Past is Prologue Jeffrey Garten is a Yale University dean and a former official in four different U.S. administrations. His latest book, Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy, covers the past but is applicable to the global economy today. Like the global economic crisis in the early 1970’s, today’s dislocation involves the dollar. By the 1970’s, Europe and Japan had become a significant share of the global economy, but the dollar remained tied to gold and made the U.S. uncompetitive. The trade deficit was exploding. Once again, the global economy has outgrown the policy foundation. Garten quotes then Treasury Secretary John Connolly making the Trump like remark, “Let&r...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.