The rate cut in September 2024 was the real disaster because inflation was not licked, and yields now have simply retested their highs after some hopeful but ultimately failed signs of spending discipline around DOGE and of increased revenue from tariffs.
The failure to win in the Persian Gulf just compounded the inflation problem, restoring the status quo ante, and then some.
The Fed is the one needing the help, but it isn't going to get it from a spendthrift Congress and reckless executive branch.
Vance says Fed should lower interest rates: ‘Would be nice to have some help’
