TẦM NHÌN "ĐỊA-VĂN-CHÍNH-CÔNG-KINH"
QUYẾT ĐỊNH THÀNH CÔNG
I FORESEE TO WIN
NOTHING IS PERMANENT EXCEPT CHANGE

The Fed does not cut short rates and the market raises long rates. The sense that policy is being politicised increases uncertainty, which is likely to affect investment and slow growth.

So Mr Trump is surely making a serious error in his rhetorical approach to the Fed. Two questions remain.

First, how rapidly should the Fed raise interest rates in coming months?

Second, recognising that public Fed bashing is wrong, what should the nature of relations between the central bank and the executive branch be?

On neither question does orthodox thinking seem quite right to me.