Plunging stocks have triggered rarely used ‘circuit breakers’ that temporarily halt trading. A finance scholar explains what they are and the costs of shutting down markets.
How many people realise that the central banks’ great programme for reviving the global economy involves hand-picking which companies and sectors to help out?
Paul Volcker was a courageous central banker.
AP Photo/J. Scott Applewhite
Volcker’s legacy involves more than fighting inflation – he showed why central banks need to remain free of meddling from politicians, including the president.
This is what a financial crisis looks like on Wall Street.
AP Photo/Richard Drew
The US hit the debt ceiling in March and is expected to run out of ways to get around the new $22 trillion limit by September. An economist explains why the ceiling is a dysfunctional relic.
Historically those nominated to the US Federal Reserve board have had distinguished credentials. Donald Trump favours nominees that agree with him.
US Federal Reserve
President Trump has discussed firing Fed Chair Jerome Powell over the central bank’s interest rate policies. Research shows this kind of political meddling is usually bad for the economy.
Fed Chair Powell signaled he’s ready to cut rates if necessary.
Reuters/Kevin Lamarque
The Fed is in a tricky position as it signals it may soon cut interest rates to boost the economy, which also risks spurring runaway inflation and even an economic downturn.
Sluggish jobs growth may compel Federal Reserve Board Chair Powell to take action.
Reuters/Yuri Gripas
President Trump has been attacking the Federal Reserve for months and appears intent on nominating political allies to its board. An economist explain what typically happens next.
Federal Reserve Chairman Jerome Powell speaks at a news conference.
AP Photo/Alex Brandon