Don’t Look to the Fed for the Answer to Stagflation

Published on March 21, 2025

The Federal Reserve’s decision to leave interest rates unchanged was right — but easy to misinterpret.

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What Spooked the S&P 500? It Wasn’t the Trade War

March 21, 2025
The US stock market is on edge. The S&P 500’s recent 10% correction has investors worried, though a highly uncertain policy environment and an unusually top-heavy market obscure just what is spooking stocks.

Austerity? US Economic Policy Is All About Growth

March 21, 2025
Despite the talk of austerity — and amid the possibility of a global trade war, the reality of a stock-market correction and fears of a US recession — there is still a chance that President Donald Trump’s agenda could increase economic growth. As usual, it will depend on the execution.