Though roller-coaster elections have recently become the norm in established democracies (witness France’s whirlwind campaign that ended recently), Germany appears determined to be an exception. As her party clinched yet another key regional election, Chancellor Angela Merkel is close to establishing her dominance in the September general election well ahead of time. Former European Parliament President Martin Schulz created …

  Although the Federal Reserve refrained from raising interest rates last week, it emphasized that policy makers still believe a gradual adjustment is warranted. On the surface, that’s a market-friendly policy because it means a slower pace of dollar appreciation, which would benefit emerging markets and commodities. Then there’s China, where a gradual adjustment higher in US rates could mean …

  Europe’s leaders are thrilled that Emmanuel Macron beat Marine Le Pen in the French presidential election — and they should be. Yet they ought to keep their celebrations brief, because they need to start thinking now about how to help Macron make a success of his presidency. Le Pen’s angry nationalism gave voice to widespread dissatisfaction with the European …