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CFR State and Local Officials Bulletin May 2016

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May 2016

State and Local Officials Bulletin

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Quarterly Update

LARRY DOWNING/REUTERS

LARRY DOWNING/REUTERS

This edition of the State and Local Officials Quarterly Bulletin turns its attention to U.S. national security and the global economy, exploring a range of issues facing the United States today and policy prescriptions for addressing them. Featured resources include a conversation with the U.S. service chiefs on national security, CFR's newly released Global Monetary Policy Tracker, and an exploration of Puerto Rico's debt crisis.

 

In the run up to the Democratic and Republican conventions, compare candidates' positions on pressing foreign policy challenges using CFR's interactive hub, Campaign 2016: The Candidates and the World.

 

U.S. NATIONAL SECURITY

Challenges Facing the U.S. Military
 

The U.S. service chiefs discuss strategies to defeat the self-proclaimed Islamic State, growing cyber threats, and the changing role of U.S. involvement in NATO, in this new CFR Event video. Watch the video »

 
U.S. Cybersecurity Policy
 

The "Cyber Act of War Act," a new Congressional bill introduced by Senator Mike Rounds (R-SD), calls for a clear and concise definition of a cyber act of war. CFR's David Fidler holds that the bill will neither produce a critical definition nor advance current policy in this new Net Politics blog post. Read the blog post »

 
The North Korean Threat
 
DAMIR SAGOLJ/REUTERS  

DAMIR SAGOLJ/REUTERS

 

The next U.S. administration is likely to regard the North Korean threat as a more urgent priority given the possibility that the country will develop a long-range nuclear strike capability within the next four years, says CFR's Scott A. SnyderRead more »

 

GLOBAL MONETARY POLICY

Global Monetary Policy Tracker
 
CFR  

CFR

 

As the U.S. Federal Reserve considers further interest rate hikes and the European Central Bank and Bank of Japan mull over additional stimuli, track the easing and tightening of monetary policy around the globe with CFR’s new interactive toolExplore the tracker »

 
The U.S. Federal Reserve
 

Over the past decade, the Fed’s total assets have surged to the trillions of dollars as its role in setting economic policy has dramatically expanded. CFR's Backgrounder explores the changing mandates of the central banking system and the bouts of quantitative easing following the 2008 financial crisis. View the Backgrounder »

 
Report Card: Managing the Global Economic System
 

The latest Council of Councils Report Card on International Cooperation gives multilateral management of the global economic system a B minus. The report cites continued U.S. economic growth and modest recovery from other advanced economies, such as the Eurozone and Japan, as signs of improvement over the previous year. View the Council of Councils Report Card »

 

PUERTO RICO DEBT CRISIS

The Causes of Puerto Rico's Debt Crisis
 

Puerto Rico Clearinghouse's Cate Long, former Lieutenant Governor of New York State Richard Ravitch, and CFR's Brad W. Setser join the Wall Street Journal's Aaron Kuriloff to discuss the factors that led to Puerto Rico’s crisis, the options for restructuring its more than $70 billion debt, and solutions for improving the island’s economy. Watch the video »

 
Can Puerto Rico Escape Its Debt Crisis?
 
ALVIN BAEZ/REUTERS  

ALVIN BAEZ/REUTERS

 

Without action from Congress, Puerto Rico's debt crisis could cripple the island's government and threaten the provision of basic services, says CFR Fellow Brad Setser. Read more »

 
Athens on the Caribbean
 

Instead of asking for lean budgets or other measures that put off the inevitable day of reckoning, Washington could link short-term financial support to a long-term effort to develop a new growth strategy for the island, one that is controlled and directed within Puerto Rico, argue Deepak Lamba-Nieves and Andrew Schrank in this Foreign Affairs article.  Read the article »

 

ABOUT CFR

The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher dedicated to being a resource for its members, government officials, business executives, journalists, educators and students, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing the United States and other countries. Founded in 1921, CFR takes no institutional positions on matters of policy.

 

ABOUT CFR'S STATE AND LOCAL OFFICIALS INITIATIVE

The CFR State and Local Officials Initiative seeks to serve as a resource and forum for bipartisan discussion on pressing international issues that affect the priorities and agendas of state and local governments, including the economy, trade and competitiveness, homeland security, public health, immigration, and energy supply and climate policy. For more information, please contact McCourt, associate director for the National Program & Outreach, at 212.434.9848 or outreach@cfr.org.

 

ABOUT THE STATE AND LOCAL OFFICIALS PORTAL ON CFR.?ORG

CFR's State and Local Officials Portal, www.cfr.org/stateandlocal, is a resource and forum for discussion on international issues of local importance. This webpage serves as a guide to CFR's best materials on the topics that matter most to state and local officials and their constituents. In addition to a wide range of CFR materials—including work from the think tank, interviews with experts, meeting transcripts, and new backgrounders—users will find analysis and documents from other sources that have been carefully selected by the website's editorial staff for their relevance and quality.