With his passionate and combative speech at the American Democratic Convention with which he accepted the candidacy for the White House Kamala Harris opened in the Italian night a very effervescent Friday that animates politics and finance in America and Europe. Without forgetting the very difficult conversations of Cairo to attempt a ceasefire in the tormented area Gaza. Kamala dominates the scene but today there is also much else: the French President Emmanuel Macron meets representatives of all parliamentary groups at the Elysée to try to give a government to French and, finally, last but not least, the President of the Fed, Jerome Powell speaks at the annual meeting of central bankers of Jackson Hole on monetary policy. A Friday so full of important events for politics and finance in America and Europe doesn't happen every day. For politics, the spotlight is visibly on the speech that the Democratic candidate for the White House made at the Chicago Convention, of which all the implications of domestic and economic policy but above all of foreign policy with the consequent effects on Europe and on Italy.
The spotlight is on Harris but no less on the Elysée where Macron, after having stopped the black wave of Marine Le Pen at the last elections, he must try to form a new government, knowing that the only Executive in Parliament that has the numbers to live its own life and to be sufficiently stable is the centre-left one which could arise from an agreement between Macronians, Republicans, Socialists and ecologists. A complex operation, of indisputable pro-European and reformist imprint, which requires the cutting of the wings and that is the obvious repulsion of the extreme right but also of the extreme left of La France Insoumise of Jean Luc Melenchon. The game is therefore in the hands of the socialists: if they will feel like breaking with Melenchon's maximalist wing, a sort of "black bock without a hood", as Giuliano Ferrara defined him in the Foglio, after having campaigned together in the July run-offs ? If they have this courage, as former Head of State Francois suggests Holland and the rising star of the reformist and socialist left Raphael Glucksmann, for the centre-left the doors of the Elysée are wide open and there is no shortage of prime minister candidates.
Finally, the Fed. The spotlight of all the markets is today on Jackson Hole where the President of the Fed, Powell, will finally have to reveal the cards and say whether the American central bank is ready to cut rates (when and by how much) before the recession that Trump arrives he would not fail to charge Joe Biden's Democratic government as the Nobel Prize winner Paul Krugman he promptly warned.
Today the world will not change but it will certainly no longer be the same as yesterday. And the words and deeds of Harris, Macron and Powell concern us very closely too.