It has been a rough four weeks for America. Grim economic news, paralyzing political infighting, and the shocking loss of the sacred AAA sovereign credit rating. To make things worse, Americans' equity-heavy 401k's have suffered from a volatile 16 percent decline in the broad-based S&P stock market index.

It is...

It is another hot and humid Washington summer and, understandably, most politicians would rather be on holiday elsewhere. Moreover, with today's technology, they can easily stay in touch while escaping the sweltering weather. But this is not a typical summer given the economic difficulties facing the nation. We need politicians...

This article was originally published August 12, 2011, on FT.com.

Any further missteps from American and European policymakers risk converting raging crises within the global economy to a more devastating crisis of the global system. That is how fragile the situation is; and it is why the world...

​This article was originally published August 6, 2011 on FT.com.

There will be endless debate on whether S&P, the rating agency, was justified in stripping America of its AAA rating and -- adding insult to injury -- even attaching a negative outlook to the new AA+ rating. But...

Politicians have been busy this weekend negotiating a deal that would lift the debt ceiling and avoid the government having to prioritize its immediate payments and thus risk a debt default. This comes after a week in which macro policy uncertainties stood in stark contrast to solid corporate earnings, leading...

Friday's stunning and very public quarrel between the president and the Speaker of the House of Representatives was the catalyst for a weekend of frantic negotiations on how to increase America's debt ceiling, maintain the country's sacred AAA rating, and avoid a near-term default. Meanwhile, administration officials and members of...

I don't know about you, but whenever I am in an airplane experiencing turbulence, I draw comfort from the belief that the pilots sitting behind the cockpit's closed door know what to do. I would feel very differently if, through an open door, I observed pilots who were frustrated at...

Many have set it up as an economic competition: Britain's austerity versus America's dash for growth. And, not surprisingly, strong views have been expressed on which approach is better for restoring sustained employment creation and financial stability.

It is a good setup. Unfortunately, it is also incomplete as it fails...

This post is adapted from a commencement speech delivered at the American University in Cairo on June 16, 2011. It is cross-posted from Reuters.

It is a great pleasure to be with you today. I would like to express my deep appreciation to the Board of...

CAIRO -- In my first trip to Egypt since the fall of the Mubarak regime four months ago, I found a vibrant society dealing with the realities of deep national transformations and facing challenging headwinds. Based on interactions with a cross-section of society involved in building a "new Egypt," I...