DONALD TRUMP can hardly ever resist the urge to interact in name-calling. Sometimes his barbs are extra juvenile than consequential. However his designation of Jerome Powell, chair of the Federal Reserve, as “Mr Too Late, a significant loser” is not any mere insult. It is perhaps the harbinger of an assault on the central financial institution, and it’s another reason to fret in regards to the American financial system. When markets opened on April twenty first, after an extended Easter weekend, American shares, Treasury bonds and the greenback all sharply declined—one other instance of the “promote America” commerce.
