Robert Peston
Political Editor at ITV News
ITV (pol ed), Speakers for Schools (founder), writer (WTF), Hospice UK (vice pres), Arsenal (East Stand), Peston (as in #Peston show, 10.45pm Weds). So?
Articles
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2 months ago |
itv.com | Robert Peston
We just learned that the world’s most powerful person, Donald Trump, has a boss: the bond market. He may not have acknowledged this to himself, yet, but the global financial tumult he caused - and has temporarily eased - has locked him in a fiscal prison.
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2 months ago |
itv.com | Robert Peston
Say what you like about Donald Trump - and most of you do - he is already the most significant American president for decades. Though not necessarily for the good of the world or even of the United States. One measure is that in the week since he announced the highest tariffs since those of the 1930s - the Smoot Hawley tariffs that contributed to the Great Depression - stock markets have tumbled across the world.
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2 months ago |
itv.com | Robert Peston
What we are watching is Donald Trump’s tariff-induced crash turning into a Liz Truss-style fiscal crisis. The collapse in US government long bonds, Treasuries, is startling, scary. It is precisely the opposite of what Trump and his advisers expected and wanted. It partly reflects heightened fears of US recession - which would see ballooning of US deficit - and may also be revenge selling by sovereign holders in tariff-hit countries.
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2 months ago |
itv.com | Robert Peston
With only hours remaining before febrile financial markets awaken again in Tokyo, it’s clear that the next 48 hours will be critical in deciding whether the US can avoid a recession and the world a painful growth deceleration. Because Trump and his record-breaking tariffs - and China’s tit-for-tat retaliation - have forced a triple whammy on the US. Hit number one is the tariffs themselves, which put up the costs of goods and foods, and crush the income of consumers and businesses.
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2 months ago |
itv.com | Robert Peston
Starmer has organised his military coalition of “willing” nations to defend Ukraine against Putin in the event of a peace deal. My conversations with senior government officials, business leaders and economists reveal a hunger for Starmer - or Canada’s Carney, or any elected leader of a sizeable democratic nation - to organise an “economic coalition of the willing”, to champion free trade against Trump and his tariffs.
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RT @itvpeston: It’s almost time for the Spending Review, so let's play bingo! What two words do you predict will come up in the Chancellor…
I have another slightly downbeat technical reflection on Treasury decisions, ahead of tomorrow’s spending announcements by the Chancellor. It is to ask why Rachel Reeves is not taking more advantage of her relatively bold change in the debt fiscal rule. To remind you, she
