Increased interest payments (which is already like second biggest expenditure of gov) is another reason why I think the Rate Hike Camp is going to be wrong (again). The more obvious one tho is rate hikes bad for all financial assets and economy and POTUS clearly doesn’t want them. Also a portion of the rate hike pushers are politically biased wishcasters latching onto latest doomer nareative. Altho some ppl are sincere but I think they naively overestimate Fed independence and or overthink the data. But what do I know I’m Just ETF guy.(Eric Balchunas)