Politico reports that the new White House chief of staff plans to restrict the flow of information to President Trump including news media reports in the hope of keeping the boss on a more even keel.

The US and China have built stronger relationships and established constructive channels of communication that didn t previously exist. These innovations have helped keep the US China economic relationship on an even keel, even in times of tension.

More important, governments have abandoned the goal of full employment as a result, all of those bits of interventionist policy previously thought necessary to keep economic activity on an even keel have gone by the wayside as well. The New Economics may be temporarily resurrected to deal with extreme situations, but policymakers no longer take precautions to prevent extreme situations from arising.

But improved surveillance is essential to ensure that the global economy remains on an even keel. By clarifying what surveillance entails, the new decision should help the IMF and its members see eye to eye on the Fund s role, help those involved in surveillance do their job properly, and make the Fund more accountable for delivering on this key responsibility.