Economists generally agree on few economic theories, but the negative impact of tariffs is one of them. The theory advocating for free trade without tariffs or barriers between countries was first articulated by Adam Smith in 1776 in “The Wealth of Nations,” showing that even if a country has an absolute advantage in producing goods, …
A tale of two interest rate decisions
The US Federal Reserve or Fed, and the UK Central Bank or the Monetary Policy Committee (MPC,) both made the decision on whether to cut interest rates on the same day, although, given the time difference, it happened at different points. The US Fed cut interest rates by ½% to a range of 4.75% to …
An historic election win but big challenges loom
Even with one of the largest parliamentary majorities in its history and the Conservatives with their lowest-ever vote share, the incoming Labour administration faces a daunting task: improving UK economic growth. It knows that was why it was elected; after all, growing the economy through increased productivity was the focus of its election campaign. It …
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