When Donald Trump plays with import tariff fire, Wall Street has come to learn that he always chickens out. Unfortunately, the same cannot be said when Trump plays with Federal Reserve fire. Rather than backing down, after each of his attacks on the Fed’s independence, Trump seems to double down. Since starting his second term, Trump has been publicly browbeating Fed Chair Jerome Powell to reduce interest rates. Trump would do well to heed these early warning signs and back off from his crusade against the Fed’s independence.