Thank you, Donald Trump! US commercial banks made a record profit in the first quarter of 2018, which the Federal Deposit Insurance Corporation credited to…
REALLY?
Central bank economists say forecasting exchange rates is simple enough to do “on the back of a napkin”
Economists come under fire when things go wrong, and the main line of attack comes from forecasts gone awry. Forecasting is an integral part of…
CRISIS LEVEL
One in five Americans know someone who has been addicted to opioids
The US is facing an opioid crisis that is like no other country in the world. In 2016, 64,000 people died of an overdose, primarily…
CURRENCY CLASH
A stronger dollar is making 2018 a destructive year for emerging-market currencies
Last year, the US dollar experienced its worst year in more than a decade. But after stumbling through the start of this year, the greenback…
SIX MORE YEARS
Venezuela’s record-low voter turnout is the latest chapter in the death of its democracy
To no one’s surprise, incumbent Nicolás Maduro won Venezuela’s presidential election yesterday. This gives him another six years in power, amid devastating hyperinflation, food and…
MAGIC MATHS
Italy’s new populist government plans to give out free money—and tax cuts
It’s been two and a half months since Italy’s election when anti-establishment parties won 55% of the vote, but the country is still without a…
DON'T PANIC
Americans have amassed a record $13.2 trillion in debt, but economists aren’t that worried about it
US household debt has set yet another record high. In the first quarter of 2018, it reached $13.2 trillion, a $63 billion increase from the…
GOOD WHILE IT LASTED
Japan’s longest run of economic growth in nearly 30 years is over
These days, the good times for Japan’s economy never seem to last very long. After eight consecutive quarters of positive economic growth, the longest such…
GREEK TRAGEDY
The economic gut punch to Europe of ending the Iran deal, charted
When international sanctions against Iran were lifted at the start of 2016, Europe was fast to revive economic relations with the country. This blossoming of…
JUST A BLIP?
That was quick: Europe’s growth spurt has already stalled out
Last year, the euro zone was the world’s unexpected economic success story. The region experienced its strongest year of growth in a decade as trade…
WRONG TURN
How Argentina went from selling 100-year bonds to an IMF rescue in a matter of months
In financial markets, memories can be short. Last year, Argentina sold 100-year bonds, joining a select club of countries with the confidence to borrow for…
BAD BANK
It’s taken six years and $27 billion for RBS to pay for its crisis-era sins
A heavy weight has finally been lifted off the shoulders of Royal Bank of Scotland CEO Ross McEwan. The British bank said today that it…
