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The FOMC held rates at 4.25 - 4.5% as expected. Governors Waller and Bowman dissent in favor of a 25-bps cut. That's the first time since 1993 that two Governors dissented from the policy decision. The Fed lowered its growth outlook, saying that “growth of economic

The Trump tariff "step-downs" may have taken the edge off of the worst-case trade war scenarios. Between the Treasury Bessent floating interventionist tools (including the "not-so-subtle nod to buybacks) and Waller softening up the Federal Reserve tone, there's a clear effort to engineer a sentiment

For much of the 20th and 21st centuries, the United States has enjoyed a unique position of financial dominance over the rest of the world. This is what's called "U.S. exceptionalism," implied by the phrase itself, but not only superior economic performance, but also structural