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Research Staff


Areas of Expertise

  • International Finance
  • Monetary Policy
  • Trade Deficit

Joseph E. Gagnon

US Fed raises interest rates for first time since 2006.
December 16, 2015
Joseph E. Gagnon speaks with the BBC about the Fed's decision to raise interest rates [1:50 mark].

Stocks Dive as Interest Rates Remain Steady
September 18, 2015

New York Times
Raising Rates Too Soon: The Mistake Central Banks Keep Making
September 15, 2015

Greece Definitely Needs Debt Relief
Video | July 15, 2015
Joseph E. Gagnon comments on the International Monetary Fund's calls for debt relief for Greece.

NPR's Planet Money
Why Inflation Is So Low
Audio with transcript | May 15, 2014
Joseph E. Gagnon discusses why inflation in the United States has stayed so low despite the US Federal Reserve adding trillions of dollars into circulation.

Fox Business
Tug of War Between Markets and the Fed in 2014?
Video | December 30, 2013
Joseph E. Gagnon discusses how the US economy will respond to the Federal Reserve tapering its stimulus program in 2014.

Wall Street Journal
Fed Moves Toward New Tool for Setting Rates [subscription required]
Article | December 11, 2013
The Wall Street Journal discusses an experimental Federal Reserve bond-trading program that Joseph E. Gagnon and Brian Sack are proposing in a forthcoming research paper.

NHK World
Insights into the Fed
Video | September 17, 2013
Joseph E. Gagnon discusses the upcoming Federal Open Market Committee meeting and how the option of tapering quantitative easing is impacting emerging market economies.

NPR's All Things Considered
Weakening Yen Strengthens Toyota's Profits
Audio with transcript | August 2, 2013
Joseph E. Gagnon explains how the yen's decline in value has boosted Toyota's profit margins.

Dow Jones
Former Fed Economist: FX Has Bigger Trade Impact Than Thought
Dow Jones highlights Joseph E. Gagnon's newest working paper, [pdf] which explains that currency intervention has an impact on other economies several times larger than originally thought.

Bernanke to Start Congressional Testimony
Video | February 26, 2013
Joseph E. Gagnon defends the Federal Reserve's quantitative easing (QE) efforts, noting that without QE2 and QE3 economic recovery in the United States would be even weaker, and prospects for growth would be worse.

Bloomberg TV
Peterson Institute's Gagnon on Sandy, Fed, Economy
Video | October 31, 2012
Joseph E. Gagnon does not expect Hurricane Sandy to have much impact on Federal Reserve policy or the US economy. Gagnon also responds to the Minneapolis Federal Reserve president's statement that monetary policy is currently "too tight."

Bloomberg TV
Gagnon, Litan Analyze Mitt Romney's Tax Plan
Video | October 16, 2012
Joseph E. Gagnon and Robert Litan, director of research for Bloomberg Government, evaluate Mitt Romney's tax plan and whether tax cuts truly pay for themselves.

NPR's On Point
A Global Recession?
Audio with transcript | October 10, 2012
Following the International Monetary Fund's warning that the risk of a new global slowdown is alarmingly high, Joseph E. Gagnon and Simon Johnson join On Point host Tom Ashbrook to discuss ways to avoid a new global recession.

Fox Business
Is QE3 What the Economy Needs?
Video | August 22, 2012
Joseph E. Gagnon argues that the US Federal Reserve should do a third round of quantitative easing (QE), while Jerry Webman of OppenheimerFunds argues the Fed should not take action. See also: Is That All There Is? The Remarkably Small Costs of Quantitative Easing

C-SPAN | Washington Journal
Federal Reserve Report on American Wealth
Video with transcript | June 15, 2012
Joseph E. Gagnon discusses the recent Federal Reserve report that found the median net worth for US households declined 39 percent between 2007 and 2010.

NPR | Morning Edition
Despite Low Rates, Investors Rely on Treasuries
Audio | June 8, 2012
Joseph E. Gagnon joins NPR's Jim Zarroli to discuss why cash-rich corporations have become risk-averse investors, opting for the security of Treasury bills and bonds despite the low interest rates.

The Roosevelt Institute
What Constrains the Federal Reserve?
Interview | June 4, 2012
Joseph E. Gagnon explains the tools the Federal Reserve has to bring about a stronger economic recovery, and the constraints it faces in trying to do so.

Reuters Insider
Fed Should Purchase $2 Trillion in MBS, Says Peterson Economist
Video | October 28, 2011
Reuters interviews Joseph E. Gagnon about his proposal that the US Federal Reserve purchase $2 trillion in mortgage-backed securities and notes that his idea is garnering widespread interest and support.

New York Times
Hope For HARP
Review | October 24, 2011
Paul Krugman writes that Joseph E. Gagnon's take on HARP (Home Affordable Refinance Program) "really needs looking at."

Washington Post
What the Fed Should Do
August 9, 2011
The Washington Post's Ezra Klein follows up with Joseph E. Gagnon on his call to action to the Obama Administration and the Federal Reserve in his recent RealTime post "Stop Sticking Our Heads in the Sand! A Plan for Action on Jobs."

What a Credit Ratings Cut Could Mean for the United States
Audio with transcript | July 26, 2011
Joseph E. Gagnon tells NPR that the credit rating agencies are often behind the curve, and so a downgrade in the US credit ratings may be a nonevent. What matters more is how the United States arrives at a downgrade. Gagnon is author of The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy.

New York Times
U.S. Has Binged. Soon It'll Be Time to Pay the Tab
Review | May 28, 2011
The New York Times calls Joseph E. Gagnon's new book, The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy, "straight talk on a vital topic."

C-SPAN Washington Journal
Debt Ceiling
Video with transcript | May 16, 2011
Joseph E. Gagnon and Veronique de Rugy, George Mason University, talked about the nation's $14.3 trillion debt ceiling, which has now been reached. The hour-long program, with call-in questions, covered the fiscal and economic implications of reaching the debt ceiling; how this situation could affect the finances of the American public; how other countries deal with their debt and debt limits; and how this situation could affect US economic standing in the world.

Roosevelt Institute
Joe Stiglitz and Joe Gagnon Debate QEII
Video | April 27, 2011
Joseph E. Gagnon debates Joseph Stiglitz on quantitative easing II at the conference "The Future of the Fed" held at the Roosevelt Institute. Gagnon also presented at a panel at the conference on the current state of the US Federal Reserve.

Fox News
What Is the Nations Debt Ceiling?
Video | April 20, 2011
Joseph E. Gagnon explains what the debt ceiling is and how it impacts the economy.

Wall Street Journal
Experts Shine Light on World’s Currencies
Video | February 23, 2011
The Wall Street Journal's David Wessel interviews Edwin M. Truman, Joseph E. Gagnon, and Eswar Prasad about the major issues facing currencies and the global economy in this video.

New York Times Economix
Bigger Trade Deficits Coming?
Commentary | January 15, 2011
David Leonhardt of the New York Times, discusses Joseph E. Gagnon's concerns about rising trade deficits as covered in his Working Paper, Current Account Imbalances Coming Back.