2025 is the best of times, and the worst of times; an epoch of belief, an epoch of incredulity. In an increasingly polarized world, people will cling to one side or the other—without recognizing that both sides can have a point. It is an economist’s role to impartially assess the economic consequences of politics, in clear and direct language. The likely result is that I will upset everyone this year.
UBS On-Air: Market Moves