Warsh Is the New Fed Chair, Rates Are Going Up Not Down, China Won't Save Us on Iran & Chinese Cars Are the New Toyota — Are We Repeating th

Kevin Warsh just got confirmed as Fed Chairman and his first challenge is an inflation surge that is not slowing down — rates may go higher before they go lower. China is getting all the attention as a potential Iran dealmaker but do not count on Beijing to do Washington any favors. And the ban on Chinese cars? We have seen this story before. In the 1970s Detroit tried to block Japanese imports too. Toyota and Honda made American cars better. Are Chinese automakers about to do the same thing — and are we too afraid of the competition to let it happen? History is rhyming loudly today.

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