© 2019 Alice Fulwood

Wall Street Correspondent, The Economist




Alice Fulwood is The Economist's Wall Street correspondent, covering a range of topics about banking and the financial system in the US. She is based in New York. 


Before that Alice was a business correspondent, based in London, covering the pharmaceutical industry. She first joined the paper on an internship sponsored by the Marjorie Deane Foundation, where she wrote about finance, banking and economics. 


Alice started writing for The Economist in 2018. Prior to joining The Economist Alice worked for UBS, a Swiss investment bank. During her tenure Alice was based in Singapore as an Economist covering Indonesia, the Philippines, Malaysia, Singapore, Thailand and Vietnam. She also worked as a foreign exchange spot and derivatives sales trader in London. Alice graduated from the University of Cambridge, where she studied Economics. 



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Published work


The real estate racket

Selling a home in America is too expensive

February 2020


How the mighty have fallen

The bank’s search for a new identity captures the changes in global banking

January 2020


Christmas bonus

The causes of a booming stockmarket are unlikely to last through 2020

January 2020

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Follow the money

Why the repo market went awry...

November 2019


Territorial claims

Is the board overseeing Puerto Rico's bankruptcy unconstitutional?

October 2019


The new masters of the universe

Forget Gordon Gekko, computers increasingly call the shots in financial markets

October 2019


Sellers beware

Why America’s real-estate brokers are such a rip-off

August 2019


Generous to a fault

Why America’s biggest charities are owned by pharmaceutical companies

August 2019


Ball-game theory

Economics is all about allocating scarce resources

July 2019


Alternative reality

When buy-out firms first came to prominence in the 1980s, they were seen as wolves in fine Italian wool

June 2019

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The giants are coming

By almost any measure, America’s biggest banks are behemoths

June  2019


Flipping property 

A well-functioning market is one that enables buyers and sellers to execute transactions quickly, easily and cheaply

May 2019

In the pillory

You have not been able to keep Wells Fargo out of trouble,” Maxine Waters told Tim Sloan, the chief executive of America’s fourth-biggest bank

March 2019

Shooting the messenger

Those who profit from the misery of others are not often popular

February 2019

A delicate balance

As dull as “watching paint dry”.

January 2019

Kill or cure?

As befits a deal in the medical industry, this one has been rather hard to swallow.

December 2018

Vein attempts

A willing buyer in a market with plenty of willing sellers, Barzin Bahardoust is finding life surprisingly hard.

May 2018


Watching financial markets can be like watching a horror film.

April 2018

Collateral damage

China is the stated adversary in Donald Trump’s incipient trade war.

March 2018


Tearing down the house

Technology is poised to upend America’s property market

February 2020



Goldman Sachs bets the firm on a new identity

January 2020

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Christmas repeat

Despite the Fed’s efforts, the repo market risks more turbulence

December 2019

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How to fix the repo market

How to ensure financial firms have enough cash

November 2019


Light relief

The Fed has lightened the load on America's banks

October 2019


March of the machines

Fifty years ago investing was a distinctly human affair

October 2019


Love at first byte

Apple and Goldman Sachs launch their credit card

August 2019


Pick your poison

Conversations with bankers about the Democratic primaries invariably turn to Elizabeth Warren

July 2019


Think blind dates couldn’t get any worse? Try this

I am trying to decide if the two strangers I am watching on a blind date are into each other

July 2019

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The hottest seat in banking

It is with relief—oops, I mean “regret”—that I must turn down your offer of the role of chief executive at Wells Fargo

June 2019

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Flight to safety

Grimstad, norway, is an unlikely setting for financial-market shenanigans

May 2019

Picking up $20 bills

Economists have long argued about the efficiency of markets

April 2019


When future generations want to study today’s capitalists, a good place to start would be Warren Buffett’s annual letters to the shareholders

February 2019

Bigger is beautiful

Giant banks are made, not born

February 2019

A port in a storm

Teesside was the future, once. 

January 2019

Sales from the crypt

In a recent video Jeremy Sciarappa, a YouTuber, flips the lid off a red box in his living room to reveal a silver machine the size of a shoebox, whining noisily.

May 2018

Where it's due

In 2013 Codere, a Spanish gaming firm, owed money it could not repay. Its bonds were trading at just over half face value.

May 2018

Shifting silicon

Morris Chang is preparing for retirement. 

April 2018

A sunny place for a shady currency

It “will be an instrument for Venezuela’s economic stability and financial independence”, promises a white paper published by the country’s government last month.

March 2018


Market making

Why Intercontinental Exchange wants to buy eBay

February 2020


The country home of capital

Why so many of America’s financial elite have left Greenwich

January 2020

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A life's rich tapestry

How Jim Simons became the most successful investor of all time

November 2019


The Makeover

What kind of bank will Wells Fargo be?

October 2019



A group of fintech firms are changing the way consumers borrow

October 2019


Home truths

Steven Mnuchin begins reforming America’s giant mortgage-guarantee firms

September 2019


The bonds that tie

Argentina faces the prospect of another default

August 2019


Looking after the pennies

Those saving for retirement face plenty of quandaries

July 2019


Exam time

Summer brings examinations, both for students and for America’s banks

July 2019

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The tail that wags

The federal reserve is changing direction

June 2019

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Chubby cats

If the best way to get rich is by managing other people’s money, it helps if your clients control a lot of it

May 2019


No one is more aware of the value of a brand than Goldman Sachs

April 2019

Under the hood

"Go straight to the source" is a useful rule for anyone seeking accurate information

February 2019

Letter and spirit

Shakespeare was a fan of the quibble.

January 2019

Hybrid heaven

The mellow thrum of the Toyota Prius is to the streets of Ulaanbaatar what the screech of brakes and honk of horns is to New York: omnipresent.

January 2019

Blood money

This year marks the 200th anniversary of the first successful human-to-human blood transfusion, conducted by James Blundell, an English obstetrician working just across the Thames from The Economist’s offices. 

May 2018

Rule the school

Boston parents were fed up.

April 2018

Phone home

Morris Chang is preparing for retirement. 

April 2018