Joe Biden is fighting the Fed. That’s the takeaway from the most recent report on the economy, showing that the third quarter grew more rapidly than expected in spite of rising interest rates. One reason is obvious: the president and his Democrat allies continue to pump up government spending, boosting growth, even as the Federal Reserve says a slowdown may be necessary to tame inflation “sustainably.” Investors are not happy. Stocks are nearing correction territory, down roughly 10 percent from the highs of the summer. There are concerns that interest rate cuts, which might propel another earnings surge and another market rally, are not likely any time soon. Simply put, s
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