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.

Global central banks this month have offered something for everyone from further interest rates hikes in Japan to rate cuts in Canada and Europe, while the Federal Reserve remained motionless.

The dollar’s role in the global economy is evolving, and its “exorbitant privilege” looks to be as well. We examine the greenback’s role as the reserve currency and the implications of the world’s changing currency appetites.