GLOBAL MACRO INSIGHTS

Fed Forecasts Drift as Trump’s Tariff Storm Clouds Rate Path

Federal Reserve officials are still, somewhat heroically, pencilling in two interest rate cuts in 2025. But their latest projections reveal an increasingly fragmented consensus as...

US Core Inflation Eases Again in May, but Tariff Risks Loom

Core inflation in the United States rose by less than expected for the fourth consecutive month in May, suggesting that firms have, for now, largely...

Trump’s Monetary’ Rocket Fuel’: A Lesson in Central Bank Arm-Twisting

President Donald Trump is back on his favourite economic hobbyhorse: bullying the Federal Reserve into doing his bidding. His latest social media salvo demanded a...

ECB’s Schnabel: Talk of Transatlantic Monetary Divergence? Don’t Get Too Excited

Those hoping for a lasting split between the monetary paths of the Federal Reserve and the European Central Bank may want to curb their enthusiasm....

Interest Rates, Trade Wars, and the Theatre of the Absurd

Managing the economic fallout of a global pandemic might one day be remembered as an easy job for the Federal Reserve, especially compared to navigating...

The Fed’s Fine Balancing Act: Between Trump’s Tariffs and Economic Chaos

Jerome Powell, Chair of the Federal Reserve, emerged from another two-day policy meeting in Washington this week sounding like a man politely trying to defuse...

The ECB’s Seventh Cut: A Masterclass in Tiptoeing Toward Trouble

In what is starting to resemble monetary déjà vu, the European Central Bank has just cut interest rates for the seventh time since last June....

Trump Takes Aim at “Too Late” Powell – Again – Stirring Fresh Doubts Over Fed Independence

President Donald Trump, never one to miss a well-timed jab, has once again set his sights on Federal Reserve Chair Jerome Powell, suggesting his departure...

Don’t Count on the Fed to Rescue The US economy

Trump’s full-frontal assault on free trade is nothing short of breathtaking—for its scope, its scale, and its wilful lack of nuance. The average tariff is...