---
title: Has J Powell handed Trump a ticking time bomb?
description: "By prematurely cutting rates by 50 bps ahead of the election, even with inflation still running above target, the Fed has set the stage for an inflationary resurgence. \nThe latest October inflation data released yesterday confirmed the trend, with PPI coming in at 2.4%, hotter than the expected 2.3% Meanwhile, core PPI rose to 3.1%, ahead of the expected 3.0% increase\nThe bond market starts to price in this risk, with 10-year Treasury yields up nearly 70 bps since the Fed's began cutting overnight rates in September\nRising borrowing costs will become a major headwind for Trump's pro-growth, and likely pro-inflationary, fiscal policies. \nAnd it could soon become a major problem for equity investors paying a near record high 28x (TTM) earnings in today's stock market. \n\nSource: Porter Stansberry @porterstansb on X, Marketwise,T"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Has J Powell handed Trump a ticking time bomb?](https://blog.syzgroup.com/syz-the-moment/has-j-powell-handed-trump-a-ticking-time-bomb)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Nov 15, 2024, 3:06:06 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/has-j-powell-handed-trump-a-ticking-time-bomb)

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