Alliances Mean Victory
Isolationism is not a strategy; it is its abdication.
Isolationism is not a strategy; it is its abdication.
In Normandy, President Joe Biden laid out the coming clash between him and Trump over American democracy and the rule of law. He essentially pleaded with America to turn back to the future. But will what worked for Reagan four decades ago work for Biden as well?
Milton Friedman taught that monetary policy has long, variable lags, but Jerome Powell's Federal Reserve risks neglecting this lesson. The Fed's high interest rate policy, focusing on backward-looking data, could cause a hard economic landing and banking issues. Despite strong employment numbers, the Fed is unlikely to cut rates soon, fearing political backlash before the election.
Trump faces a big challenge in the entry of Robert F. Kennedy Jr. as an independent candidate, which could further impact the election dynamics.
In-depth analysis from Cliff Kupchan, Dominic Tierney, Robert David English, and more.