When she started learning to play chess, my younger daughter was aghast that the pieces could’t always go where she wanted them to; she still ignores, for the most part, her opponent’s moves, figuring it’s enough for a victory to make good ones of her own. For two years, UK Prime Minister Theresa May has exhibited the same behavior. She ...

Since April, the yuan has fallen by almost 8 percent against the US dollar. This has led many analysts and politicians to speculate that China is intentionally trying to devalue its currency to offset the effect of President Donald Trump’s tariffs. It almost certainly isn’t. In theory, the price of the yuan is set by a basket of more than ...

President Donald Trump promised last week that the second-quarter gross domestic product number would be unthinkable. The number was, instead, what everyone expected, and that could pose a problem. The Commerce Department reported later that the second-quarter GDP rose an annualized 4.1 percent, just slightly less than forecasts for 4.2 percent. The biggest issue is that the number indicates that ...