The American economy is experiencing its darkest hour since the Great Depression of 1929. Moreover, riots have broken out in many cities following the death of George Floyd. The chances of Donald Trump being re-elected are diminishing every day.
The figures on the American economy may evoke memories of a very dark period, but we fortunately don’t have to be as concerned as newspaper headlines sometimes suggest.
Panic is a bad advisor in the financial world. Still, the US central bank has let itself be guided by its fears in its surprising decision to cut the interest rates. It looks like there are hard times ahead, particularly for the dollar.