Despite erratic politics and global conflict, the U.S. economy is building a powerful head of steam — and risks overheating. Step back from the daily noise and the picture is clear: fiscal largesse, loose financial conditions, booming business investment and near-zero real interest rates are all stoking the economic engine.

If inflation returns to its target in that environment with ​no tightening of either fiscal or monetary policy, that would be extraordinary.

(Continue Reading – RTRS)

For years, forecasts of the energy transition followed a familiar script: electric vehicles would gradually dent gasoline demand in Europe and China before eventually spreading elsewhere.

The latest trade data suggest that process may already be accelerating across a much broader swath of the global economy.

(Continue Reading – RTRS)

Disruptions on one of Europe’s most important trade arteries are poised to intensify after the Rhine fell to the lowest on record ahead of the peak summer dry season, with conditions likely to worsen in the weeks ahead.

The barge clearance level at Kaub, a choke point for vessels heading to southern Germany and Switzerland, dropped as low as 21 centimeters (8.3 inches) overnight, the lowest since records began in 1880. It edged up slightly Tuesday morning, but is unlikely to offer lasting relief, as the Rhine typically bottoms out later in the summer. Forecasts already point to a drop to 17 centimeters by Saturday.

(Continue Reading – BBG)