International - Financial Times - Credit Squeeze

Libertarian president’s tight grip on inflation cost him dollars and slowed growth

Few sectors will escape the negative supply shocks caused by the president’s policies

Forecasts come as businesses and households absorb impact of higher payroll taxes and regulated prices

Treasury secretary Scott Bessent says he’s not worried about country’s turmoil spreading to other emerging markets

Cutting interest rates while equities are roaring raises financial stability risk

British carmaker extends production halt to October 1 as it struggles with cyber attack fallout

Trading partners, including the US, and member states had pressured Brussels to postpone climate law further

Also in today’s newsletter, Nvidia’s $100bn OpenAI investment and car parts supplier First Brands Group prepares for bankruptcy

September survey data brings ‘sobering reality check’ for France, say economists

September PMI reading fell to four-month low amid a dip in sentiment and fears of autumn tax rises

Paris-based group predicts US policy rate will be trimmed to 3.25% to 3.5% by spring next year

TFP FTW

Also in this newsletter: Saudi Arabia and Pakistan draw closer, and Ashish Khanna’s mantra

The consortium that safeguards Italy’s prized cheese has signed an unlikely partnership with the New York Jets

Agriculture and drugmakers aren’t getting much traction, and it’s not even clear how tech will fare

Bristol Myers Squibb will sell its new schizophrenia treatment in the UK for $22,500 a year

Also in today’s newsletter, Murdochs join TikTok talks, and hedge funds’ new fee model

The US is applying pressure to lenders to drop restrictions on projects contributing to climate change

Bern offers to buy more American weapons and energy in attempt to persuade Washington to lower its import levies

Indonesia is just the worst of the worst in the world’s weakest regional market