Its response to Brexit and the pandemic, where it is now threatening emergency powers in order to secure vaccines is a latest throw of the political dice. Even before this development markets were getting the message with capital flight worsening. The only thing that holds the Commission together is the […]

Ever since the early stages of the US-China trade/tech/virus/cold war four years ago, there were frequent rumors — which eventually gave way to increasingly legitimate chatter — that China was looking to go full “nuclear option” by selling some or all of its $1+ trillion of US Treasury securities, which incidentally has not been […]

Submitted by Joseph Carson, former chief economist at AllianceBernstein At this week’s Fed’s annual Jackson Hole conference Federal Reserve Chairman Jerome Powell is expected to announce a new policy approach that is intended to give policymakers more flexibility and time to achieve their inflation mandate. The irony is the proposed […]

“Late last year, data released by the PBOC and the Russian Central Bank shone a light on a disturbing — at least, for the US — trend: As the Trump Administration ratcheted up sanctions pressure on Russia and China, both countries and their central banks have substantially “diversified” their foreign-currency reserves, dumping dollars and […]