However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn

The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”.

Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut.

Terrified of being seen as a loser, Donald Trump is nonsensically lashing out – even against our old friend Canada

I’m still grieving Dolly Parton. I never met her and always wanted to. She was almost exactly my age and my height and had values I deeply admired. Her death leaves a hole in the firmament.

Which brings me to the person whose values are as far from Dolly Parton’s as any human could possibly be and still claim to be human. I’m referring, of course, to the current occupant of the Oval Office.

The president senses a crisis in his cult of personality. He believes the path to victory is through unwavering devotion

Donald Trump has framed his theme for the midterm elections. It has come to him as naturally and inevitably as staring into the mirror, beyond any logic or argument, his definitive answer to no specific issue, providing no understanding of any particular problem, but transcending all of them. His political theme is more primal than programmatic, more instinctive than analytical, a heartfelt expression to protect his greatest romantic attachment, his obsessive fixation, his idealized object: himself.

Trump’s campaign theme is unrequited love. Unlike the pollsters, media consultants and pundits, he alone has grasped the magnitude and the source of the existential crisis threatening his politics. He has identified the problem for the Republicans as the faltering measure of complete devotion to him. His demand has nothing to do with mutual affection. It is a ploy to reassert his slipping control, a manipulative test to prove loyalty to him, or else. There can be no absolute rule without an absolute ruler; no absolute ruler without absolute submission; no absolute submission without the expression of absolute love. His sadness at its fading gives way to anger, paranoia and greater acts of retribution. He equates the fear he instills as a form of love. Trump accepts subservience, from whatever motive, as affection or its closest equivalent. He cares nothing about sincerity, so it’s all in the show. The less love displayed, the more fear required. Yet there is no rebound, but only deeper rejection.

Unpopular new policy comes as midterms loom and control of Congress could be decided by several Michigan races

Every day $1bn worth of goods crosses the river dividing Detroit, Michigan, and Windsor, Ontario, two largely blue-collar US and Canadian cities that have come to act as one in the creation of North America’s auto industry.

News this week of Donald Trump’s escalating trade spat with Canada has everyone worried. Political and economic leaders and observers labeled the move an act of “hubris” , blamed Trump’s “ego”, and called the escalation “insanity”.

Unpopular new policy comes as midterms loom and control of Congress could be decided by several Michigan races

Every day $1bn worth of goods crosses the river dividing Detroit, Michigan, and Windsor, Ontario, two largely blue-collar US and Canadian cities that have come to act as one in the creation of North America’s auto industry.

News this week of Donald Trump’s escalating trade spat with Canada has everyone worried. Political and economic leaders and observers labeled the move an act of “hubris” , blamed Trump’s “ego”, and called the escalation “insanity”.

President denies visit was to gain support for Iran sanctions or due to fears that Putin plans to ‘test Nato resolve’

Donald Trump has downplayed a visit to Moscow by the CIA director, John Ratcliffe, as “semi-routine” after he turned up in the Russian capital unannounced, triggering a wave of speculation about the reasons for his trip.

Ratcliffe was reported to have flown to Moscow on a government transport plane on Tuesday in a rare visit after taking off from the Andrews air force base in Maryland.