Robert Kahn

Macro and Markets

Robert Kahn analyzes economic policies for an integrated world.

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The President’s Economic Agenda: the Fight Begins

by Robert Kahn

President Trump’s address to a joint session of Congress last night highlighted the central economic themes that animated his campaign: a tougher policy on immigration and trade, a focus on infrastructure, broad deregulation, “massive” tax relief and the repeal and replacement of Obamacare. The unifying theme was economic nationalism and renewal.

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The President’s (Economic) Inbox

by Robert Kahn

The election of Donald Trump creates extraordinary uncertainty about the future course of U.S. economic policy. Markets don’t like extreme unknowns, and there are valid reasons to fear that Trump’s policy proposals on trade and our economic alliances would be seriously disruptive to the global economy. Global stocks fell sharply when signs of a Trump victory emerged Tuesday, but by mid afternoon Wednesday U.S. stocks were up as markets found their footing on hopes of fiscal stimulus.  Meanwhile, U.S. Treasury yields were up and the Mexican peso weakened. It is reasonable to expect that substantial market volatility will be the norm in coming weeks.

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