Magazine January 28, 2019, Issue

Money Trouble

(Roman Genn)
Trump vs. the Fed

Divining why stocks have moved up or down is a perilous business. Even if an analyst gets the explanation right, he should remember the artifice in attributing a point of view to “the market” — as though there are things it thinks, wants, and fears. But stocks did sink in December when the Fed raised interest rates and signaled more rate increases were coming the next year, and they sank again on reports that Trump is so unhappy with this course that he is considering trying to fire Fed chairman Jay Powell. Treasury Secretary Steve Mnuchin then said that the

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

In This Issue



Books, Arts & Manners




Readers respond to Kevin Williamson’s thoughts on wearing a suit to work and Graham Hillard’s essay on naming churches.
The Week

The Week

Planned Parenthood mistreats its pregnant employees? You should see what they do to their pregnant customers.


“A perfect candidate for Miss Morbidity, I often wake at 4 a.m. to hear the hiss of life evaporating from the lake…”


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