FT News Briefing Kamalanomics goes on defence
Aug 20, 2024
The US dollar has fallen to its lowest level this year, raising eyebrows as the stock market stabilizes. Meanwhile, rising tensions between the US and China threaten a long-standing science and technology collaboration. Democrats defend Kamala Harris’s economic roadmap, which is facing skepticism from economists concerned about its feasibility amid ongoing inflation. The complexities of voter sentiment and international cooperation in research are highlighted as essential for addressing global challenges.
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Dollar Decline
- The US dollar dropped to its lowest point this year due to investor speculation of a Federal Reserve interest rate cut next month.
- A recovering stock market also contributes to the dollar's decline, as investors regain confidence in equities.
Kamala Harris' Economic Plan
- Vice President Kamala Harris's economic plan, focusing on family support, housing, and food prices, has drawn criticism.
- Economists raise concerns about potential market distortions from proposed price controls and the plan's overall cost.
Harris' Plan Breakdown
- Harris's plan includes increased child tax credits for families with newborns, down payment assistance for first-time homebuyers, and measures to address food prices.
- These proposals aim to alleviate the financial burden of inflation, a major concern for many Americans.