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NOTHING IS PERMANENT EXCEPT CHANGE

Spending on consumer products grew at the slowest pace in five months, while growth in property sales was its slackest in a half-year

The Fed does not cut short rates and the market raises long rates. The sense that policy is being politicised increases uncertainty, which is likely to affect investment and slow growth. So Mr Trump is surely making a serious error in his rhetorical approach to the Fed. Two questions remain. First, how rapidly should the […]