The Supreme Court, exhibiting skepticism about the legality of Trump’s tariffs, showed that even they understand that the tariffs 1) are a tax and that they 2) are a tax on Americans.
A strong September drove official third-quarter central bank gold purchases to a net 220 tonnes. That was up 28 percent from Q2 and 6 percent above the five-year third-quarter average.
What might once have been described as economic assistance now serves as an instrument of policy signalling, a reminder that confidence in the dollar still requires demonstration.
While Powell & Company would never admit it, the central bank has no choice but to end balance sheet reduction due to the federal government’s borrowing and spending problem.
