The ECB boss is laying out a vision for how Europe can survive the fracturing of its relationship with its closest ally, writes Chelsey Dulaney, The Wall Street Journal.
The Federal Reserve’s reputation for independence is more illusion than fact. From its origins tied to the Treasury to its modern role in inflating asset bubbles, the Fed has long served political and financial interests — leaving Wall Street unfazed by Trump’s latest assault on its leadership.
The White House has steamrolled its way to higher tariffs with key partners Japan and the EU, whose further promises of American purchases and investments don't mean much. This is paving the way for US action on the dollar and financial bodies.
The United States is now in the unprecedented position of being the issuer of an unanchored global reserve currency. However reluctantly, the rest of the world is now in the unenviable position of being the user of the unanchored US dollar.
There’s a shortcut to figuring out whether a central bank has pushed too hard or not hard enough. All you need is a trendline.
In her first month as President of the ECB, Christine Lagarde is having to fight off a coup. Other European central bankers want her to give them a greater say in how monetary policy is set. There are three reasons why Lagarde needs to win.
The establishment believes banks are different and treats them differently. This is not a cyclical and temporary issue; it is structural and permanent. A universal reality confirmed by the recent travails of Deutsche Bank.
Nixon lives on. The bulge of credit, debt and danger has simply been shunted into the shadows of leveraged loans, junk bonds, emerging market debt and myriad other dim crevices.
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