There are many elections in 2024, from Taiwan in January to the US presidential election in November. As many as 40 national elections are in 2024. In total, 41 per cent of the world’s population and 42 per cent of GDP will vote. Given the geopolitical dynamics of recent years…

By originally labelling inflation as a temporary phenomenon, central bankers were too late in combating it. That was compensated with rapid, sharp interest rate hikes, which the economy will only feel in full next year. Part of that late intervention is that central bankers today do not dare to look…

The moment the US federal government runs a budget deficit, money has to be borrowed, usually in the form of government bonds (Treasuries). Before the year 1917, every new state loan had to be approved by the US Congress. This allowed the elected representatives of the people to keep a…

Central banks in Europe and the United States are probably done in terms of raising interest rates. Over the past 18 months, policy rates have been raised at a rapid pace, but the full effect of those rate hikes normally follows with a 12- to 18-month lag. This time, it…

After the dollar rose to 150 yen on 3 October, the same dollar suddenly fell 3 yen on 4 October. This raised suspicions of intervention by the Japanese government. This was not confirmed by finance minister Shunichi Suzuki. Japan did intervene in currency markets regularly in the past, but usually…

The Hamas terrorist attack launched more than a week ago appears to be aimed mainly at frustrating the normalisation of the State of Israel’s relations with its Arab neighbours. Indeed, Morocco, Bahrain and the United Arab Emirates signed peace agreements with Israel in recent years. A similar agreement with Saudi…

Asking the question “What do you think of the dollar?” is relatively straightforward. The answer, however, is not. One answer that is always correct is that the dollar is likely to remain the US currency for years to come, but this is probably not the answer to the question. …

Late last year, many economists were counting on a recession in 2023, but it is now clear that the chances of such a recession this year are not so high. Europe is not having an easy time of it and there are plenty of countries with two quarters of contraction…

Jackson Hole is an American winter resort in the state of Wyoming. In summer, it is usually very quiet in such ski resorts, but for visitors to Yellowstone National Park, it is on the route. Moreover, the valley near Jackson Hole offers good views of the Grand Tetons. On that…