Trump unleashes fossil fuel production at home, and crushes it in Iran and Venezuela.
Donald L. Luskin
On the March FOMC: Dots in the Headlights
Wednesday, March 19, 2025
The Powell Put is in place – and with the end of QT, it’s already being deployed.
Uncertainty Has Become a Cliché
Monday, March 17, 2025
After a 10.5% correction in stocks, it’s hard to profit further from an in-consensus idea.
On the February Jobs Report and the DOGE Effect
Friday, March 7, 2025
We’re starting to see a DOGE effect. The test is whether these people can find other work.
Tariffs are Taxes. This is a Tax Hike.
Tuesday, March 4, 2025
There’s already incipient weakness this quarter, and inflation risk. This is not good.
The Other Trump Effect: Uncertainty
Tuesday, February 25, 2025
Less than a week after all-time highs for stocks, uncertainty is starting to take a toll.
Tariff the World. Save the World.
Friday, February 14, 2025
Trump’s “big one” is a game-theoretic optimum in the prisoner’s dilemma of trade.
There You Go Again: Steel and Aluminum Tariffs
Monday, February 10, 2025
The 2018-2019 tariffs began with steel and aluminum, and prices ended up lower.
On the January Jobs Report (and Tariffs)
Friday, February 7, 2025
Revisions, benchmarkings, adjustments (and weather). This miss is a strong jobs report.
They Called His Bluff on Tariffs
Sunday, February 2, 2025
They still may not happen. But if they do, it’s a $256 billion tax hike someone will pay.