The Dangerous Dollar
The Economist reports that holders of American assets must get used to a weaker and more volatile currency.
Over the past year President Donald Trump has bullied America’s allies with tariffs, bludgeoned the Federal Reserve and treated the budget deficit as if it were just a distraction. Yet most asset markets blithely carry on as if nothing were wrong. In the past 12 months the S&P 500 index of stocks has risen by 14% as investors have piled... ...
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