Ray Dalio's Warning For Fiat Currencies, Potential Impact Of Trump's Tax Refunds On Markets, And More: This Week In Economics
As the week draws to a close, let’s take a quick look at some of the most significant events and developments that took place over the past few days.
Ed Yardeni: Trump’s ‘Humongous’ Tax Refunds Could Spook Markets, Risk Rattling Bond Yields
Ed Yardeni, the president of Yardeni Research, has warned that the “humongous refunds” promised by the Trump administration could lead to a potential clash between government spending and the bond market, potentially driving up interest rates. This could pose a significant risk to the economic outlook, according to the economist.
Read the full article here.
Ray Dalio: All Fiat Currencies Are In ‘Trouble,’ Predicts Major Devaluation Cycle
Billionaire hedge fund manager and Bridgewater Associates founder Ray Dalio has issued a stark warning about the future of global finance, stating that all major fiat currencies are “in trouble” due to unsustainable debt loads. He predicts a significant currency devaluation cycle, similar to those of the 1930s and 1970s.
Read the full article here.
Brian Moynihan: US Economy Is ‘much Bigger’ Than Fed
Bank of America Corp. (NYSE:BAC) CEO Brian Moynihan believes that America’s focus on Federal Reserve rate changes has overshadowed the private sector’s role in driving the economy. Despite growing political pressure and concerns about the central bank’s independence, Moynihan argues that the U.S. economy is “much bigger” than the Federal Reserve.
Read the full article here.
Paul Krugman: Trump’s Policies Hurting Small Businesses
Economist Paul Krugman has warned that President Donald Trump’s policies are increasingly impacting the small business community, which has traditionally been considered the core of his political base. Krugman stated that small business owners, who celebrated Trump’s return to the White House, had a “miserable” year in 2025 and cautioned that “2026 will be worse.”
Krugman cited research showing that the experience of being a small business owner leads to conservative views on government regulation. However, he noted that these expectations have collided with policy reality over the past year.
Read the full article here.
Alexis Ohanian: Taxing Unrealized Gains Isn’t The Answer To Growing Wealth Gap
Reddit Inc. (NYSE:RDDT) co-founder Alexis Ohanian has criticized California’s proposed 5% billionaire wealth tax, warning that it could be a costly mistake, especially for the state’s startup economy. Ohanian acknowledged that the widening “wealth gap” presents a fundamental challenge for society and needs to be addressed to “preserve our republic.”
Read the full article here.
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