Competition and Anomalies Redux: Evidence from U.S. Auto Dealers

Frustrated at the collapse of his poorly-considered Memorandum of Understanding with Iran, President Trump has declared the US will reimpose its blockade of the Strait of Hormuz and begin charging a 20 percent fee for passage. It’s genuinely astonishing for the government of the United States to blithely repudiate one of its most important contributions to international order. The US has…

AI models are developing rapidly, and Washington may be struggling to keep pace with the cybersecurity vulnerabilities they may expose. President Trump’s June executive order attempts to narrow that gap by creating a voluntary framework for certain frontier models and directing federal agencies to strengthen cyber defenses, identify vulnerabilities, and coordinate patching. But the order…

Image: Canva Studio/Pexels The third in a series of extracts from Global Government Forum’s new study on future-proofing digital capability examines how a level of digital capability is now needed by all civil servants, not just technical staff, and how governments are working to achieve this Governments are moving from treating digital as a technical…

Growth theory is based on the assumption of exponential total factor productivity (TFP) growth, or that the conditional expectation of the next TFP increment is proportional to the current level of TFP. In the U.S., we find strong evidence that TFP growth is conditionally additive, not exponential. Even starting from low priors, Bayesian estimation selects…

Thursday, January 8, 2026 Water Recycling Program Could Help Drought-Stricken Communities In some parts of the United States, growing populations and prolonged droughts are straining water supplies. Large-scale water recycling could offer these communities a solution to their shortages. In a new report, we looked at the status of these efforts and their challenges. We’ll…

Present Committee members: David Roberts, ChairAndrew Bailey, GovernorSarah Breeden, Deputy Governor – Financial StabilityClare Lombardelli, Deputy Governor – Monetary PolicySir Dave Ramsden, Deputy Governor – Markets & BankingSam Woods, Deputy Governor – Prudential RegulationJonathan BewesSabine ChalmersLord Jitesh GadhiaDame Anne GloverDiana NobleTom Shropshire In attendance: Sarah John, Chief Operating Officer Secretary: Sebastian Walsh, Secretary of the…