History Will Remember the Trade War’s Economic Impact, Not the Fed’s

Economists see recessions as complex phenomena with multiple causes. Historians and the public prefer simple narratives. So while a recession remains for now more risk than reality, the fight over the narrative is well under way.

Thus, President Trump’s intensifying criticism of the Federal Reserve seems intended not just to get lower interest rates, but to saddle the central bank with the blame if the economy does slide into a recession.