For the European Union, the economic impact of U.S. tariffs will depend on their level and duration. We investigate the implications of rapidly changing U.S. trade policies, and explore how the EU may respond.

Economics is rife with self-correcting mechanisms, and we give our thoughts on how that dynamic is likely to play out in the relationship between the U.S. budget deficit and longer-term interest rates.

The U.S. equity market has taken investors on a bumpy roller coaster ride, leaving some of us queasy. We discuss what drove the rally, lingering risks, and the market’s potential from here.