Fiscal policy regains dominance over monetary policy in US economic management
Recent US policy moves including yen intervention, Fed decisions and tariffs signal a shift toward fiscal primacy in economic management.
Recent US economic policy choices—from yen intervention to Federal Reserve decisions to new tariffs—indicate a broader shift toward fiscal policy taking the lead in economic management over monetary policy. This change represents what analysts describe as a regime shift in how the US approaches economic governance.
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The return of fiscal primacy
From the yen intervention and the Fed hold to new US tariffs, recent US policy suggests the return of fiscal primacy. Regime change is accelerating, says David Skilling