President Donald Trump’s decertification of the Iranian nuclear deal is a mistake. Yes, its supporters have exaggerated the agreement’s benefits — but on balance, the world is better off with it than without it. In the near term, the decertification doesn’t really change much. The deal will remain in effect while Congress considers re-imposing sanctions on Iran, in effect killing …

Five or six years ago, with the hangover from the Great Recession still dominating the national conversation, macroeconomic policy was all the rage. Now, it’s an afterthought, with issues like health care, trade and energy taking center stage. But behind the scenes, macroeconomists have been rethinking the basics of how they approach their discipline. The Peterson Institute for International Economics, …

Could the end of the petrodollar be in sight? Moves by China to set up its own crude futures contract and invest in Saudi Arabian Oil Co., or Saudi Aramco, are leading some to think so. Beijing will compel the Saudis to trade oil in yuan, CNBC quoted High Frequency Economics founder Carl Weinberg as saying last week. Crude contracts …