Mortgage interest rates have stabilized, but any other financial stability at the moment is an illusion. Each new cabinet appointee and tweet flurry brings more understanding of policy ahead.
- President-elect Trump clearly intends business-friendly policies, but some pro-business policies in theory don’t turn out that way in practice.
- The Fed's rate-hike next week is a cinch; depending on the effects, it could give ammunition to those who say it should be confined to a mathematical formula.
- In the outside world, Trump’s elevation has changed nothing economic, which leaves the Fed raising rates while the rest of the world is still easing.