The economic and financial world this week mourned the passing of Alan Greenspan, perhaps the most consequential voice on markets in the late 20th and early 21st centuries, at the age of 100. Though soft-spoken in public, his words could move markets halfway around the globe — never more so than in 1996, when a single phrase he uttered triggered a selloff that rippled across continents.
New Federal Reserve Chair Kevin Warsh on Wednesday acknowledged that inflation, while still elevated, is posing less risk than before—but he doubled down on the central bank's commitment to independence and price stability, pushing back against White House pressure for rate cuts.
European Central Bank board member Isabel Schnabel said on Monday that the growing use of stablecoins, most of which are pegged to the U.S. dollar, risks reinforcing the dollar's global hegemony, undermining monetary policy autonomy for some nations, and potentially sidelining the euro. Analysts warn that a rapid expansion in dollar-pegged stablecoin issuance could reverse the decades-long decline in the dollar's share of global reserves.
A decade after the UK voted to leave the European Union, data shows the decision has cut GDP by 6% to 8%, reduced investment and employment, and offers a cautionary tale for other nations flirting with trade isolation.
A broad selloff in global semiconductor stocks accelerated Friday after Broadcom's earnings miss reignited concerns about AI chip spending and a stronger-than-expected U.S. jobs report crushed hopes for near-term rate cuts.
Shares of Vital Farms (NASDAQ:VITL) climbed 5.9% in afternoon trading, riding a wave of positive sentiment across consumer staples after General Mills reported stronger-than-expected quarterly results. The stock later settled at $12.19, up 4.8% from the prior close.
