In this edition of the Canso Market Observer, we present the reality show and soap opera called “Withering Heights” the story of recent interest rates in the United States. The co-stars of our drama are the Federal Reserve (Fed) and the bond market, with a supporting cast including the hapless Jerome “Jay” Powell and his “Dot Plot” entourage on the Federal Reserve Open Market Committee (FOMC). The evil villain is none other than President Donald Trump. Using his magical Twitter powers, the President attempts to bully the Fed into whimpering lackeys who will do his bidding and take interest rates to zero to get him re-elected.
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