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TACO Comes In Different Forms
The past week offered a masterclass in policy whiplash — and a reminder that in today’s macro environment, the most important economic indicator may not be inflation, growth, or employment, but the US President’s tolerance for market pain. Much of the turbulence began with the administration’s increasingly theatrical standoff with Europe over Greenland. As President Trump arrived in Davos for the World Economic Forum — the annual gathering where the global élite discusses cooperation over canapés — markets braced for the possibility that rhetoric would harden into action. The fear was not merely ... (full story)
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