On Tumbling Asian Currencies & Stagflating Australia

Today, William discusses how a more hawkish US central bank and stronger US dollar hammer Asian economies. Besides driving down the value of their currencies, it makes them more vulnerable to excessive inflation and poses problems for their monetary and fiscal policymakers. … Also: He explains how the Australian economy, resilient for 30 years, was “undone by its own success” as structural advantages became liabilities over time. Stagflation now looms, putting the central bank in a tough spot. … And Toby gives a “boots on the ground” assessment of the stock market in his native Australia.