Investor expectations of a new round of tariffs have caused the U.S. dollar to mildly appreciate in recent months. Now, with steep tariffs on goods from Canada, Mexico and China set to begin Tuesday, one should expect the greenback to go even higher against major trading currencies. Such a move will ... READ MORE >
Morning market minute
Morning market minute: Managing the dollar’s risk, volatility and tariffs
With the Trump administration’s changes in trade and financial policies looming, the U.S. dollar is sensitive to headline risks and will be subject to volatility in the coming months. And that volatility injects an uncertainty tax that distorts the efficient functioning of financial markets and the ... READ MORE >
Morning market minute: Regime change and financial conditions
Regime change continues to be the foundation of our analytical framework for the post-pandemic economy. Secular stagnation that for years featured low inflation, low interest rates and plentiful capital has been replaced by competition for capital, higher inflation and higher interest rates. During ... READ MORE >