America’s Inflation Illusion Is Dying in an Oil Fire
For months, markets desperately tried to believe that inflation in the United States was under control. That illusion is now collapsing. US wholesale inflation surged...
Tag: FED
Japan’s Bond Market Starts Cracking and the Dollar System May Be Next
For years, global finance functioned around a dangerous but convenient illusion: Japan would finance everybody forever. The country remained the ultimate source of global liquidity....
A Divided Fed in a Fragmenting World
The Federal Reserve has chosen to do nothing. And in doing so, it has revealed everything. Rates were left unchanged, comfortably anchored in the 3.5%–3.75%...
The FED Becomes a Political Battlefield
The Federal Reserve was already trapped between inflation, oil shocks and a slowing economy. It now faces something more corrosive: political occupation by procedural means....
The Day the Market Stops Believing
There are warnings that belong to the realm of theory, and others that carry the quiet weight of experience. When Henry Paulson speaks about a...
The Fed’s New Fear: Inflation Has Not Finished Its Work
At first glance, the Federal Reserve still looks suspended in familiar ambiguity: waiting, watching, refusing to move too quickly. But the minutes of its March...
Held Rates, Rising Risks
The bond market has stopped dreaming of rescue. A few weeks ago, investors were still clinging to the idea that the Federal Reserve would ride...
The Quiet War Behind the War: the Chinese strategy
There is the conflict everyone sees — missiles, oil, ships stalled in narrow waters. And then there is the other one, slower, colder, infinitely more...
The Illusion of Control: Bond Markets in the Age of War
There are moments when markets reveal more than they intend. Not through clarity, but through panic. Three weeks into the war with Iran, global bond...