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The Federal Reserve is about to take another small step toward getting US monetary policy back to normal. The only catch is that, as with politics and the economy, no one really knows what “normal” means anymore. So far, investors have viewed this unusual situation calmly, and the Fed is hoping this doesn’t change. But calm can become complacency—and that’s ...

When members of the White House staff find themselves under criminal investigation, they should be allowed to raise money for their legal defense. They should not be allowed, as a newly revised policy from the Office of Government Ethics permits, to accept contributions from anonymous donors. The cost of public service is sometimes unreasonable, occasionally outrageous, and extracted from members ...

Back in April, I wrote about one of the most troubling mysteries in economics, the falling labor share. Less of the income the economy produces is going to people who work, and more is going to people who own things. This trend is worrying because it contributes to increased inequality—poor people own much less of the land and capital in ...

What’s the most important innovation behind the rise of renewable energy: Taller wind turbines? Smart power grids? Spray-on solar cells? None of the above. For all the advances made by engineers that cut the cost of solar modules and new wind generation by more than half in five years, the true heroes of the renewables revolution may be a group ...

There’s a hard truth to understand for the many Catalans who intend to vote for independence on October 1: Regardless of the legality of their vote, its result can only stand if they are ready to fight for it — and if they can win in a violent conflict. As things stand before the independence referendum, Catalonia and Spain are ...

Bloomberg Australia’s four largest banks have scrapped cash withdrawal charges for all users, as the banking industry tries to salvage its reputation after a series of scandals. Commonwealth Bank of Australia, the nation’s biggest lender, said on Sunday it would immediately remove the A$2 ($1.60) fee for all users of its 3,400 branded automated teller machines across the country. Westpac ...

Bloomberg Bankers advising the Federal Reserve Board said a lack of follow through in the Trump administration’s economic agenda has resulted in slowing credit demand despite high levels of sentiment. “The post-election expectation was that the gain in confidence and financial market deregulation would spur credit creation,” according to minutes released by the Federal Reserve Board of its Sept. 8 ...

Bloomberg China has notified regional regulators that it aims to stop exchange trading of cryptocurrencies by the end of September, according to people familiar with the matter. The plan was distributed by a People’s Bank of China-led group overseeing Internet finance risks, said the people, who asked not to be named because the information is private. The notice suggests policy ...

Bloomberg Billionaire Shari Arison agreed to sell almost 10 percent of Bank Hapoalim Ltd. in what could become one of the biggest deals in Israel’s financial sector. Arison signed a non-binding agreement to sell 49 percent of her investment and philanthropy arm, Arison Holdings 1998 Ltd., to unidentified North America-based institutional investors and an investment firm, according to a Tel ...

Bloomberg Zimbabwe will access a $600 million credit line from African Export-Import Bank in an effort to stave off a foreign-currency shortage that’s afflicted importers of everything from food to fuel. The southern African nation needs the assistance “especially during the foreign-exchange drought, which runs from October to February next year,” Finance Minister Patrick Chinamasa said at a ceremony Saturday ...