The only way to win is to support the second most expensive form of energy (behind nuclear) that also happens to be the deadliest form of energy. Cheap and safe is woke!
The problem is the dual mandate. The latest inflation numbers ticked up. Basically, this is now an empirical question of how the deadweight loss of the tariffs will manifest: 1. A more traditional recessionary scenario, where people stop buying things due to tariffs and prices don't increase because of it, allowing the Fed to cut rates. 2. A more inflation-oriented reaction, in which the Fed needs to increase rates to hold down inflation but consumers and businesses keep buying at high rates. 3. A combination of the two, essentially a stagflationary impact. That leaves the Fed with very few options to pursue both mandates and likely leads to substantial instability in the Fed as they fight about which mandate to prioritize (which Trump will use to try to consolidate power). The first data looked like number 1 (e.g., drops in consumer spending but limited changes to inflation), but I think you are seeing signs of number 3 popping up.
