The New York Stock Exchange may need to hang a sign on the front door: “Abandon all hope ye who enter here.” Gaping at the US stock market these days is not for the light-hearted. It is a Herculean affair as an ocean of red ink floods Wall Street. But will short-term pain fuel long-term gains? This could be the strategy adopted by the administration as it engages in a full-court press to lower interest rates, reshore domestic manufacturing, and “Make America Wealthy Again.” But will the country have an appetite for this?
Sir, Interest Rates Have Fallen
At the onset of President Donald Trump’s second term, the Republican leader urged the Federal Reserve and central banks worldwide to cut interest rates. The Eccles Building did not heed the recommendation. After slamming Fed Chair Jerome Powell in several social media posts and…
