The Fed Is Fighting Inflation It Cannot Fully Control
The Federal Reserve has an inflation problem again, but it is not quite the same one it faced in 2022. US consumer prices rose 0.6%...
Tag: energy crisis
The ECB Is Tightening Into a Fiscal Problem
The European Central Bank still has an inflation problem. It now also has a bond-market problem. Euro-area inflation is approaching 4%, well above the ECB’s...
Washington and Tehran Are Now Negotiating With the Clock
The US-Iran war has acquired another battlefield. The calendar. After seven months of conflict, talks in New York have produced little progress. Iran has offered...
Europe’s Energy Crisis Is Becoming a Sovereign-Debt Crisis
Europe is entering winter with an energy problem. It may leave it with a fiscal one. The renewed fighting between the United States and Iran...
Hormuz: The Illusion of Control
Donald Trump has declared that the United States has “total control” over the Strait of Hormuz. “It belongs to us,” he said, adding that Iran...
The World Is Running Out of Safe Energy Routes
The latest developments in the Middle East make one thing increasingly clear: the energy shock is no longer only about oil prices. It is about...
The ECB Is Fighting the Wrong Kind of Inflation
The European Central Bank has reached an uncomfortable point in the cycle. Inflation is no longer being driven primarily by excessive domestic demand, labour-market overheating...
The New Middle East
The latest twist in Washington’s strategy towards Iran perfectly illustrates the strategic confusion that now surrounds the Middle East. Only twenty-four hours after announcing a...
A War Without Peace
The ceasefire is over. The negotiations continue. This contradiction now defines the relationship between the United States and Iran. Over the weekend, both sides exchanged...