Japan's huge $1 trillion-plus in U.S. Treasury holdings are among the tools available for Tokyo to use in trade negotiations with the United States, Japanese Finance Minister Katsunobu Kato said on Friday.

Treasury Secretary Scott Bessent has picked the worst possible moment to consider loosening a crucial financial system safeguard.

Odd Lots · Episode

On 2 April 2025, the US announced tariffs on most of its trading partners, creating a major trade policy shock to the world economy. This column shows that the US dollar depreciated on impact, rather than appreciating as expected based on standard theory and prior evidence. The authors argue that this unusual transmission impact of the tariffs on the dollar was driven by foreign equity portfolio rebalancing away from US equities. US trade policy not only needs to consider possible impacts on US safe assets but also risky assets.

Industry executives report change of approach as Beijing bears the brunt of Trump’s tariffs

With Jerome Powell ruling out a rescue mission this week and incurring the wrath of Donald Trump, Wall Street is desperate for a lifeline as tariff-lashed markets slide anew.

Abstract. This article examines whether firm-level idiosyncratic shocks propagate in production networks. We identify idiosyncratic shocks with the occurre

On 2 April 2025, the US announced tariffs on most of its trading partners, creating a major trade policy shock to the world economy. This column shows that the US dollar depreciated on impact, rather than appreciating as expected based on standard theory and prior evidence. The authors argue that this unusual transmission impact of the tariffs on the dollar was driven by foreign equity portfolio rebalancing away from US equities. US trade policy not only needs to consider possible impacts on US safe assets but also risky assets.

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Heightened tensions can hurt stock markets, raise government borrowing costs, and pose risks to financial stability