Over coffee this week, some friends and partners brought up the latest memorandum or peace deal between the US and Iran. As expected, opinions were plentiful and certainty was in short supply. “Oh really?” a partner remarked when the agreement was described as a major victory for Trump. Another had actually taken the trouble to…

Kevin Warsh will do everything reasonably possible to avoid raising rates. That may sound odd given the overwhelmingly hawkish interpretation of this week’s FOMC meeting, but I came away with a different impression. Contrary to most (all?) of the FOMC summaries I read so far, I did not find Warsh’s press conference particularly hawkish. Warsh…