Warsh Fed holds rates steady. Trump says 'It's all right. Whatever.'

[Prairie Gates]

3. Lowering rates amidst rising inflation was a bridge too far for even Trump-toady Warsh

Like all capitalist economists, he's of course on record hundreds of times declaring the ground truth of macroeconomics known to every college freshman: you shouldn't lower rates when inflation is rising.

Maybe somebody finally got it through Trump's head that inflation would be at 5% by November if Warsh lowered rates. This is what happens when people pay others to take their SATs for them and Dad's money gets them into UPenn. Meritocracy and all that.