AI’s Future May Be Written in Railroads’ Past

The historian A.J.P. Taylor once quipped that the only thing people learn from the mistakes of the past is how to make new mistakes. But there are nevertheless many lessons to be learned if you look in the right places. Consider the extraordinary parallels between...

German Inflation Jumps to Nine-Month High as ECB Ponders Outlook

Germany’s inflation rate unexpectedly rose to the highest level in nine months, offering a reminder before the European Central Bank’s final meeting of the year that risks to price stability remain. The reading came in at 2.6% in November, up from 2.3% last month,...

How the K-Shaped Economy Is Hurting Everyone But the Rich

Talk of the K-shaped economy is brewing once again. The moniker first gained traction in 2020 to describe the divergence between how rich and poor Americans were experiencing the pandemic recovery. Now, with consumption increasingly concentrated in the top echelons of...

UBS’ Romano Says Rotation Out of US Stocks Is Likely Done

The selloff in US stocks may have run its course, setting the stage for a year-end rally, according to UBS Securities’ trading desk. Stocks slumped last week as investors questioned the prospect of further Federal Reserve policy easing and rotated out of the crowded...