I n 1971 John Connally, then the American treasury secretary, told his European counterparts that the dollar was “our currency, but your problem”. Over the following half-century the global economy has transformed, but Connally’s adage still rings true: even though the value of the dollar remains largely set by domestic developments in America, its swings

T he West’s economic weapons are missing their target. Last month Russia exported near-record volumes of oil, at a decent price. But there is one exception. After shutting its main gas pipeline to Europe in 2022, Russia had hoped that Arctic LNG 2, an ultra-modern export facility, would open big new markets. Yet last month

T wo private-equity bros walk into a Nobu. One thinks ordinary people investing in private markets is a swell idea. Stockmarkets are so concentrated that buying the S&P 500 index is just a bet on a handful of giant technology firms, he says. Everyone needs diversification. Private credit is here to stay and the bond

Nov 7th 2024 | Washington, DC T HE RISE of political polling and subsequent crackdowns on sports gambling drove political betting markets in America underground after the second world war. They remained in the shadows until last month, when a federal court cleared Kalshi, a betting exchange, to offer political bets to Americans. More than

Nov 7th 2024 | Mumbai I t is the largest-ever experiment in participatory capitalism. As India’s stockmarket has surged, households have scrambled to stake a claim in its success. With barriers to entry falling, roughly 100m people not far above the poverty line have become capitalists, owning tiny stakes in publicly traded companies. One in

Nov 7th 2024 W HEN CHINA entered the Korean war in 1950, America was keen to take the measure of its new adversary. The government asked William Hollister to estimate the size of its GDP, relative to America’s own. Economists are often accused of giving two answers to any question. Hollister gave three. Explore more

Nov 3rd 2024 P olitical risk—the notion that an election might have a meaningful impact on financial markets—used to be something that was the concern of emerging-market investors. Those in rich countries paid attention to central bankers, rather than politicians. Things are a little different today. In the run-up to America’s presidential election on November

Nov 6th 2024 | WASHINGTON, DC Explore more The US elections of 2024 Donald Trump United States Reuse this content

New data before next Fed decision New U.S. economy data before next Fed interest rate decision 03:36 The Federal Reserve on Thursday is expected to cut interest rates for the second time this year, with the decision coming less than two months after its surprise jumbo cut in September.  The Fed is expected to shave

First poll closing times approach Latest news as Election Day 2024 as some poll closing times approach 15:04 Donald Trump's Trump Media & Technology Group had an eventful Election Day 2024 , with its DJT stock halted three times after the shares suddenly plunged. At the end of the trading day, the Truth Social owner