Gold has a long history of being held as a financial asset by private investors and central banks, which can be the source of large shifts in its price.
Interest Rates: Prices Hidden in Plain Sight
I study ways the shift in credit price disclosures from dollar terms to interest rates has impacted consumer and firm behavior. In an experiment, I find that co
The Quiet Rewiring of American Finance
Stablecoins, Treasury markets, and the most significant shift in financial infrastructure that almost nobody is discussing.
Live Updates: Warsh and Fed Officials Raise Interest Rates to Fight Inflation
The Federal Reserve raised interest rates for the first time since 2023, by a quarter of a percentage point, and suggested more increases could follow. The move puts its new leader, Kevin Warsh, at odds with President Trump.
The Smart Money Is on Bluesky - Bluesky
Since Bluesky launched, economists, investment strategists, and financial commentators have been building a finance community here, post by post. Now, it’s breaking out.
The Profit Paradox
With rising interest rates, something deeper than inflation is going on
Typically, bond rates rise when an economy is doing well and inflation appears to be moving up. But something much deeper and more structural is currently going on.
Commodity prices, the business cycle, and inflation: International evidence, 1851-1913
Commodity prices played a critical role in the surge and decline of inflation since 2020. This column studies the relationship between commodity prices, consumer prices, and the business cycle for 15 economies in the years prior to World War I. It finds a strong positive relationship between inflation and commodity prices, even when focusing on commodities that are unlikely to have been in the consumer basket. Demand-induced increases in commodity prices, linked to the global business cycle, have a stronger effect on inflation.
The New Gulf War: Epic Fubar Goes Global
Why there is much more at stake here than rising prices
Ways to think about token pricing — Benedict Evans
AI is in a supply crunch today, but what happens when we come out of it? How and where will supply, demand, price, capacity and capex get back into equilibrium? Today, model labs can name their price, but why won’t they end up as low-margin commodity infrastructure?
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News, analysis and opinion from the Financial Times on the latest in markets, economics and politics
Why the super rich are inevitable
Why some mathematicians argue the economy is designed to create a few super rich people – unless we stop it.
The Future of Money: How the Digital Revolution Is Tran…
A cutting-edge look at how accelerating financial chang…
Cryptocurrency 'market caps' and notional value
A naive equation works well when estimating the value of small quantities of popular crypto tokens, but it's also being used to estimate values of illiquid tokens and the market capitalization of all of crypto. Journalists are publishing misinformation and uncritically repeating these figures, helping to prop up the belief that crypto is a far larger industry than in reality.
Electricity prices rising by double the rate of inflation. Data center demand means no relief ahead, analysts say
The impact of the AI industry on electricity prices has turned into a major political flashpoint ahead of the midterm elections this November.
