Goldman Sachs boss on Trump tax plan: 'Odds of a bad outcome have gone up'

Goldman Sachs boss Lloyd Blankfein has added his voice to the chorus warning that Donald Trump’s $1.5tn tax cut and spending plans could lead to an overheated US economy.

Sharp jumps in interest rates based on increasing inflation is precisely what investors fear, and there are signs that selling on the equity markets is lifting the yield on 10-year Treasury bonds from 2.4% at the start of 2018 to around 2.85% today.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte