New post w/ Mark Spindel on the Fed's precarious political position during Trump 2.0.

Past guardrails that protected Fed from Trump attacks (less-MAGA GOP, low inflation & legal precedents insulating agency authority) are far weaker today than during Trump 1.0

https://www.bloomberg.com/opinion/articles/2025-02-11/when-trump-attacks-the-fed-it-will-need-markets-to-protect-it?embedded-checkout=true