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Michael Nagle/Getty Images White House Deputy Press Secretary Raj Shah played down concern over the stock market’s intense sell-off. Shah told reporters “markets do fluctuate” and “the fundamentals of this economy are very strong.” White House officials are downplaying the recent chaos in the stock market, saying its a short-term wobble and the US economy […]
IT IS usually considered quaint to predict foreign-exchange movements by reference to whether currencies are dear or cheap. Metrics such as The Economist’s Big Mac index, a lighthearted guide to exchange rates, hint at how far currency values are out of whack. But they are often driven further out of kilter by capital flows, by […]
