The Business Times

Mark Sobel

US CHAIR OF THE OFFICIAL MONETARY AND FINANCIAL INSTITUTIONS FORUM (OMFIF)

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THE BOTTOM LINE

Financial authorities should responsibly sell their gold stocks

The massive official diversification into gold is potentially built on a house of sand

US President Donald Trump is tearing apart the glue that holds the G7 together, and it now faces the question of whether it can even continue, or function properly, at least, over the next four years while he is in the top job.
THE BOTTOM LINE

The G7 is at a critical crossroads

Kananaskis summit will be a crucial test of cohesion and credibility

US Secretary of the Treasury Scott Bessent is known for his "3-3-3" plan, which has been dismissed across the board as wildly unrealistic.
THE BOTTOM LINE

Scott Bessent has an unenviable job

A tumultuous first month for the new Treasury Secretary

US President Donald Trump, alongside Secretary of Treasury Scott Bessent (L) and Secretary of Commerce nominee Howard Lutnick (R), signs an executive order to create a US sovereign wealth fund, in the Oval Office of the White House on February 3, 2025, in Washington, DC. (Photo by Jim WATSON / AFP)

US sovereign wealth fund debate: A solution in search of a problem?

Bold vision or misplaced ambition?

A "Make America Great Again" hat in front of the White House.

‘America first’ showcases Trump’s currency confusion 

Policy woes are made in the US, not abroad

FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
THE BROAD VIEW

Bitcoin is not the answer to US economic problems

This year could see the return of the anti-fiat money brigade

With the relationship between the US and China likely to get frostier under Donald Trump, there are questions over what strategy the Department of the Treasury will adopt regarding the East Asian giant.

Scott Bessent may rue the day he became US Treasury secretary

A poisoned chalice awaits him

The IMF offers various precautionary lending instruments, including its flexible credit line and a short-term liquidity line.
THE BOTTOM LINE

The Fed, the IMF and global ‘last resort’ lending

It’s messy, but it is here to stay

The Nasdaq stock exchange in New York on Aug 5. There was a massive global stock-market sell-off in reaction to the US unemployment report.

US fears of recession are exaggerated

Hyperventilating markets need to chill

Capital outflows are putting pressure on the renminbi. The renminbi’s weakness against the dollar constrains monetary policy accommodation, and China's authorities are wary of deploying large fiscal stimulus due to high leverage.
PERSPECTIVE

Tensions mount in foreign exchange markets as US dollar surges

The previously expected narrative for 2024 is crumbling

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