Trump’s gamble on Argentina
The US administration is backing an ally’s misguided exchange rate policy
The US administration is backing an ally’s misguided exchange rate policy
The Treasury’s intervention holds risks for Washington
Treasury secretary Scott Bessent is taking a big gamble with his $20bn swap line to prop up a Trump ally
President suggests $20bn swap line is contingent on libertarian’s victory in midterm elections
Size of US bailout and support for agricultural rival begin to rankle the president’s political allies
Libertarian president’s tight grip on inflation cost him dollars and slowed growth
Forward contracts indicate a 12% decline for currency despite $40bn US support package
