Whatever might Trump say, US Fed chairman Jerome Powell is not the problem

The Federal Reserve Board has had the temerity to do exactly what it had signaled for months it would do, steadily raise interest rates to prevent the economy from overheating

There’s a saying, now associated with the investor Warren Buffett, that if you’re playing poker for 30 minutes and you don’t know who is the fool at the table, the fool is you. Since President Trump once owned casinos, you’d think that he might have caught on by now. Then again, those casinos went bankrupt, an outcome that Mr. Trump blamed on anyone not named Donald Trump.

Now that he’s president, the table stakes are much higher. Except that Americans are the ones who are losing. With the stock market in bear territory since September, and the S.&P. 500 off about