Source: The American Prospect
by Robert Kuttner
“Not surprisingly, Trump’s tariff ‘pause’ has failed to reassure either trading partners or financial markets. His comment to a Republican gathering that other countries are ‘kissing my ass, they are dying to make a deal’ has backfired. Other national leaders, mistrusting Trump’s capacity for keeping his word (and his sanity) are not in fact behaving like, say, the craven presidents of Harvard and Columbia Universities. They see Trump’s capitulation as a sign of weakness and are likely to drive tougher bargains. The escalating trade war with China adds to the instability. As financial markets continue to gyrate, the role of one key player, Fed Chair Jay Powell, is worth a closer look. Trump has been pressuring Powell to cut interest rates. But that would only serve to enable Trump’s trade war by cushioning its economic impact.” (04/11/25)
https://prospect.org/blogs-and-newsletters/tap/2025-04-11-could-jay-powell-restrain-trump/