The one truism about US politics is: “its all about the economy, stupid”, and Trump is clearly set to blame an unsupportive Fed if the US economy slows into election year. That’s potentially one of the most dangerous moments I can imagine? The global economy losing trust in a beleaguered Fed. The comments Trump is making, including “Mnuchin gave me this guy,” and others, might sound classic Trump rudeness, but there is a great article in the WSJ detailing how he blasted the central bank and its leader at three meetings in the past week alone. This is something the market should keep a close eye on.