Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg
Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Christmas ups and downs on Wall Street: goodbye to the era of cheap money, hello to volatility?

  • Nicholas Spiro says US political risk is driving markets to such a degree that hopeful news about the Chinese economy failed to set off a rally. The danger is that the selling pressure might start to undermine confidence in the US economy

Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg
Jerome Powell appears at a news conference at the White House in November 2017 after President Donald Trump nominated him to lead the Federal Reserve. A toxic combination of concerns about the impact of Trump’s trade offensive against China and fears of a hawkish policy mistake by the Fed have turned America into the main source of turmoil in markets. Photo: Bloomberg
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.