Dilemma


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Adding the library version in the URL is very important to avoid regressions; if we were not using this versioned URL, a scenario like the following one might happen:. Two rules should always be kept in mind:. A library delivered via NPM is easier to install on a project that uses a module bundler such ash Webpack or Parcel : we use NPM for our internal libraries or those libraries that are used just as dependencies. To answer the initial question, the answer is NO; as usual, you should pick the right tool for the job: we love NPM and we use it where possible!

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The library architecture To reduce the performance costs of our libraries, we implemented them as a series of smaller and independent modules. We focus on just two points when deciding if and how to break up a library: Balance the number of modules and their weight; if the module is too heavy in our case higher than KB not gzipped , consider splitting it into smaller modules; Avoid overdoing the number of modules. Many modules of just a few KB can be a disadvantage rather than a benefit, because HTTP and network overhead will be greater than the loading time for small files.

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Retrieved 17 December There is a reason that the US Federal Reserve chair often has a haunted look. Probably to his deep and never-to-be-expressed frustration, the Fed is setting monetary policy in a way that increases the likelihood that President Donald Trump will be reelected next year.

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In Jackson Hole, Powell named the challenge to the global economic outlook, not personally US President Donald Trump , but operationally: heightened trade uncertainty, he said , presented a new drag on aggregate demand. That assessment led the Fed to hike the policy interest rate by a quarter point four times. That episode demonstrates the pitfalls of real-time policymaking.

One year later, the Bureau of Economic Analysis trimmed almost half a percentage point from GDP growth for , and the Bureau of Labor Statistics revised downward its estimate of monthly employment gains. Among the mechanisms by which an increase in interest rates slows aggregate demand is the foreign-exchange market. Of course, the transfer of domestic economic strength by an independent agency, the Fed, displeased the chief executive, and withering criticism ensued. Investment in long-term capital is always risky for a business.

When doubt about such an investment emerges before concrete is poured, less concrete will be poured.


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By early , the Fed viewed this new economic headwind as obviating the need to continue raising the federal funds rate. As the year unfolded and the trade winds intensified, Fed officials switched course and began to ease policy. Some economic mechanisms, however, are asymmetric. When the Fed tightens its policy, other central banks do not always follow, preferring to allow their currencies to depreciate.


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In contrast, when the Fed eases its policy, far fewer international partners are willing to let their currencies appreciate so that the dollar can depreciate. No one volunteers because everyone fears upward exchange-rate pressure. An earlier generation of central bankers would have relied on direct intervention in the currency market to pursue the same goal.

Instead, they achieve the same end by changing policy interest rates to deflect appreciation and welcome modest depreciation. As a consequence, when the Fed pivoted, all other major central banks followed. Draghi pushed the ECB in that direction in Sintra and followed through with further easing on September He is right, indirectly. And the consolation that by easing policy, the Fed single-handedly induced worldwide monetary accommodation does not get much credit from the White House. Trump would prefer that Powell were faster than his counterparts in the race to the interest-rate bottom.

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