite depravity and impunity. It is shocking and sickening. But it's also a crucial moment. We're about to see what happens when conspiracy theorists actually get what they asked for but it turns out not to be what they want.
You Really Need to See Epstein’s Birthday Book for Yourself
This time, the conspiracy theorists were right.
www.theatlantic.com
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Sep 9
.
Israel launches attack on Hamas in Qatar
Explosions heard as political leadership of Palestinian militant group targeted for first time
www.ft.com
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Sep 9
I guess the father is smart enough and does not need an explanation??? IMF, you can do better [from the Finance and Development latest issue]
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Reposted by Antonio Fatás

sgerlach.bsky.social
Stefan Gerlach @sgerlach.bsky.social · Sep 3
In a paper presented at Jackson Hole, Emi Nakamura and her coauthors examine why central banks did not follow the Taylor rule when inflation rose sharply in 2021–22. The positive commentary the paper received prompted me to read it.
swissmacroandhistory.substack.com/p/comments-o...
Comments on Beyond the Taylor Rule
Credibility, expectations, and why central banks bent the rules
swissmacroandhistory.substack.com
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Reposted by Antonio Fatás

mcopelov.bsky.social
Mark Copelovitch @mcopelov.bsky.social · Sep 3
Congrats again to the elites who told us this guy was a credible Treasury Secretary because he went to the right schools & cocktail parties
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Reposted by Kim L. Scheppele, Dimitry Kochenov, Jeroen Van Bouwel , and 1 more

alemanno.bsky.social
Alberto Alemanno @alemanno.bsky.social · Sep 2
Wow. The EU was ready to sanction Google for abusing its ad monopoly today.

But it was blocked after pressure from EU Trade Commissioner @marossefcovic.bsky.social & the U.S. DoJ.

Europe just chose Washington’s corporate interests over its own citizens.

Unprecedented. Self-inflicted.
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Reposted by Richard S.J. Tol, Antonio Fatás

katie0martin.ft.com
Katie Martin @katie0martin.ft.com · Sep 1
Shitshow waiting to happen

on.ft.com/41sHC8D
Stablecoins could trigger taxpayer bailouts, warns Nobel laureate
[FREE TO READ] Digital tokens perceived as safe assets come with hidden risks for retail investors, says Professor Jean Tirole
on.ft.com
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Reposted by Anna O. Law, Elizabeth Sharrow, Ben H. Ansell , and 37 more

crampell.bsky.social
Catherine Rampell @crampell.bsky.social · Aug 29
Trump admin planning to change student visas from lasting for duration of academic program to fixed 4-yr term, and then much harder to renew
Could destroy US ability to attract global talent, particularly those seeking advanced degrees in STEM. The median time to complete a PhD is 5.7 yrs per NSF.
Trump Deals A New Immigration Blow To International Students
Trump officials have proposed a new rule limiting international students to fixed periods of entry, making a U.S. education more precarious.
www.forbes.com
97 710 1.5K

Reposted by Antonio Fatás

filipecampante.bsky.social
Filipe Campante @filipecampante.bsky.social · Aug 28
Now that we're experiencing life under authoritarianism in the US, I'm struck by how it's a lot like living in a high-crime environment. (I grew up in Rio de Janeiro.) 1/
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Reposted by Rosemary A. Joyce, Juan Cole, Daniel W. Drezner , and 1 more

carlquintanilla.bsky.social
Carl Quintanilla @carlquintanilla.bsky.social · Aug 28
Tariff inflation effects are just getting started.

(via Apollo)
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Reposted by Antonio Fatás

voxeu.org
VoxEU @ CEPR @voxeu.org · Aug 27
Digital currencies pegged to fiat money face a built-in tension between credibility and competition. @eduardoyeyati.bsky.social‬ & Sebastian Katz analyse competing frameworks in the #US and #China to address this
#stablecoin paradox.
cepr.org/voxeu/column...
#EconSky
Graph of stablecoin market growth vs US M2 and Treasury holdings, 2020-2025. Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of the US and China to address the paradox. The US (under the GENIUS Act) combines strict reserve rules for privately issued, fully backed dollar stablecoins with market incentives that encourage expansion. Meanwhile, China’s approach centres on a central bank digital currency deployed domestically and extended across borders. Further expansion of the digital currency system will require backstop access, global coordination on regulation, limits on intermediation, and integration with payment systems.
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Aug 26
They will be competitive but if regulations are relaxed in the US what is the advantage of issuing offshore stablecoins? Cross-border payments are not solved with stablecoins unless everyone adopts the same one. Or we create new rails that connect all of them - doubtful.

antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Aug 26
But today US citizens can hold yield bank accounts abroad... if the other country allows them, which is not always obvious. Isn't the issue more domestic as stablecoins paying an interest will be a competitive alternative to bank deposits?
1

Reposted by Antonio Fatás

jc-econ.bsky.social
Julia Coronado @jc-econ.bsky.social · Aug 26
Lisa D. Cook, Member, Federal Reserve Board of Governors

“President Trump purported to fire me “for cause” when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
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Reposted by Claudia Sahm, Menzie Chinn, Michael A. Clemens , and 8 more

pkrugman.bsky.social
Paul Krugman @pkrugman.bsky.social · Aug 25
If you think the attack on the Fed's Lisa Cook has nothing to do with you, you're wrong — any one of us may be next paulkrugman.substack.com/p/we-are-all...
We Are All Lisa Cook
Nobody is safe from weaponized government
paulkrugman.substack.com
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Reposted by Enrique Fatás

antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Aug 25
Very good article by @martinsandbu.ft.com. I am still debating whether pragmatism now to prepare for a future confrontation might make sense. But when I hear European leaders praise Trump I do feel like the title of this article: they are selling our soul.
financialtimes.com
Financial Times @financialtimes.com · Aug 25
Europe is selling its soul to Trump on.ft.com/3JBTEGx | opinion
Europe is selling its soul to Trump
What masquerades as pragmatism is self-harming opportunism
on.ft.com
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Reposted by Antonio Fatás

financialtimes.com
Financial Times @financialtimes.com · Aug 25
Europe is selling its soul to Trump on.ft.com/3JBTEGx | opinion
Europe is selling its soul to Trump
What masquerades as pragmatism is self-harming opportunism
on.ft.com
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Reposted by Claudia Sahm, Antonio Fatás

jaycshambaugh.bsky.social
Jay Shambaugh @jaycshambaugh.bsky.social · Aug 23
This is something the Administration would know if they read Lisa Cook’s work instead of attacking her. Arguably, her research has never been more relevant to the Fed’s mission. One has to assume innovation and biz formation by immigrants is falling right now.
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Aug 23
Yes, and probably trying to distance himself from others. Not the first time he does it.
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antoniofatas.bsky.social
Antonio Fatas @antoniofatas.bsky.social · Aug 23
The pressure on the independence of the US Federal Reserve is as bad as some of us had feared. I would love to understand what motivates this optimistic perspective from Raghuram Rajan
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