Global financial system

Globalization may be changing the fundamentals of economics

A globe in front of stock market listings
Photo: Biddiboo/Getty Images

Globalization has played an increasingly large role in determining the rate of inflation over the last decade, asserts a new Brookings paper from MIT global economics professor Kristen J. Forbes.

Why it matters: With inflation more "determined abroad" than ever and outside the control or purview of central banks, it may be time for a major overhaul in the way they operate.

Global economic concerns are impacting the leveraged loans market

Crumbling globe in the shape of a piggy bank
Illustration: Sarah Grillo/Axios

Global economic concerns eating into the leveraged loans market, thus making it more difficult for private equity to close deals.

Why it matters: Five U.S. leveraged loan offerings have been pulled so far this month. Summer vacations could be to blame, but this summer is the exception. Instead, the last such slowdown came at year-end 2018, mirroring broader economic worries.