The Fed is facing a dreadful set of tradeoffs. Prices are likely to rise in the coming months as tariffs bite. But uncertainty is freezing hiring and capex—bad for growth. Cut rates? Possibly after the labor market cracks. Preemptive cuts aren’t in the cards and it’s not at all clear how much they’d cushion the hit before it comes. Witness rising bond yields on Monday and Tuesday. “They are in a no-win situation.” https://www.wsj.com/economy/central-banking/jerome-powell-fed-interest-rate-trump-tariffs-recession-67481e65?st=FhFjgh&reflink=mobilewebshare_permalink