I’m Chris Anstey, an economics editor in Boston. Today we’re looking at the US president’s plans for a sovereign wealth fund. Send us feedback and tips to [email protected] or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

You’ve heard of sovereign wealth funds. Now get your head around the idea of a sovereign leverage fund — effectively what Trump and his aides are eyeing for the US.