Americas: What to name the now?

Author: | Published: 22 Feb 2016
Japan and the EU’s central banks’ monetary policy in action?

If the Great Moderation has long gone, and the Great Recession is (kind of) over, exactly what era are we living in now?

Counsel and industry in the Americas might like to mull that over. After 2008, nothing went back to normal. Maybe that's to be expected after so long a downturn. But the formerly reassuring worlds of central banking, financial regulation and commerce have, too, all become increasingly bizarre.

There are three broad oddities to ponder.

First is economic policy. After 2008, monetary and fiscal policy went...