Less than two months from now, Donald Trump will face the most important political challenge of his second presidency – the mid-term elections in the US. Irrespective of what happens in the elections, things are pretty bad for him on the economic front. Crude oil and fuel prices have risen sharply, 10-year US bond yields crossed the psychological 5% threshold on Monday and hit a two-decade high on Tuesday. The Federal Reserve is expected to increase interest rates later today. At the root of these problems is Trump’s inability to reconcile his idea of acting as the super-power (head of US) and retaining power.
