The Fed is pledging to do what it takes, while America’s elected officials seem unlikely to agree on fiscal policy. These are the potential seeds of the country's next populist crisis.
For bitcoin speculators, last year was a bonanza. The cryptocurrency started January 2020 at $US7194 and on Sunday surged above $US34,000 ($44,121) – a more than 360 per cent annual return.
Courtesy of the US Federal Reserve, asset buyers in general have had a stellar pandemic. Whether it was US Treasuries or junk bonds, equity portfolios or high-end property, the free money gusher has lifted all asset prices.
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Financial Times
Edward Luce is the Washington columnist and commentator for the Financial Times. He writes about American politics and the economy.
