The phrase “batten down the hatches” has nautical roots. The captain had complete control of the timing of readying the ship for the storm. Captain Donald Trump would like the same discretion over the timing and actions of the Fed, although he is unlikely to get it.
In the span of three months, U.S.-China trade relations went from being on the verge of a settlement to the precipice of an all-out trade and currency war. It looks like Trump’s infamous quote that trade wars are easy to win will be put to a test. How did it all go so bad, so fast?