Needless to say, the US business television channel yesterday eagerly arranged an interview with Larry Kudlow, President Trump’s chosen replacement to Gary Cohn as chief economic advisor. The economist is a regular contributor tom CNBC and surprised yesterday, in his new role, by saying, ‘I would buy King Dollar and I would sell gold’, adding that the Fed should not ‘overdo’ rate rises and that ‘growth is not inflationary. Just let it rip, for heaven’s sake’.
Yesterday research from the Economist Intelligence Unit claimed that Singapore is still the world’s most expensive city for international tourists. Paris and Zurich tie in second place, Hong Kong not far behind, then Oslo, Geneva and Seoul tied in sixth place followed by Copenhagen and Tel Aviv. London sunk to 30th position, its cheapest in 20 years, on sterling weakness. Locals have not benefited, instead having to cope with inflation and stagnant wages.