The U.S. dollar is overvalued and, if history has any lessons for investors, it’s that the dollar is set for a multi-year fall, according to Mondrian Investment Partners Ltd. “The way that we look at currencies generally is to take a valuation approach,” says Kevin Fenwick, portfolio manager for global fixed income and currency at […]
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy was in the grip of […]