Erian, Allianz Chief Economic Advisor, warned that the labor market poses the biggest risk to the U.S. economy, despite sticky inflation.

Banks can use the discount window to fend off a run by prepositioning assets with the Fed and borrowing against them. Following the March 2023 bank runs, policymakers have considered mandatory ...

Contrary to this assumption, we document that underemployment of quasi-fixed inputs or low capacity utilization rates (CUR) is common across firms, especially in poor countries. Low CURs are ...