, Columnist
Trump’s Return Is an Abominable Ambush for the Fed
Coming down the mountain of high interest rates was always the most dangerous part. For Jerome Powell, it now looks even harder.
Powell, I’m comin’ for you.
Source: Getty Images
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Some analogies never stop giving. Points of Return has long compared the descent from high interest rates to a group of mountaineers climbing down a cliff. They need to stay roped together for safety, and risks are greater when descending. And just as that seemed to be going well, they have a new problem — there’s a large and angry orange-skinned yeti waiting for them.