Mexico’s Deputy Central Bank Governor Irene Espinosa is doing what many other politicians do when they want innocence from a problem – blame global warming. Inflation is higher this year in Mexico and food inflation specifically has shot up to 6.1 percent. The Deputy Governor has responded with the statement that “The spike we have seen in fresh food [prices] as a result of climate change…” If climate change is to blame, one would expect a drop in production but there is nothing in the indicators to suggest that is a problem. The country’s food production continues to expand on a solid pace.
Of course, she said “fresh” food, which is a poorly defined term but looking at the production of &...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
