Desmond Lachman
- Indexed articles, last 90 days
- 16
- Latest publication
- Sep 29, 2026
- Outlet visibility, for Washington Examiner
- Top 100K sites
- Earliest in this view
- Jul 10, 2026
Latest articles
The Curious Case of Stock Market Denial (opens the original)
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Hope springs eternally on the stock market. Despite the sharp spike in long-term US Treasury bond yields to multi-decade highs, the stock market seems to party regardless. All the main stock market indices are close to record highs, and equity valuations remain at unusually lofty levels. This suggests that the stock market is operating on two mistaken premises. The first is that the current spike in long-term interest rates will be short-lived. The second is that at a time of the artificial inte
The Bull Case for Gold (opens the original)
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Seldom before have the stars aligned themselves as well for gold’s longer-run price outlook as they have today. It is not simply that the United States has unsustainable public finances, is losing credibility as a reliable economic partner, and appears well on the way to higher inflation. It is that all too many of the world’s other major economies, such as France, Italy, Japan, and the United Kingdom, also have highly compromised public finances. This precludes those countries’ bond markets fro
The Bank of Japan’s Damp Squib (opens the original)
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So much for US Treasury Secretary Scott Bessent’s claim that he had asymmetric information about the Bank of Japan’s (BOJ) interest rate policy intentions. So much, too, for his warning to currency traders not to bet against the Japanese yen, claiming that he was now the house. Yesterday, at its interest rate meeting, far from surprising markets with a more aggressive monetary policy stance, the BOJ confirmed the market’s view that it is a central bank that can be counted on to do too little too
Scott Bessent made his fortune betting against policies like these (opens the original)
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In Focus delivers deeper coverage of the political, cultural, and ideological issues shaping America. Published daily by senior writers and experts, these in-depth pieces go beyond the headlines to give readers the full picture. You can find our full list of In Focus pieces here. Rufus Miles, an American government administrator, famously said that where you stand on an issue depends on where you sit. This aphorism seems all too true of Treasury Secretary Scott Bessent. As a young man, Bessent m
Is Kevin Warsh the Man for Our Economy’s Difficult Hour? (opens the original)
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“Cometh the hour, cometh the man” is an old English proverb meaning that when a situation demands it, the right person will appear to deal with it. If ever an hour demanded courage from the Federal Reserve’s chair, it must be now, at a time when the US bond market is coming unstuck, a widening Middle East war is adding fuel to inflation, and President Trump continues his assaults on the Fed’s independence. At next week’s scheduled Federal Open Market Committee meeting, we will get a good idea as
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