‘Don’t Fight the Fed’ Doesn't Apply to Trump
The US President and the US central bank are at loggerheads. Who’ll win?
Wobbly foundations: US President Donald Trump and Jerome Powell, chairman of the US Federal Reserve, during a tour of construction on the Marriner S. Eccles Federal Reserve building in Washington, DC.
Photographer: Alex Wroblewski/BloombergThis article is for subscribers only.
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There’s an old Wall Street adage: “Don’t fight the Fed.” It’s based around the idea that if you try to bet against the intentions of the US central bank, you’ll lose.