• Turkey's currency panic reveals a major downside of Trump's ‘America First' policy - and offers an early warning to the Fed

    6 monthes ago - By Business Insider

    Turkey's currency crisis has lurched on to the global stage, denting European and US stocks as fears of contagion rise.
    The country's economy was already in trouble, but the lira's selloff was heavily compounded by Donald Trump's announcement that he was doubling tariffs on Turkish steel and aluminum.
    The boomerang market effect showed just how interconnected the global economy and markets remain, making it difficult for Trump to pursue an isolationist stance, and for the Fed to continue raising interest rates.
    Turkey's currency crisis spilled loudly on to the global stage Friday as other...
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