Raghuram G. Rajan: Will the Fed Overdo It?

with Mariana Mazzucato, Nina L. Khrushcheva, Minxin Pei, Stephen S. Roach, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( JANUARY 29, 2023 This week at [Project Syndicate]( Daniel Yergin highlights potential barriers to the transition from fossil fuels to renewables and electrification; Joseph E. Stiglitz criticizes the US Federal Reserve’s extremely costly interest-rate policy; Mariana Mazzucato explains why we must distinguish between profits from collective investment and profits from extractive rents; and more. Economics & Finance [The Energy Transition Confronts Reality]( [Daniel Yergin]( sees four major challenges that will complicate a full-scale shift away from hydrocarbons. Economics & Finance [How Not to Fight Inflation]( [Joseph E. Stiglitz]( sees little upside and much downside to further monetary-policy tightening by the US Federal Reserve. [PS Longer Reads: The New European Frontier]( [The New European Frontier]( [Giulio Boccaletti]( thinks a changing climate will force the European Union finally to embrace its political nature. Politics & World Affairs [For the Common Good]( [Mariana Mazzucato]( outlines a new governance model for ensuring a fairer distribution of agency, risk, and reward. Economics & Finance [Will the Fed Overdo It?]( [Raghuram G. Rajan]( considers the central bank's limited options as it navigates an increasingly perilous economic environment. [PS. Subscribe now to secure your copy of PS Quarterly: The Year Ahead 2023]( Politics & World Affairs [Assassinated Are the Peacemakers?]( [Nina L. Khrushcheva]( highlights the grave risks that Ukrainian President Volodymyr Zelensky would incur by negotiating with Russia. Economics & Finance [Is Europe Deindustrializing?]( [Yanis Varoufakis]( argues that the problem is bigger than factory closures, as the automobile and green-energy sectors show. [PS Big Question: Could the “Chinese Century” Belong to India?]( [Could the “Chinese Century” Belong to India?]( [Pranab Bardhan]( [Brahma Chellaney]( [Pinelopi Koujianou Goldberg]( and [Yi Fuxian]( predict whether India’s rising star will soon outshine China’s. Economics & Finance [China’s Pro-Growth Happy Talk]( [Minxin Pei]( doubts that the government will do what it takes to engineer the robust economic recovery it has been touting. Politics & World Affairs [The Sino-American Tech Trap]( [Stephen S. Roach]( warns that relying on export restrictions without boosting R&D spending is a losing formula for the US. [PS Say More: Shashi Tharoor on India-Russia relations, the Quad, Ambedkar, and more]( [Shashi Tharoor on India-Russia relations, the Quad, Ambedkar, and more]( [Shashi Tharoor]( assesses Indian perceptions of the Ukraine War, criticizes India’s continued wariness of security pacts, and more. Politics & World Affairs [Who Is Part of the Free World?]( [Anne-Marie Slaughter]( urges US President Joe Biden to abandon a phrase that is better left in the twentieth century. Economics & Finance [The Poverty of Anti-Capitalism]( [Harold James]( considers recent arguments against markets, globalization, and growth, finding them to be deeply flawed. [PS. Sign up to our On Point newsletter for the latest subscriber-exclusive content.]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](