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What We Are Following in the News

Dollar-based stablecoins offer benefits for the US, which might promote their use, partly in order to enhance the dominant role of the dollar and so help finance its huge fiscal deficits. https://buff.ly/ZArWYgn

Donald Trump will soon launch a final round of interviews for Federal Reserve chair, pitting White House economic adviser Kevin Hassett — currently frontrunner in the race to replace Jay Powell — against a trio of other candidates. https://buff.ly/rMZs4FO

Canada is making an aggressive effort to attract highly skilled researchers from around the world, including H-1B visa holders in the United States who are coming under growing pressure because of the Trump administration’s restrictive immigration policies and cuts to research funding. https://buff.ly/ajpruLI

Trump threatens 5% tariff on Mexico goods. The U.S. president said he would install the levies due to Mexico’s non-compliance with a treaty governing water flow between the countries. https://buff.ly/55uevTD

Slowly but steadily, central banks around the world are starting to tilt away from the idea of lower interest rates, pushing yields higher. If the shift endures, the implications are huge for financial markets everywhere. Higher yields mean increased borrowing costs for governments, companies and consumers. They’ll also pull money out of equity markets and remove a prop under the valuation of high-flying tech stocks.

Trump is talking tariffs again, this time signaling he may impose fresh levies on agricultural products including Canadian fertilizer and Indian rice, potentially pushing up the price of your groceries. https://buff.ly/buks6ZO