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.
A depression? I think not.
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.
Fed panics: dollar bears the brunt
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.
Who will take it up against Trump?
In less than a week it will become clear who will really be cut out to fight Donald Trump for the American presidency later on this year. The outcome of that battle will have a major impact on the price movement of the dollar.
